1 September 2004, 09:30am ET
NEW ORLEANS--(BUSINESS WIRE)--Sept. 1, 2004--Life Energy & Technology Holdings, Inc. (OTCBB:LETH), today announced that its board of directors has approved a name change from Life Energy & Technology Holdings, Inc. to Global Environmental Energy Corp., effective as of August 30th 2004. The new trading symbol for Global Environmental Energy Corp. will be announced.
Dr. Christopher McCormack, President & Chief Executive Officer of Global Environmental Energy Corp., said, "At Global Environmental Energy, we are building an environmentally responsible global energy company with interests in both traditional oil and gas businesses and in alternative energy sources and their use. To date we have been best known for our revolutionary Biosphere Process(TM) System technology with which we promote the use of sustainable and renewable energy sources whilst extending the lifetime of the world's fuel reserves, coal, oil and gas.
"Our Biosphere Process(TM) System can also use traditional fossil fuels, oil, gas, oil field wastes, shale oil, and sour natural gas as a waste stream for making electricity. This helps to meet World Bank's goals under the Global Gas Flaring Reduction Partnership. These goals are shared by the Governments of Angola, Cameroon, Ecuador, Nigeria, Norway and the USA, and companies such as BP, Shell, Chevron Texaco, Total and Sonatrach and others. Global, which is funded by Diamond Ridge Advisors, is currently negotiating oil and gas interest in Algeria and Libya.
"It is the intention of Global to finalize negotiations on oil and gas interests in Algeria, Libya. This will complement the demand for exportation of our US manufactured Biosphere Process(TM) Systems in these same countries."
