DOYLESTOWN, PA--(Marketwire - October 12, 2009) - Accredited Business Consolidators Corp., f/k/a the Italian Oven Inc. (PINKSHEETS: IOVE), announced that its subsidiary entered into negotiations with Green World Crete Inc. to establish a joint venture for an environmentally friendly concrete plant in Nicaragua.
Envirocare Corp., 80% owned by IOVE, was created to offer environmentally friendly construction solutions. After an opportunity in highway construction in Nicaragua presented itself, Envirocare sought a method to produce cement that met the green specifications of certain European financiers that would provide the funds for construction development.
After detailed meetings and receiving a full presentation from Green World Crete about their cement product known as Geo-Green Crete, Envirocare Corp. initially believes that their product design meets the requirements.
Envirocare and Green World Crete are now preparing a plan and budget to create a plant through a joint venture that will enable production, use, and distribution of Geo-Green Crete. Green World Crete's products utilize cutting edge green technology to make superior cement without Portland as a starting material. Instead, it uses natural materials and post-industrial waste. It emits up to 90% less carbon than traditional cement. The product does not go through a typical hydration process and it has no flashpoint. It has two to three times the flexural and tensile strength of Portland cement and can be used safely to encapsulate toxic and nuclear waste material. The product renders two thirds savings on fuel costs.
Envirocare and Green World Crete have now entered into a non-disclosure agreement that will allow the parties to freely exchange information and create the necessary proposal to build the plant on the Highway to Leon in Nicaragua and/or to create a portable cement plant.
Envirocare estimates that a working plant, coupled with the demand for green cement products in Nicaragua, would result in multi-million dollar revenues per year with a healthy profit margin. In addition, the opportunity to receive international carbon credits will enhance revenue capacity.
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