GTGP...News...
SOURCE: Global Technologies Group, Inc.
August 24, 2011 12:07 ET
Global Technologies Group, Inc. Shareholder Update
SARASOTA, FL--(Marketwire - Aug 24, 2011) - Global Technologies Group, Inc. (PINKSHEETS: GTGP) is pleased to announce that, in conjunction with our partner company MSE Technology Associates (WWW.MSE-TA.COM), we have requested follow-on testing of the combined M2 Polymer/MBS new formulated treatment which will concentrate on mercury contaminated soils. Different forms of mercury in varying concentrations will be added to spike the soil for the treatability testing. This testing is specifically designed for the Department of Energy for contaminated river and stream sediments and soil that should benefit from this combination of treatment agents and also uses for this treatment during the deactivation and decommissioning (D & D) phase for specific site clean-up needs, especially for mercury treatment of contaminated soils or sediments during D & D activities at the Oak Ridge National Laboratory (WWW.ORNL.GOV). It should be noted that MSE has completed projects and testing at ORNL and has offices at Oak Ridge.
MSE, as part of its recommendations, will also do treatability testing of MBS, concentrating on testing soils spiked with uranium and thorium, which will cover a wide range of applications within the DOE for radioactive materials including Uranium, which is a by-product of the processing plants and contaminated soils from uranium mine tailings, as well as the preventing of leach ability of the radioactive contaminated soils into water tables, wells, streams and rivers. The final testing results will also be included in the Waste Management presentation by MSE.
"We are pleased that MSE is now including Global in its submissions to the various agencies it currently has contracts with and has paved the way for Global to penetrate the top tier within the government agencies. It has always been part of our business plan to partner with the top companies within the technology field and brings tremendous credentials to Global to be included as a partner and licensee of both M2 and MSE," stated J. Fallacaro, President.
Updates:
MSE is preparing a full comprehensive report which will include all partner companies (MSE, Global, M2 and Solucorp) for distribution to all appropriate government agencies. This will be the first time all of our partner companies will be represented as a group capable of handling all aspects of remediation and hazardous waste cleanup. This information is going to all the major bidders for the Navy contract as well. This report will be placed on Global's website upon completion.
We are currently working with MSE and Solucorp to design a retrofit for a well-known cement plant for the removal of mercury from flue gasses in the production of cement and are awaiting final technical discussions to move forward on this important project.
Pending business regarding the Sawgrass project and other projects are still not concluded as of now and we are awaiting final decisions on them. Upon notification we will immediately distribute that information to our shareholders.
Financials
We are working on the financials and hope to start filing them prior to September 30.
Potential Acquisition
We are still in discussions regarding this potential acquisition and hope to have the parameters worked out in order to close. The timeframe on this potential acquisition is unknown as of this date and there will be no further updates until we have a final outcome.
For additional information on MSE, MBS, M2 and please visit our website at WWW.GLBTECH.COM
Global Technologies Group, Inc. (GLOBAL) is a company that is in the business of acquiring exclusive licenses and distribution and reseller contracts on proven technologies in the environmental, green and war fighter industries. The criteria for the licensing or distribution agreements of the technologies are: they must be proven, validated and in use. The business plan of Global is to sublicense the technologies it acquires to companies in Countries covered under the original license grants and for its own use. For our exclusive distribution and reseller agreements, we partner with appropriate representatives in the covered countries for resale of turn key projects.
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