GS Enviroservices Signs Carbon Credit Deal With GEC Organics Corp.
SAN DIEGO, CA, Jul 31, 2013 (Marketwired via COMTEX) -- GS Enviroservices, Inc. of San Diego California (OTCQB: GSEN) has entered into a strategic partnership with Green Giant Venture Fund ("GGVF") for the purpose of developing carbon credit projects in the United States and abroad. GGVF is a highly respected and well-known firm that has been active in the development of carbon credit projects domestically and internationally for 10 years. The first transaction for this new business combination is with GEC Organics Corp. of Castleberry Alabama ("GECO"). GECO operates a 70-acre facility, which is believed to be one of the largest organic compost facilities of its kind in the US. "We are very happy to be signing GECO as our first client in the GS Enviroservices/GGVF partnership," stated Grant Galloway of Green Giant. "The potential size of the carbon credit sales for this operation will result in fees for GS Enviroservices/GGVF of approximately $2,300,000 for this single contract."
"GECO's Alabama location will bring significant revenue to GS Enviroservices, but it is only a beginning. GECO has a second facility in Hawaii being developed and 2 more locations in the Southeast under consideration. Capital for the development of these 2 new sites has been arranged by GECO and will be offered to us as additional Carbon Credit projects. Further, our focus with Green Giant in the organic compost market overall has already resulted in inquiries from carbon credit producers indicating good opportunities for expansion in this space. As I like to say, the carbon markets are an important building block for a sustainable economy," added Mr. Simmons.
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