HOUSTON, TX — (Marketwired) — 08/22/13 — Global Clean Energy, Inc. (OTC PINK: GCEI) confirms that it has reached an agreement with Nova ReNew Inc. of Halifax, Nova Scotia, for the development and financing of a plastics to fuel plant, utilizing pyrolysis technology.
Today–s agreement makes GCE the co-developer of a turn-key plastic to fuel plant that will consume 6,000 tons of End of Life plastics annually, and convert it into a high value fuel. The Plastics to Oil plant will be the largest of its kind in Atlantic Canada, and will serve as a showcase for the North American market.
Global Clean Energy, Inc. will partner with Nova ReNew Inc. and provide financing for the proven technology, the plant, and operations. Nova ReNew Inc. will provide complete oversight, operations and maintenance of the operation.
“We have been in discussions with Nova ReNew Inc. throughout the past year and today marks a significant milestone in our talks,” said Brian Levine, GCE–s COO. “The Nova ReNew group has been working closely with government officials, feedstock suppliers, engineering, and procurement groups for the past two-years; creating perfect conditions for one of our plants. We value Nova ReNew–s project development capability, knowledge of local environment issues, and process knowledge. Further, we believe we will jointly deliver an efficient and effective world class, End of Life plastics solution driven industry.”
Nova ReNew Inc. has assembled a dynamic, respected and capable management team that has experience in direct construction, design, and supervision of $100,000,000 projects including paper mills, electricity generation facilities, and solid waste management facilities. The group also has extensive knowledge in establishing recycling programs in Nova Scotia and in the Caribbean. VP of Government Relations for Nova ReNew Inc., the Hon. Wayne Adams, said, “Our operational experience allows for seamless transition from construction to operational support.” Adams added, “GCE is the only firm we–ve found in North America whose business model is to partner with developers to accelerate site development, engineering and finance, ensuring management is both directly accountable, while maintaining a strong equity stake based on the business units performance; and we plan to make this new industry one that Nova Scotians will be proud of.”
As a global technology integrator, GCE has a broad spectrum of commercially proven best available technology (BAT) which allows GCE to match up technology with feedstock in order to maximize the fuel conversion value. GCE is not locked into a given technology or single platform which would limit its development scope. As technology options throughout the world continue to develop at a rapid pace, GCE is positioned as the most diverse feedstock integrator, differentiating itself from single source, singular platform traditional feedstock developers in the flourishing North America alternative fuel development market.
Nova ReNew Inc. was recently established by 4 industry veterans; namely Dietmar A.M. Tholen, Dipl.Ing. (FRG/RFA) President, DAM Tholen ECO Resource Management Inc. (former EUROCAN Waste Management Ltd), and a pioneering-leader in Solid Waste Management systems for Nova Scotia, Dr. Wayne Adams, C.M., ONS, C.C., a veteran entrepreneur, former Municipal politician, and a former Nova Scotia minister of the environment, Chief Executive Officer Adams Management Group, Scott Travers, P. Eng. Past President and Chief Operating Officer Minas Basin Pulp and Power Co. and Newton Falls Fine Paper, and owner of DSquare Consulting Inc. of Halifax, William Porter, M.Sc., President, Business Development Adams Management Group, and a former NASA employee, to combine the groups (6) years of site and feedstock rights for practical, cost effective conversion of municipal solid waste streams into value added products. Nova ReNew was established to manage the group–s properties, grants and Expanded Polystyrene (Styrofoam) volume reduction intellectual property.
Statements in this release may be regarded, in certain instances, as “forward-looking statements” pursuant to certain sections of the Securities Act 1933 and the Securities Exchange Act 1934, respectively. “Forward-looking statements” are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting GCE and its business. There can be no assurance that such forward-looking statements will ever prove to be accurate and readers should not place undue reliance on any such forward-looking statements contained herein. GCE will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
GLOBAL CLEAN ENERGY, INC.
Investor Relations
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