Green Equity Holdings signs LOI with SES for 3 brown
In Florida, Green Equity Holdings and Strategic Energy Supplies, have signed an LOI to jointly build and deploy brown grease feedstock recycling plants nationwide. GEH has also begun an extensive due diligence review, and subject to satisfactory findings, the Company anticipates entering into a definitive agreement for the proposed joint venture on or before October 31, 2010.
SESC is to start construction of at least 3 brown grease recycling plants within the first year of the agreement and GEH is to invest up to $1.5 million for each plant under construction in the first year.
Raymond Dias, Founder, President and Chief Executive Officer of GEH, said, “A key aim of this proposed joint venture is to capitalize on the next evolution of utilizing recyclable brown grease to create cost-effective and renewable alternative sources of energy. It is anticipated that suppliers of trapped brown grease will be able to turn an expense (transportation and legal disposal of brown grease) into a new revenue stream, with the joint venture partners (GEH and SESC) making a strategic investment in the high-growth green energy sector to increase shareholder value.”
Category: Fuels
