GDT TEK to acquire renewable energy company

May 23, 2013 |

In Florida, GDT TEK announced that it has entered into a definitive exclusive rights agreement to acquire an unnamed renewable energy company as a wholly-owned subsidiary on or before December 31, 2013. This company turns landfill gas into electricity and creates a Refuse Fuel Derived pellets rom a bio mass waste product utilizing the waste heat from the burning of the landfill gas. The RFD pellets are then sold to electricity companies  that can burn the pellets in lieu of coal to create electricity. GDT Tek has also begun preparing a $20,000,000 bond offering to fund this acquisition with warrants attached at much higher strike prices than the current market valuation.

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