Greenbelt Resources signs LOI with Purnol to distribute ethanol

In California, Greenbelt Resources Corporation announced that it has signed a Letter of Intent with Purnol, a California-based distribution company. Purnol plans to purchase, brand and resell bioethanol produced in Greenbelt’s California BioEthanol Project which uses proprietary technology to convert local brewery and agricultural waste into various biobased products including bioethanol and high protein animal feed. Purnol will sell the bioethanol under its own brand as an eco-friendly high-quality premium extraction solvent. The LOI establishes the intent for all bioethanol produced by Greenbelt’s California BioEthanol Project to be purchased and resold under the Purnol brand.  Importantly, the LOI also establishes Greenbelt as Purnol’s exclusive supplier of bioethanol.