Greenbelt and Biofuels & Energy Execute Contract for Colorado Project

In California, Greenbelt Resources Corporation and Biofuels & Energy executed a contract for engineering services on the SLV Biopro Project located in San Luis Valley, Colorado. Greenbelt will provide engineering consulting services to B&E during the development phase of this project, which intends to utilize various food wastes and surplus, including potato industry processing waste and off-spec grains.

The total SLV Biopro Project budget is estimated at $8.0 to $9.0 million, depending on final location and production capacity, of which about $7.2 million is allocated to Greenbelt’s system.

Extensive feasibility analysis conducted by B&E indicates that the SLV region produces a significant variety of wastes which qualify as feedstocks, in quantities well beyond that needed for the project. B&E is currently securing both feedstock and off take agreements for the project.

Greenbelt has pioneered this local community scale model, which uses a variety of organic feedstocks and converts these into valuable bioproducts such as bioethanol and biobased protein products. The Company is currently raising funds for two projects focused on producing bioethanol for use in the cannabis industry as extraction solvent, using winery and brewery wastes as feedstocks: PRECO and the California BioEthanol Project.