PASO ROBLES, Calif.--(BUSINESS WIRE)--Greenbelt Resources Corporation (OTC: GRCO), a provider of sustainable energy production systems, announced today that it has successfully achieved its goal of raising $550,000 from individual qualified accredited investors. The investments were offered in the form of either restricted common stock or unsecured interest bearing convertible debentures, with substantially all of the proceeds directed to common stock purchases.
The net proceeds will be used for working capital needs including the transition of the company’s existing R&D facility to an operational biorefinery. The funds will also allow Greenbelt Resources to conduct target market research to identify feedstocks that provide the highest potential financial returns from conversion to commercially viable products including advanced biofuels, feed and fertilizer.
“We have reached a significant point in our company’s evolution,” said Greenbelt Resources CEO Darren Eng. “Our technology has been validated by our customers. Investors now recognize the validity of our approach making Greenbelt Resources an ideal energy company for growth opportunities through expanded deployment of its systems to process financially feasible feedstocks.”
About Greenbelt
Greenbelt Resources Corporation is a provider of sustainable energy production systems focused on delivering modular solutions that enable localized processing of locally generated waste into locally consumed products. The Company designs, develops and implements technology that makes production of advanced biofuel reliable, practical and efficient. Controlled by proprietary automated controls, the Company’s small-scale, end-to-end modular systems convert food, beverage and other cellulosic wastes into commercially-viable advanced biofuels (bio-ethanol), animal feed, fertilizer and filtered water. For more information visit www.greenbeltresources.com.
Forward Looking Statements
This press release does not constitute an offer of any securities for sale and contains certain forward-looking statements. For full disclosure statement, visit the investor page at the Greenbelt Resources website.
