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Posted: February 14, 2008
Green Earth Technologies Secures Exclusive Rights to $75M Annual Production Capacity for G-Oil
(Nanowerk News) Green Earth Technologies, Inc. (Pink Sheets: GETG), a manufacturer and marketer of environmentally-friendly consumer products, today entered into a strategic relationship with Bio-Tec Fuel and Chemicals, LLC, an Oklahoma-based developer and manufacturer of environmentally-friendly oil products, to manufacture its "G"-Branded automotive performance products including 2-cycle motor oils, all grades of automotive motor oils and marine motor oils. Green Earth Technologies (GET) has been granted a perpetual royalty-free license and exclusive rights to global sales for these products. In addition, the two parties will pool their respective proprietary technologies to develop improved product formulations.
Jeff Marshall, President & CEO of Green Earth Technologies, stated, "Our relationship with Bio-Tec represents a key component in our product delivery strategy by ensuring a sufficient manufacturing capacity to meet current and anticipated future demand for our G-Oil performance product line. The technology-sharing aspect of this partnership is just as important as the manufacturing component which will drive the development of even more green products. The improper disposal of used motor oil contributes to 40% of America's oil pollution and GET is committed to bringing consumers a green product line of oil made from renewable resources that is not hazardous to the environment when spilled or disposed of."
In addition to being non-hazardous and biodegradable, GET's G-Oil products possess important performance characteristics that make them as good as or better than petroleum-based oils. The G-Oil product line, made with American-grown base oils using nanotechnology, includes features such as "non-smoke" and "virtually odorless" for air-cooled engines and a smoke temperature that is higher than crude oil-based motor oils.
Bio-Tec utilizes proprietary intellectual property and trade secret formulas to transform bio-mass from the fat tissue of animals into all grades of automotive oil and air-cooled and water-cooled 2-cycle marine and small engine oil. Bio-Tec's manufacturing facility in the Oklahoma panhandle affords it local access to a plentiful supply of feedstock sufficient to meet current and future consumer demand.
Wes Marr, Founder and Chief Chemical Engineer of Bio-Tec, said, "We are excited to enter into this partnership with GET for the production of G-Oil products and to apply our complementary technologies to the development of innovative new products."
GET's "G"-Branded 2-cycle motor oil meets API service category TC for 2-cycle air-cooled outdoor engines as defined in ASTM 4859 and Ultimate Biodegradable as defined in ASTM D-5864. GET's automotive motor oil products will meet the standards of the American Petroleum Institute (API) for automotive motor oil category SM and ILSAC energy conserving category G4 and classified as Biodegradable as defined in American Standards Testing Method (ASTM) D-6866. GET's "G"-Branded 2-cycle Marine motor oil will meet the NMMA standards for Marine water-cooled outboard engines and Ultimate Biodegradable as defined in ASTM D-5864.
Dr. Mathew Zuckerman, CTO and Chairman of GET, stated, "Consumers can feel good about buying G-Oil products because they are made with renewable and domestically-grown animal sources rather than foreign oil imports."
ABOUT GREEN EARTH TECHNOLOGIES:
Green Earth Technologies produces "G" - Branded superior performing totally green products made with American-grown base oils that utilize the power of nanotechnology to deliver environmentally friendly products with no compromise...meaning, consumers can now "do their part" without having to give up performance or value - Save the Earth - Sacrifice Nothing. The G-Brand family of products include G-OIL™, G-WASH™, G-GLASS™, G-SCENT™, G-WHEEL™ and G-TIRE™, and are offered in a wide range of automotive categories including performance & appearance chemicals. Please visit www.GETgreenearth.com or www.getg.com for the latest news and in-depth information about G.E.T. and its brands.
SAFE HARBOR STATEMENTS:
Certain statements in this release regarding future events and developments, future performance, management's expectations, beliefs, plans, or projections are "forward looking statements" within the meaning of the federal securities laws. Such statements are subject to a number of risks and uncertainties, and are based on the Company's current expectations, and speak only as of the date of such statements. Actual Company results may differ materially from any forward-looking statements due to such risks and uncertainties.