COSTA MESA, CA -- 11/04/09 --
ENVIROTEK (PINKSHEETS: ENTK) today announced
the Company recently acquired 51% controlling interest in Extreme Green
Technologies Inc., a Nevada corporation with a CA, DBA: "Extreme Biodiesel"
located in Corona, California.
ENVIROTEK Board of Directors today announced the acquisition of controlling
Interest in "Extreme Green Technologies Inc." further enhances ENVIROTEK's
portfolio of "All Green" Alternative Fuels and Energy Solutions for
worldwide applications.
Robert Thompson commented, "We are ecstatic at the opportunity to partner
with such a leading state licensed Biodiesel and alternative fuel refining
company here in California, whose Board of Directors have an almost
identical vision as ours, towards an all 'Green' alternative fuel refining
and distribution network. The opportunity to add Extreme Green
Technologies' President Joe Spadafore to our Board of Directors is an
unprecedented bonus. ENVIROTEK has committed to and already started funding
the expansion of Extreme Biodiesel's Corona facility in order to increase
the daily production capacity of Extreme Biodiesel."
Extreme Biodiesel is currently believed to be one of 15 Nationwide Licensed
Biodiesel refinery facilities with authorization to refine, produce and
resell Biodiesel products. Of which Extreme Biodiesel is one of only four
of the above stated licensed facilities in California.
ENVIROTEK'S Robert Thompson further commented, "With added improvements to
the refinery that are already in process along with the funding by
ENVIROTEK, it is projected the plant will be fully operational with a daily
production capacity of 4000 gallons by January 1st, 2010. With additional
funding from ENVIROTEK the 12000 sq. ft. facility will have a daily
production of 10,000 gallons of high grade Biodiesel per day and operating
six days per week. The annual output at the current refinery by mid 2010 is
projected to be in excess of 3,000,000 gallons per year which in the
current economic climate would equate to over $9,000,000 in annual revenue.
The facility's current production capacity is 1200 gallons per day. The
government currently offers a subsidy of $1.00/gallon to licensed
facilities producing Biodiesel along with Green Credits valued at
approximately $.033/gallon. This is in addition to the profit margin from
the production to resale of the Biodiesel. The government subsidies are
projected to continue through 2018 for licensed facilities."
The $1.6M Extreme Green Technology acquisition partnership was acquired by
ENVIROTEK by way of Cash, Preferred (Non-Tradable) shares, restricted
shares and 5-year stock options.
About Extreme Green Technologies Inc.
www.extremebiodiesel.com
About ENVIROTEK
ENVIROTEK "PROVIDING TOMORROWS GREEN SOLUTIONS TODAY"
Our initiative is to help change the way the world looks at the
Environment, and provide solutions to "GO GREEN"
ENVIROTEK is a rapidly growing company that will be introducing several
innovative technology solutions to a growing crisis throughout the world.
Our goal is to improve the health, environment and economy of people around
the world by supplying proprietary technology that can be used in both new
and existing systems to convert them to GREEN and to create Alternative
Energy Solutions.
We will be introducing cutting edge technology in a number of areas,
Energy, Environmental Cleanup, Dead Oil Wells and Waste Management just to
name a few. Our products will not only help reduce the Co 2 green house
effect, but will also be a solution to save our resources for generation to
come.
IMPORTANT LINKS
www.envirotekusa.org
www.thefuelfilm.com
To view this press release in video format visit:
http://www.vodnewswire.com/vodnewswire/news/envirotek_20091104/
Safe Harbor Statement: This release includes forward-looking statements
intended to qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements generally can be identified by phrases such as INCL or its
management "believes," "expects," "anticipates," "foresees," "forecasts,"
"estimates" or other words or phrases of similar import. Similarly,
statements herein that describe the Company's business strategy, outlook,
objectives, plans, intentions or goals also are forward-looking statements.
All such forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from
those in forward-looking statements.
Contact:
ENVIROTEK
949-999-2022
