SEATTLE, June 18, 2009 (GLOBE NEWSWIRE) -- GeoBio Energy, Inc. (Pink Sheets:GBOE), d/b/a Plastics Conversion Technologies, Inc. (PCT or "the Company"), a Colorado-based plastics cleaning, separation, and recycling company, today announced updates on several 'current development' fronts, as it continues to plan for and move toward the groundbreaking of its first operational plastics recycling facility.
Regarding our continuing process and technology development, PCT and Thar Processes, Inc. (Thar), announce the completion of further process-cycle testing using their patented extraction method that now enables them to submit 'cleaned plastics' test results data (as well as to provide cleaning process schematics and information) to environmental departments in several locations as part of the "pending plant" approval process. Additionally, Thar and PCT are exploring a number of additional process patent opportunities to determine whether additional intellectual proprietary filings can or should be made. The company plans to make announcements to its shareholders as such filings arise.
In an exciting new financing development, PCT has begun to directly approach potential funding sources, seeking the backing/guarantees needed to take advantage of the State of Wisconsin municipal bond offering program. Concurrent with these funding efforts, the company commenced research of the Municipal bond offering potential and requirements in four other states (California, Washington, Oregon, and Massachusetts), where it plans near- to mid-term facility plant development.
PCT also announced plans for new website development, including an animation of the Company's cleaning process, expanded Company contact capability, and an investor relations section -- all of which will give potential suppliers, customers, and shareholders a more thorough overview of company plans and operations.
Stated Gary De Laurentiis, COO of PCT: "As we continue to move forward with the numerous steps involved in getting our proposed plastics conversion facilities up and operating, we want to keep the public and our shareholders aware of ongoing developments. Hopefully, via both continued press outreach and an updated and improved website, we can address and communicate our business activities and shareholder questions effectively and regularly to all interested parties."
About PCT
Plastics Conversion Technologies is a plastics recovery, separation, cleaning, and recycling company. It was formed in 2009 via the merger of GeoBio, Inc. and EnviroPlastics, Inc., with the intent to supply recycled commercial plastics to industries such as the automotive and consumer products industries, and it plans to construct large-scale plastics recycling facilities near automotive shredder locations nationwide. Operating in conjunction with large national metal recycling partners (see "Strategic Partners"), the company, using a patent-pending process developed by EnviroPlastics, will produce recycled commercial grade plastics ready to be re-introduced into commerce. Additionally, in conjunction with other Strategic Partners, PCT will convert waste and scrap plastic (both from its own processing and from other sources) into high-value energy products, including synthetic oil. For more information, please go to: www.enviroplasticscorp.com
The EnviroPlastics Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6107
Press Release Services by: www.PennyStockProfile.com & www.SmallCap1.com
Safe Harbor Statement
The contents of this Press Release may contain forward-looking statements which can be generally identified as such because the context of the statement will include the words such as "expects," "should," "believes," "anticipates" or words of similar import. Such forward-looking statements are subject to certain risks and uncertainties including the financial performance of GEOBIO which could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. This Press Release does not constitute any offer, invitation, or solicitation to purchase securities. "Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. GEOBIO disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by GEOBIO with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with our ability to (i) obtain additional financing, (ii) generate revenues, (ii) obtain profitability, (iv) manage changes in general economic and business conditions (including in the asset management and asset tracking industries), (v) react to actions of our competitors, (vi) develop new services and markets for our services, (vii) properly quantify the time and expense involved in such development activities, (viii) identify and manage risks in connection with acquisitions, financing growth, and (x) make necessary changes to our business strategies.