Greenbelt Resources Expanding into the Algae Oil Market

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Press release.

Aug 06, 2008 - Greenbelt Resources Corporation has signed an agreement to acquire 20% of Renewed World Energies, Inc. Renewed World Energies is an algae oil company specializing in a new automation for covered pond harvesting of genetically modified super-algae strains used to produce a non-food based oil for biodiesel. The transaction also includes an exclusive distribution agreement.

Greenbelt Resources Corporation has been identifying ways to expand its core business of environmentally friendly ethanol plants. One solution is to unlock the value contained in algae. After significant market research in the sector, the board felt the synergies between these two brands would be a significant benefit to the market and most importantly to our shareholders.

This is a press release folks, so take whatever is being said with a dose of circumspection. That said, it will indeed be interesting to see where Greenbelt's research takes them, and all of us...

Full press release from here

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