2013-10-16 15:21:00 -
Calgary, Alberta CANADA, October 16, 2013 /FSC/ - Sparta Capital Ltd. (SAY - TSX Venture),is on the verge of attaining interest in a waste to energy facility that is doing unprecedented work. Sparta has just signed a Letter of Intent to purchase a percentage of GEC's rights to a waste to energy Satellite station in the Western U.S.
The groundbreaking technologies applied by Green Box North America divert food contaminated waste (18,200,000 cubic feet for each Green Box facility annually) from landfills and transform it into high quality recycled pulp, tissue, paper cups and certified bio diesel.
Unheard of in the past, the Green Box processing systems mean that 100 percent of collected waste that would normally be added to
already overflowing landfills is recycled. All Green Box Satellite stations in the United States will be capable of collecting post-consumer waste from hotels, fast food outlets, sporting venues and movie theatres to then convert them into new products.
"We are extremely pleased to form a partnership with GEC and indirectly Green Box. After seeing the amazing technologies Green Box possesses and the significant profit opportunity as a co-owner of this Satellite facility with GEC, it is hard not to be excited," Tom Brown, President and CEO of Sparta announced.
When it comes to post-consumer waste one of the biggest contributors to landfills is the coffee cup. According to consumer research conducted by Daytona State College, Americans use 16 billion paper cups annually. Green Box is the only company in the U.S that has FDA approval to produce a cup made of 40 per cent recycled content.
"Yes there is a world where we don't have to feel guilty about drinking out of a paper coffee cup. Knowing that we are associated with a company that can do what others have tried to do for years but couldn't is an honour, and a sign that this partnership with GEC can provide a sound return for Sparta's shareholders, as well as a good investment in our planet," Brown said.
About The Companies:
Green Box North America Inc: Established in 2008, Green Box utilizes 7 patents and eleven intellectual proprietary technologies in its waste to energy system. They will eventually have a total of 32 Satellite facilities across the U.S., each capable of taking in 740 tonnes of waste material per day. Plans are also in the works to bring Green box to Canada. . www.greenboxna.com/
GEC: The energy company based in Costa Mesa, California focuses on bringing viable green technologies to market. In 2012, GEC recognized unlimited opportunity when it purchased licenses for Southern California Green Box Satellite facilities. GEC continues to seek proven green technologies that bring us closer to a zero waste society.
Sparta: Sparta Capital Ltd. is a publicly traded investment and distribution company that works with a range of technologies, in particular those that contribute to green energy solutions within the global logistics industry. With access to a large market and a solid compliment of technologies, Sparta can maximize the positive impacts for customers, investors and the planet. For more information on Sparta visit www.sparta.com
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Corporation's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the completion of the Offering. Such statements and information reflect the current view of the Corporation with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Corporation undertakes no obligation to update forward-looking
Tom Brown, President, and CEO
Telephone: (306) 491- 6323
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Source: Sparta Capital Ltd. (TSXV SAY) www.spartacapital.com
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