With a compelling pipeline of market opportunities presently existing in the United States, the Company is finalizing multiple agreements in prime US markets with major waste plastics and waste tire suppliers to acquire the rights to install pyrolysis systems on their facilities, which allow for the waste plastics and tires to be converted into alternative, low emission fuels such as diesel, and syngas, on their facilities.
Global Clean Energy Inc. Houston Texas
GCE is still in the process of finalizing an acquisition of a Platinum Group Metals operation. Adjustments in it s' acquisition due to pressure on metal prices.
The project will still be totally integrated starting with complete control of the feedstock (spent catalytic converter aggregation), proven technology, smelting and refining the recovered PGM to high value precious metals or high value chemicals. Every aspect of the process will be 100% controlled by GCE. The company is assuring that
upon completion of the acquisition that the subsidiary will provide positive cash flow.
With the acquisition GCE will have complete control of the catalytic converter feedstock guaranteeing required volumes through expanded converter purchasing efforts for the smelting plant as well as acquiring the targets existing revenue into GCE. The target acquisition company has established multiple channels into acquiring spent catalytic converters through multiple buyers representing different parts of the southeast; the buyers will draw from regional aggregators, corporate players as well as local recyclers.
FIRST QUARTER UPDATE:
1. The proposed acquisition is still in progress, and it is the company's hope to have a final announcement by early June.
2. The work on a $40 million Bond issue is moving forward and the company should be through the final due diligence period with quarter 2.
3. The Algae REIT is proceeding and now seeking feedstock pricing from major algae suppliers. Upon getting final figures the prospectus will be completed along with anticipated pricing.
4. The Chinese agreements are awaiting response from our partners, and has gone slowly.
5. As mentioned in the annual report, our updated Form 10 should be filed with the SEC in the second quarter. Likewise, we are awaiting IFRS response on our CTO.