Global Clean Energy, Inc. (OTC PINK: GCEI), has been a publicly traded company since September, 2008 and has seen tremendous challenges and changes in the business of bio-fuels and alternative fuels. The company's Board of Directors from the beginning had as an overriding corporate philosophy to never make decisions that would put the company at risk and that could not be overcome.
June 06, 2017 10:18 ET
Global Clean Energy Inc. Algae Reit Update
HOUSTON, TX--(Marketwired - June 06, 2017) - Global Clean Energy, Inc. (OTC PINK: GCEI), has been a publicly traded company since September, 2008 and has seen tremendous challenges and changes in the business of bio-fuels and alternative fuels. The company's Board of Directors from the beginning had as an overriding corporate philosophy to never make decisions that would put the company at risk and that could not be overcome.
The company determined within the last two years that until oil prices rise or conversion costs of feedstock lower dramatically, alternative fuel development which the company has been working on must have as a key component revenue from sources in addition to bio-fuels.
After a tremendous amount of research the company has determined that the number one development is the profitable production of algae indoors in controlled environments in industrial warehouses. The work to date that has been accomplished by numerous companies to increase both production and quality has been amazing. Further, the use of high grade algae will continue to grow to become an estimated $40 billion dollar annual industry, with little of that attributed to bio-fuels. The broad range of use spans for algae include but are not limited to supplements, cosmetics, high grade vitamins, skin care and further efficiencies in the bio-fuels development.
The company determined that profitable cash flow will occur as algae production begins. It was determined that to control quality, increase production and have the best return on investment indoor controlled growing of algae is the way to proceed. Likewise, the optimum facility would be housed in a 50,000 square foot building. It is Global Clean Energy Inc.'s intention to purchase a turnkey plant production site. The company has found numerous facilities in three southern states which meet size, transportation and water requirements. GCE plans completing projected production figures, production goals, sales figures and site acquisition costs in the very near future.
The company will be meeting with its' New York underwriter to determine the REIT pricing. Global Clean Energy plans on becoming the managing general partner and retain 20% equity ownership of the REIT. The final size of the offering will be determined based on the speed at which the operation can be built out.
Updates on other corporate activities will be contained in the company's next news release.
Statements in this release may be regarded, in certain instances, as "forward-looking statements" pursuant to certain sections of the Securities Act 1933 and the Securities Exchange Act 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting Global Clean Energy, Inc. and its business. There can be no assurance that such forward-looking statements will ever prove to be accurate and readers should not place undue reliance on any such forward-looking statements contained herein. Global Clean Energy Inc. will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
GLOBAL CLEAN ENERGY, INC.