Due to the pandemic facing the world, GCE and its' Board of Directors, consultants and employees have been inmost part under lock down and we pray for our shareholders and indeed the world in these trying times. We havecontinued to work to make our company successful and a source of pride for all of us. We look forward to attaining our goals as we hope a new normal happens soon.
$GCEI> GCE for a number of years has researched and analyzed the three major points of embarking on the utilization of algae to build a better world.
First, our direction for financing is through an Algae REIT which will allow GCE to be the managing general partner. We have developed a financing package to bring the REIT to market at the levelof $50 million.
Secondly, having the right equipment configuration for profitable production in a self-contained system. We have identified a 20-acre location in Houston, Texas and the companies who will build the turn key system for GCE.
The first two products we plan on selling are fertilizer and feed for livestock. In both instances using algae qualifies the crops and meats as "Organic".
Presently, we have targeted 20 product lines for development with algae as the key ingredient.
GCE has always believed that research and development is key to the booming growth of algae applications. It is our intention that 10% of each algae location will be devoted to R&D. Once funding is secured, we have targeted 5 universities in the US to work with GCE on algae development.
The key event in the last two years as it relates to algae is the recognition of algae as a crop in the 2018 Farm Bill. This triggered algae as an "Agricultural Commodity". Further it provides financial support from the USDA, establishes a new USDA Algae Agriculture Research Program, and provides a significant opportunity to monetize carbon.
GCE will keep its' shareholders and the public informed as each corporate milestone is reached