Garb Oil & Power Corp (OTCQB: GARB.PK) Will Form a European Funded JV to Build and Operate a 25,000 Metric Ton E-Waste Recycling Plant
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Garb Oil & Power Corp.
1588 S. Main St., Suite 200
Salt Lake City, UT, 84115
Press release date: July 11, 2011
SALT LAKE CITY, July 11, 2011 - Garb Oil & Power Corporation (OTCQB: GARB.PINK) Garb showed 2 potential investors through 2 operational plants in Europe that use Garb E-Waste recycling technology. The investors have confirmed interest in forming a joint venture partnership (JV) with Garb. It is expected that documentation on the Joint Venture will be finalized before the end of July. The JV will be 51% owned by Garb and 49% by the investors. The company will then build, own and operate a 25,000 metric ton E-Waste plant. The estimated cost of the project including land, building and plant is expected to be approx. $25 million USD and is scheduled to be completed by September 2012. Funding for the E-Waste Plant will come through the engagement of an Equipment Funding company with expertise in Asset Based Funding. Garb CTO Igor Plahuta stated, "The plant will incorporate significant improvements on our past E-Waste Plants designs. Providing for greater efficiency; the plant will help satisfy the need for infrastructure to manage the increasing flow of electronic waste."
Garb Oil & Power Corporation is dedicated to the application of ClosedCycle(TM) principle and NoWaste(TM) residue. Our plants for Rubber Recycling, E-Waste and E-Scrap Recycling, Waste to Energy and OTR processing plants are all developed with these principles in mind. Garb believes that processing waste should be economically viable and leave NoWaste(TM). It is our endeavor to build plants that continue to push the boundaries for the attainment of the ClosedCycle(TM) principles and a world with NoWaste(TM).
CONTACT for Garb Oil & Power Corporation:
Garb Oil & Power Corporation
John Rossi President & CEO
SOURCE Garb Oil & Power Corporation
Web Site: http://www.garbop.com