Green Bridge Technologies International, Inc. Announces Sale of Vortex Technology Patent Rights
August 19 2011 - 1:05PM
Marketwired
Green Bridge Technologies International, Inc. (PINKSHEETS: GRBT) is
pleased to announce that the Company has sold the rights to the
Company's Patent Pending Encapsulated Vortex Technology (EVT). This
technology was developed by the Company's VaporTech division and
has a number of practical applications in many industries. EVT is
the base technology used in the vortex muffler design. The company
has also recently completed a consulting contract for continued
vortex muffler development.
"As a developer of unique technologies, the Company is very
pleased to have one of our technologies reach the stage where it is
commercially viable and able to be sold to a company that is
focused on the final stages of bringing products to market," stated
Leonard Baxter, CEO and President of Green Bridge Technologies
International, Inc. "The Company has worked very closely with the
licensee in preparation to take the technology to the next
level."
Proceeds from the patent sale will be used to reduce debt and
set the stage for a new company direction. The company is currently
evaluating a proposal that has potential to provide ongoing revenue
and provide support for further technology development.
About Green Bridge Technologies International,
Inc.:
Green Bridge Technologies International, Inc.
(www.grbtonline.com) is a technology-based company that
concentrates on developing and marketing new products and services,
aimed at improving our world through green technologies. The
Company operates a Technology R&D facility, where the main
projects involve their Vapor Technologies Group.
Safe Harbor Act: This release includes forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 that involves
risks and uncertainties including, but not limited to, the impact
of competitive products, the ability to meet customer demand, the
ability to manage growth, acquisitions of technology, equipment, or
human resources, the effect of economic business conditions, and
the ability to attract and retain skilled personnel. The Company is
not obligated to revise or update any forward-looking statements in
order to reflect events or circumstances that may arise after the
date of this release.
Contact: Green Bridge Technologies International, Inc.
Investor Relations 1-810-410-8177