ST. CLOUD, Fla., Nov. 9, 2011 /PRNewswire/ -- Green Bridge
Industries, Inc. (OTCPK: GRBG) is pleased to announce that its
subsidiary Team Energy has received a Letter of Intent (LOI) from
Refrigerated Express, LLC to purchase CNG (compressed natural gas)
from the St. Cloud waste to energy
facility that is scheduled to be completed in 2012. Refrigerated
Express currently uses 700,000 gallons of diesel fuel in its
operation of refrigerated trucks that transport fresh seafood and
produce. Their fleet of trucks is operated out of their
headquarters and repair facilities located in Indian Harbor Beach,
FL.
Refrigerated Express has been exploring converting their fleet
to run on CNG for both fuel savings and environmental benefits.
Pat Barker, President of
Refrigerated Express, said, "We are excited about the Team Energy
project being a part of our solutions with alternative fuels for
the trucking industry. As we wade thru the challenges of
alternative fuel solutions we are convinced that the conversion of
commercial trucks and vehicles will quite literally turn around the
economic problems of the entire nation because of lower operating
costs combined with the approximately $500
million per month current national diesel costs will stay in
the U.S. of A. The trucking industry is the primary early indicator
of economic activity in the nation. Trucking affects every
industry, every business, and every household. America moves on
trucks and the trucking industry is ready to move America to more
prosperous times."
Under the terms of the LOI, Team Energy will store the CNG
produced from the landfill in a tanker provided by Refrigerated
Express. They will pick up the tanker and deliver the CNG to their
truck depot fueling station while the next one is being filled. In
addition to purchasing the CNG, Refrigerated Express will provide
services to convert other fleet vehicles contracted to purchase CNG
from Team Energy.
"We are extremely excited with the prospect of working closely
with a premier trucking fleet operator like Refrigerated Express,"
said Don Wood, Green Bridge CEO.
"Together, Team Energy and Refrigerated Express have the
opportunity to demonstrate the benefits of CNG to a fleet
operator's profitability and at the same time make a strong
statement about their commitment to protecting the environment.
"Our goal is to continue expanding our reach to other fleet
operators interested in saving 30% or more on their fuel costs,"
said Team Energy COO Henry Martin.
"CNG is quickly becoming popular with municipalities and
governments due to budget cuts and we have the ability and
experience to expand this business model over the next several
years. At the same time the cost of conversion has steadily
declined as it has become more popular, making the payback timeline
shorter and shorter. We expect this trend to continue as more firms
enter the conversion kit market and costs to convert continue to
decline."
The management of Team Energy recently won the bid with the
City of St. Cloud, Florida to
develop a landfill gas collection system on the landfill located
within the city limits. Under the terms of the contract Team Energy
will extract the methane from the landfill, clean, compress and
sell the finished gas product as CNG (compressed natural gas) for
use in vehicles.
To learn more about Team Energy, Inc., please visit:
http://www.teamenergy-inc.com/index.php
About Green Bridge Industries, Inc.:
Green Bridge Industries is a Green Products & Technologies
company. Since the Company's inception, it has grown and thrived in
the area of green cleaners. Green Bridge Industries has plans to
upgrade its current products as well as introduce new product
lines. The first of these is its new EZ PAK™ product line, a
dissolvable packet aimed at lowering our carbon footprint while
still offering superior cleaning performance as compared to
traditional, toxic cleaners. The Company is also actively looking
towards joint venture partnerships and acquisitions in the
alternative energy sector. For more information on Green Bridge
Industries, visit: www.greenbridgeindustries.com.
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 Industries, Inc. at:
InvestorRelations@greenbridgeindustries.com
SOURCE Green Bridge Industries, Inc.