Today, General Environmental Management Inc (OTC:GEVI) is trading at .012 up 13% after recieving a letter of intent to execute formal agreements with Bio Energy Solutions Group Inc in Pernambuco Brazil. The management agreement is said to have a life of 15 years.
“We are very pleased to have entered into a Letter of Intent to formalize a management contract services relationship with BESG,” stated Timothy J. Koziol, CEO of GEM. “BESG has contracts for 34 towns in the state of Pernambuco, Brazil, with additional towns requesting contracts. BESG offers a compelling alternative to the traditional landfill approach by reducing municipal solid waste using natural processes, extracting marketable recyclates from the waste input stream, and enabling the residual biomass to be used as feedstock for generating renewable energy in an environmental friendly manner.”
The management solution is for a Waste to Energy project which is an upcoming field of research combining the world wide problems of dependency on fossil fuels and waste management. The scopes of these environmental problems are gigantic, but definitely possible to resolve. Alternative energy is absolutely one of the fastest growing fields and through research, the globe may be benefited from companies such as GEVI attempting to advance our knowledge of converting seemingly useless products into viable forms of energy.
In GEVI’s last conference call (Q1), it reported an Earnings per share of .30, the first time a net income was recorded in company history. Net income totaled at $4,477,955
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