Green Planet Group Updates China Activities
SCOTTSDALE, Ariz., Dec. 21, 2010 (GLOBE NEWSWIRE) -- Green Planet Group, Inc. (OTCBB:GNPG) announced today that its wholly owned subsidiary, Xentx Lubricants, Inc. has established a working relationship with a Chinese company, HU NANLI&AN CHEMICAL Co., LTD. HU NANLI&AN have tested various Xentx products and determined that our cetane improver diesel fuel additive is the most effective they have evaluated to date.
Xentx Lubricants has begun negotiations with HU NANLI&AN to initially deliver full containers (84 drums) from Durant, OK and ship them to China through the Port of Los Angeles. The value of this initial order will be approximately $225,000. The pricing for future orders is based upon ongoing negotiations and the volume is projected to be up to 100 containers per year. In addition, we have entered into negotiations for a long term agreement and as the volume of orders increase and when economically feasible, the parties will enter into a joint venture agreement whereby the cetane improver will be manufactured in China and both parties will share profits.
"Diesel fuel in China has a lower cetane rating," stated Edmond Lonergan, President/CEO of Green Planet Group. "Our cetane enhancer boosts the cetane level which improves efficiency by approximately 10% while substantially reducing emissions." Gary Davidson, VP of Green Planet Group, adds, "Currently there is a diesel fuel shortage in China and any product that can improve efficiency is in great demand, and we believe that we will develop a long term and profitable relationship with our strategic partner."About Green Planet Group: Green Planet Group, Inc. (OTCBB:GNPG) is based in Scottsdale, Arizona and engages in ongoing research and development to create products and services that enhance our environment. The Company's revenues are currently derived from the production and distribution of fuel-based energy conservation and clean-air products, as well as through the placement of members of the growing ranks of the unemployed into meaningful "green collar" careers.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV