Green EnviroTech Holding Post 1st Quarter Update

Written by Newsfile

Seattle, Washington--(Newsfile Corp. - March 1, 2021) - Green EnviroTech Holdings, Inc. (OTC Pink: GETH) ("GETH or the "Company"), an emerging leader in the processing of waste plastic and tires into commercially viable products such as oil, electric and carbon black, is pleased to report its progress toward its 2021 objectives and goals.

This first quarter of 2021 update is provided to give a status on our major goals for 2021. In our year end press release for 2020, we identified several goals for 2021 that are summarized below. We will continue these press releases on at least a quarterly basis. We will also provide updates if any major events occur throughout the year.

As part of realizing our goals, we have been engaging with a major insurance provider for the past year that can underwrite the technology we are licensing. We received confirmation from this insurance provider that they will insure the technology in January 2021. This was a significant accomplishment in confirming our lender and potential investors. In addition, we have engaged with three major contractors to fulfill on our EPC (Engineering Procurement and Construction) needs to design and build the planned industrial plants.

In 2021, we will strive to accomplish the following goals.

Goal1: Complete our audit bringing the company current

We are in negotiations with various sources of investment that focus on the funding necessary to complete the financial audits and quarterly filings to bring GETH current. The increase in our stock price has made it possible to acquire this support.

Goal2: Begin construction on our first licensed plant

In collaboration with US WTE Investments, we have identified a lender that has confirmed they will provide the funding necessary if we can provide the proper de-risking items such as insurance, engineering, and financial coverage. These requirements are achievable. We are working towards a location domestically and other locations internationally.

Goal3: Consolidate our debt structure and make progress in cleaning up our balance sheet

In progress

Goal4: Realize of our first revenues

See goal 2. Once we finalize the financing for the first plant, we will realize licensing and construction revenues.

About Green EnviroTech Holdings, Inc.

Green EnviroTech Holdings, Inc. is a publicly traded company under the symbol GETH. The Company was founded in 2008. Our mission is to find and implement practical, economical solutions that will clean up the environment, create local jobs and stimulate economic growth in the communities where we do business.

Forward-Looking Statements

This press release may contain forward-looking statements, including information about management's view of GETH's future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GETH, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GETH's future results. The forward-looking statements included in this press release are made only as of the date hereof. GETH cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GETH undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GETH.

Corporate Contact:

markg@greenenvirotech.com www.greenenvirotech.com ^[1]^[2]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75702 ^[3]

References

^{^} markg@greenenvirotech.com (www.newsfilecorp.com)
^{^} www.greenenvirotech.com (www.newsfilecorp.com)
^{^} https://www.newsfilecorp.com/release/75702 (www.newsfilecorp.com)