Green Oasis Environmental, Inc. Extends Agreement With Manova A.S. Istanbul, Turkey
CHARLESTON, S.C., Aug. 5 /PRNewswire/ -- Green Oasis Environmental, Inc. (OTC Bulletin Board: GRNO) announced today it has extended the equipment purchase agreement with Manova A.S. as a result of political developments in Turkey: early elections and the parliament holiday. Manova stated they are seeking a Decree from the Ministers of High Planning Committee which is an option to create the legislation Manova seeks to establish a waste oil collection system and complete the purchase of a GOE plant for processing in Turkey, however, the time required for such approval law/decree remains uncertain. Under the agreement GOE would be a minority owner of the operating company.
William D. Carraway, President of the Company, stated, GOE and Manova continue to explore the mutual opportunities of manufacturing GOE plants by Manova in Turkey for export to Europe and Asia. Manova has established facilities, staff, engineers, and the ability to provide the manufacturing services GOE seeks. GOE would oversee production, installation, train operators, and start-up the plant regardless of the manufacturing location. The location is perfect, however, until Manova has an operating plant in Turkey to demonstrate the working process to customers from Europe and Asia. GOE plans to keep its options open regarding a 3.5 billion gallon a year waste oil market. Our first objective must be securing exclusive marketing agents to expose the technology opportunity of processing waste oils into diesel fuel where the retail prices are $3.00 to $5.00 per gallon.
Green Oasis patent-pending process is designed to produce marketable fuels from waste oils in a closed cycle, one step process. The Company manufactures equipment for its own use as well as markets worldwide.
SOURCE Green Oasis Environmental, Inc.
CO: Green Oasis Environmental, Inc.; Manova A.S.
ST: South Carolina, Turkey
IN: ENV
SU:
08/05/98 09:51 EDT http://www |
