Relationship To Drive Expansion of GET’s Appearance Products In The $4 Billion Automotive Products Aftermarket
STAMFORD, Conn.--(BUSINESS WIRE)--Green Earth Technologies, Inc. (Pink Sheets: GETG), a manufacturer and marketer of environmentally friendly consumer products, today entered into a strategic relationship with Inventek Colloidal Cleaners, LLC, a Philadelphia-based developer of bio-based colloidal formularies and products, to manufacture automotive appearance products including carwash and windshield rain repellent. Green Earth Technologies (GET) has been granted a perpetual royalty-free license and exclusive rights to global sales for eight products now and for additional products as mutually agreed upon and developed using Inventek’s proprietary technology. Inventek also will manufacture the active ingredients and has made an equity investment on extended payment terms in GET valued at $3 million.
Jeff Marshall, President & CEO of GET, stated, “As an emerging developer of superior performing, totally green products, this strategic relationship will be critical in supporting the manufacturing, financial and human resources needed to put GET’s products onto the retailers’ shelves. Consumers will then be able to replace traditional products with green products without sacrificing performance or paying a premium price.”
Paul Andrecola, Founder and Chief Chemist for Inventek, said, "We love GET's ‘G’-Branded strategy and are confident that consumers will migrate toward the totally green and environmentally friendly characteristics of these products.”
GET’s “G”-Branded products meet ASTM's highest biodegradable ranking Ultimate Biodegradable, which ensures that contents completely biodegrade within 28 days. The products also meet “harmless” OSHA definitions, with the Hazard Ratings on MSDS sheets – sheets required for all consumer products shipped within the USA – scoring zero in the four required areas of health, fire, reactivity and special.
Inventek utilizes proprietary colloidal chemistry, which makes it possible to produce a microscopic particle called a micelle. Micelles are comprised of a collection of linear molecules or fatty esters and fatty acids clumped together in the shape of a sphere about one to four nanometers. For perspective, a human hair is 80,000 nanometers thick; a red blood cell covers 10,000 nanometers; a virus measures 100 nanometers across. These micelles are the workhorses behind the superior performance of GET’s products and the economics that allow this performance to be made available to consumers.
Dr. Zuckerman, CTO and Chairman of GET, stated, "I am extremely pleased that through this agreement we will be able to work closely with the very talented and accomplished founder of Inventek, Paul Andrecola.”
Bio-based and biodegradable, these products contain no polyethylene glycols, benzene, triclosan or other chemicals. Instead, the ingredients are extracted and blended from FDA GRAS (Generally Regarded as Safe) approved food stocks, principally corn, grains, soybeans, and potatoes. The products are non-toxic to humans, animals or plant life. All GET’s ingredients are approved organic materials, and it qualifies for a non-hazardous zero U.S. government rating. Even acute overexposure to the cleaner results in no evidence of adverse effects with respect to swallowing, skin absorption, skin contact, eye contact, repeated overexposure and inhalation.
ABOUT GREEN EARTH TECHNOLOGIES
Green Earth Technologies produces "G" - Branded superior performing totally green products made with American-grown base oils that utilize the power of nanotechnology to deliver environmentally friendly products with no compromise...meaning, consumers can now "do their part" without having to give up performance or value - Save the Earth - Sacrifice Nothing. The G-Brand family of products include G-OIL™, G-WASH™, G-GLASS™, G-SCENT™, G-WHEEL™ and G-TIRE™, and are offered in a wide range of automotive categories including performance & appearance chemicals. Please visit www.GETgreenearth.com or www.getg.com for the latest news and in-depth information about G.E.T. and its brands.
SAFE HARBOR STATEMENTS:
Certain statements in this release regarding future events and developments, future performance, management's expectations, beliefs, plans, or projections are "forward looking statements" within the meaning of the federal securities laws. Such statements are subject to a number of risks and uncertainties, and are based on the Company's current expectations, and speak only as of the date of such statements. Actual Company results may differ materially from any forward-looking statements due to such risks and uncertainties.