Plastics Conversion Technologies Announces a Land Acquisition and Development Agreement...

Plastics Conversion Technologies Announces a Land Acquisition and Development
Agreement With the City of Fond du Lac, WI.

SEATTLE, May 19, 2009 (GLOBE NEWSWIRE) -- GeoBio Energy, Inc. (Pink
Sheets:GBOE), d/b/a Plastics Conversion Technologies, Inc. (PCT), a
Colorado-based plastics cleaning, separation, and recycling company, today
announced a land acquisition and development agreement with the City of Fond du
Lac, WI. The agreement stipulates that PCT will purchase 12.24 acres of
developable land in the Southwest Industrial Park, located just outside the
city.

In Fond du Lac, PCT plans to construct a plastics recycling and conversion
facility. The plant will be operated by EnviroPlastics, Inc., a wholly-owned
subsidiary of Plastics Conversion Technologies. PCT has already announced its
involvement with the State of Wisconsin and the City of Fond du Lac in a
$20,000,000 municipal bond program geared toward business development and job
creation within the state.

Gary De Laurentiis, founder and COO of PCT, stated, "This is an absolutely ideal
location for our company to build a facility. It is situated almost halfway
between a large supplier (our source of Auto Shredder Residue), and the landfill
where that supplier has been transporting the very waste materials that we'll be
cleaning and recycling. In addition, we'll be bringing in a 1.5 mile rail spur
to the completed facility, giving us access to nationwide freight service from
the plant for our recycled materials."

Added Brenda Hicks-Sorenson, President of the Fond du Lac County Economic
Development Corporation: "When EnviroPlastics decided that Fond du Lac County
was a good fit for their needs and their company, we were pleased to know that
we would have the opportunity to continue to work with them and to have Plastics
Conversion and EnviroPlastics as part of the strong business community in Fond
du Lac County."

About Plastics Conversion Technologies:

Plastics Conversion Technologies is a plastics recovery, separation, cleaning,
and recycling company. It was formed in 2009 via the merger of GeoBio, Inc. and
EnviroPlastics, Inc., with the intent to supply recycled commercial plastics to
industries such as the automotive and consumer products industries, and it plans
to construct large-scale plastics recycling facilities near automotive shredder
locations nationwide. Operating in conjunction with large national metal
recycling partners (see "Strategic Partners"), the company, using a
patent-pending process developed by EnviroPlastics, will produce recycled
commercial grade plastics ready to be re-introduced into commerce. Additionally,
in conjunction with other Strategic Partners, PCT will convert waste and scrap
plastic (both from its own processing and from other sources) into high-value
energy products, including synthetic oil.

For more information, please go to: www.enviroplasticscorp.com.

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The EnviroPlastics Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6107

"Forward-looking statements," as defined in the Private Securities Litigation
Reform Act of 1995, may be included in this press release. These statements
relate to future events and/or our future financial performance. These
statements are only predictions and may differ materially from actual future
events or results. GEOBIO disclaims any intention or obligation to revise any
forward-looking statements whether as a result of new information, future
developments or otherwise. Please refer to the documents filed by GEOBIO with
the Securities and Exchange Commission, which identify important risk factors
that could cause actual results to differ from those contained in
forward-looking statements, including, but not limited to risks associated with
our ability to (i) obtain additional financing, (ii) generate revenues, (iii)
obtain profitability, (iv) manage changes in general economic and business
conditions (including in the asset management and asset tracking industries),
(v) react to actions of our competitors, (vi) develop new services and markets
for our services, (vii) properly quantify the time and expense involved in such
development activities, (viii) identify and manage risks in connection with
acquisitions (ix) evaluate the level of demand and market acceptance of our
services and (x) make necessary changes to our business strategies.

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CONTACT: Plastics Conversion Technologies
Geoff Meagher
(206) 322-5586