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(TM), G-WASH(TM), G-GLASS(TM), G-SCENT(TM), G-WHEEL(TM) and
G-TIRE(TM), 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.
ICR
Media:
Brian Ruby, 203-682-8268
brian.ruby@icrinc.com
or
Investors:
Ina McGuinness, 310-954-1100
Copyright Business Wire 2008
