GREEN PLANET ANNOUNCES SALE OF FOOD GROWING SYSTEM

Rhea-AI Summary

Green Planet Group (OTC PINK: GNPG) announced the sale of a high-speed growing system from its subsidiary, Healing the Earth, to HG Livestock, LLC. Valued at $90,000, this system aims to grow barley fodder for beef cattle at a Colorado farm. The system will support 12 animals and seeks to validate its effectiveness in high elevations. Colorado's beef industry, valued at $4.0 billion, faces challenges due to widespread drought.

CEO Steve Hammers emphasized the system's water efficiency, using only 3% of the water compared to traditional methods.

Positive

• Sale of a high-speed growing system valued at $90,000 enhances revenue potential.
• The technology could significantly reduce water usage in beef production, addressing drought conditions.

Negative

• The Colorado beef industry is experiencing drought, which impacts production.
• There is uncertainty about the performance validation of the technology in high elevations.

PHOENIX, June 29, 2022 /PRNewswire/ -- Green Planet Group (OTC PINK: GNPG)  announced today that its wholly owned subsidiary, Healing the Earth (HTE) has sold its second high-speed growing system to HG Livestock, LLC and it will be dedicated to growing barley fodder for beef cattle. The farm is located in Peyton, Colorado and the system will be installed into an existing farm building. The growing system is valued at $90,000 and will feed 12 animals, and its goal is to validate that this technology will work in higher elevations.

The Colorado beef industry is the State's largest agricultural segment and its beef sales total approximately $4.0 billion. The industry has 15,000 active producers, 2.85 million head, and creates 170,000 jobs. The National Drought Mitigation Center shows widespread and abnormally dry condition throughout Colorado and 2022 is the driest year to date over the last 128 years.

Mr. Steve Hammers, the President/CEO  stated, "Only by using the latest food growing technology can the beef industry survive in Colorado, and I selected the Healing the Earth system because it provides daily organic, highly nutritious barley fodder using just 3% of the water as field produced crops, at a very competitive cost". 

Steve continued "This system is so revolutionary that before I commit to feed hundreds of beef cattle, I want to validate its overall performance with a small herd. Then I will invite my friends and all other beef producers to visit my farm and see for themselves the value of this technology and how it can positively impact the beef business in Colorado".

This growing system was introduced by Dave Bjorklund, a partner of Pavise, LLC and it represents the first sale from HTE's independent sales and marketing company. Theo Chalgren, CEO and Managing Partner of Pavise, stated, "The world today faces a great challenge as it contemplates feeding its global population. Scarcity of water, supply chain issues and the skyrocketing prices of chemical fertilizers, threaten the very existence of many people on this planet. Beef cattle, fed by this nutritious, organic barley can provide the necessary protein for multiple global communities and we are grateful that Steve has the vision to embrace this disruptive and life-giving technology".                                                                                                               

Dr. Pat Choate, President/CEO of HTE stated " This installation demonstrates that our organic growing system can be scaled from very small to very large operations and will still  deliver the animal health benefits, improve growth rates, reduce veterinarian expenses, and a higher price when auctioned".

For additional information see: www.healingtheearth.net

About Green Planet Group, Inc.
The Company is comprised of four wholly owned subsidiaries: two operating companies and two development stage companies. The Company's Healing the Earth subsidiary has developed a new Fast Track™ growing system capable of growing vast amounts of fresh, organic food with extremely low water use. XenTx Lubricants produces lubricants and additives for gasoline and diesel engines which reduce emissions and improve fuel economy. AAQIS is developing a hydrogen generator which greatly reduces hydrocarbon emissions while improving fuel efficiency in internal combustion engines. Green Mining Technologies is developing restorative technology for placer mine tailings.

For more information see: www.greenplanetgroup.com

Forward-Looking Statements
Certain statements contained herein are "forward-looking" statements (as defined – Private Securities Litigation Reform Act of 1995). Green Planet Group, Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time the statements are made.

View original content:https://www.prnewswire.com/news-releases/green-planet-announces-sale-of-food-growing-system-301578180.html

SOURCE Green Planet Group, Inc.

FAQ

What is the significance of Green Planet Group's announcement on June 29, 2022?

Green Planet Group announced the sale of a high-speed growing system to HG Livestock, which aims to grow barley fodder efficiently for beef cattle.

How much is the high-speed growing system sold by Green Planet Group worth?

The system is valued at $90,000.

How many animals can the new growing system feed?

The system is designed to feed 12 beef cattle.

What challenges does the Colorado beef industry currently face?

The industry is facing widespread drought, impacting production capabilities.

What advantage does the growing system provide regarding water use?

The system uses only 3% of the water compared to traditional field-produced crops.