Green Planet Projects Major Increase in Revenues
Green Planet Group, Inc. (OTC PINK:GNPG) announced that its subsidiary, XenTx Lubricants, has received necessary approvals from the Nigerian government to sell seven products through its distributor, FirstHypo Tech Ltd. The initial order is valued at $1,000,000, with future orders expected to reach $2,500,000. The distribution agreement ensures full payment before shipment. FirstHypo's chairman anticipates strong demand for American-made products in Nigeria, supported by a potentially expanded market in other African nations.
- Approval of seven XenTx products for sale in Nigeria enhances market access.
- Initial order valued at $1,000,000 with potential future orders of $2,500,000.
- None.
PHOENIX, AZ / ACCESSWIRE / July 28, 2021 / Green Planet Group, Inc. (OTC PINK:GNPG), an emerging leader in green technology, announced today that its wholly owned subsidiary, XenTx Lubricants' Nigerian international distributor, FirstHypo Tech Ltd, has obtained government required approvals to sell seven of the XenTx products in its country. The Federal Ministry of Trade and Investment issued the Trademark Acceptance Letters on July 11, 2021.
Nigeria is the most populous country in Africa and has 60 million generators and 11 million vehicles. The market for emission reduction and improved fuel efficiency products is tremendous. The first orders from FirstHypo will include the XenTx products packed into four 40 ft. sea cargo containers. The initial order is valued at
The chairman of FirstHypo, Mr. Chuks Iku stated, "American made products are considered superior products by consumers, and I predict that the demand for these products will grow and become very successful in my Country." He continued, "we expect to have a long and profitable relationship with XenTx Lubricants."
The distribution agreement was negotiated through U.S.- based international marketing consultant BizCbook, which has expressed those similar arrangements can be established in Ghana, Ethiopia, and the Democratic Republic of Congo. The company has agreed to proceed with the negotiations.
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.
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.
CONTACT:
Edmond L. Lonergan, Founder and General Manager
elonergan@greenplanetgroup.com
Phone: 602-529-1550
SOURCE: Green Planet Group
View source version on accesswire.com:
https://www.accesswire.com/657342/Green-Planet-Projects-Major-Increase-in-Revenues
FAQ
What recent approval did Green Planet Group receive for its products?
What is the estimated value of the initial order from Nigeria for GNPG's products?
How much does Green Planet Group expect future orders to increase to in Nigeria?
Who is the distributor for XenTx Lubricants in Nigeria?
What benefits does the distribution agreement provide for GNPG?
