GCEI Booked For $8.7 Million, Going for $20 Mil

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HOUSTON, TX–(Marketwire – Oct 10, 2012) –  Global Clean Energy, Inc. (PINKSHEETS: GCEI) has initiated its first round of funding negotiations with three lenders. The effort is being led by Earl Azimov, President/CEO; the objective is to do a combination of asset based lending and a line of credit. The total funding objective is twenty million dollars over the next eighteen months. “The reception to the business plan and cash flows for the company has had excellent response,” stated Azimov. The company is attempting to finance its ongoing operations without diluting its stock. The funding will provide the necessary capital to complete the acquisition of Houston Industrial Materials and begin the work on construction of the company’s gasification unit.

The grants division of GCEI has filed applications for grants totaling $8.7 million to seek demonstration projects on its Jatropha and landfill system in the southern United States. The company is in the final process of applying for grants for the utilization of its vortex pumping system to bring methane hydrates safely to containment.

See full PR here: http://www.marketwire.com/press-release/global-clean-energy-inc-sets-funding-goals-and-grant-application-budget-pinksheets-gcei-1711456.htm


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