GGX Announces Frac Water Heating Technology Success
November 08 2012 - 3:24PM
Marketwired
Global Green Matrix Corp. ("GGX" or the "Company") (TSX
VENTURE:GGX)(OTCBB:GGXCF)(BERLIN:A0LGDN)(FRANKFURT:POZ) -
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Global Green Matrix Corp. ("GGX" or the "Company") - (TSX
VENTURE:GGX)(OTCBB:GGXCF)(BERLIN:A0LGDN)(FRANKFURT:POZ) - announced
today the success with its newly acquired water heating
technology.
GGX is pleased to announce its recently acquired company,
1503826 Alberta Ltd., carrying on business as Intercept Rentals,
purchased earlier this year, has accepted delivery and taken
possession of its first heating truck called "Big Heat." The
technology associated with this unit was developed and manufactured
by Energy Heating LLC located in Idaho, USA, has patents pending
with regard to the technology.
The Company is also pleased to announce the completion of
several jobs with major oil and gas companies working in Alberta to
heat water that is used for fracking purposes. Intercept Rentals
will remain focused on obtaining additional work from companies
presently working in Western Canada. Revenue derived from the
rental of Big Heat is not disclosed herein for competitive reasons
but will be disclosed in the Company's upcoming audited financial
statements for the year ended December 31, 2012 that will be
available on SEDAR.
With the demand for heating units established, Intercept Rentals
purchased a second heating unit and anticipates taking delivery
within the next 30 days. Additional units are in the process of
being ordered.
Intercept Rentals has the exclusive use of and right to operate
the water heating units/technology in Canada and has additional
rights in the USA as may be agreed upon.
GGX President and CEO, Randy Hayward states, "The revenue
derived from the rental of "Big Heat" is the beginning of a new and
important source of revenue for the Company. We look forward to
adding additional units in the near future to help us satisfy the
growing demand of the oil and gas industry."
About Intercept Rentals
Intercept Rentals, an oilfield rental company, was purchased by
GGX in March 2012. Intercept Rentals signed an agreement with
Energy Heating LLC in Idaho and Canadian Energy Heating, that gives
Intercept the exclusive Canadian rights to a new technology that
provides a method of heating water used by oil companies in their
fracking operations.
About Global Green Matrix Corp. (www.globalgreenmatrix.com)
Global Green Matrix Corp. is an Oilfield Services Firm
specializing in unconventional energy extraction and related
services such as fracking, oil sands processing and other
unconventional energy sources, such as Municipal Solid Waste. GGX
uses its access to a set of proprietary technologies to provide its
clients the tools to go beyond traditional extraction techniques
and increase the productivity of their unconventional field
operations.
This news release may contain assumptions, estimates, and other
forward-looking statements regarding future events. Such
forward-looking statements involve inherent risks and uncertainties
and are subject to factors, many of which are beyond the Company's
control that may cause actual results or performance to differ
materially from those currently anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Contacts: Global Green Matrix Corp. Randy Hayward President
250-247-8689 or 604-687-8855 604-628-5001
(FAX)info@globalgreenmatrix.com www.globalgreenmatrix.com