NEW YORK, April 15, 2011 (GLOBE NEWSWIRE) -- Golden Spirit Enterprises Ltd. (OTCBB:GSPT) reports that discussions are underway with a private Chinese company and government representatives from Guangxi, China who are interested in beta-testing the Company's fuel alternative, Terralene Fuel, which is a patented fuel formulation that reduces carbon emissions by up to 25%.
Reducing carbon emissions is a priority in China at this time due to its heavy industries and auto congestion on the roads. The fact that Terralene is both cost effective and price competitive with gasoline is attractive.
Guangxi is located in the southern part of China and the important crops grown include maize/corn and sugarcane; both of these commodities are used to produce ethanol.
Guangxi consumes approximately 300 million gallons of gasoline per year of which 20% of that is E10 (10% ethanol/90% gasoline).
The Company has been asked to prepare a joint venture proposal and budget on the requirements of funding a blending facility to accommodate approximately 30 million gallons of Terralene per year to begin with. Upon completion and acceptance of the proposal, the Company will be required to send a delegation consisting of technical experts to assist the Chinese parties with the construction and assembly of the blending facility in Guangxi. The initial beta-test with Terralene will be with corporate or government fleets or taxis. Additional details will be reported as they happen.
Mission Statement:
Golden Spirit Enterprises Ltd. is an environmentally, socially conscious Company specializing in green technologies which will assist in fighting global warming.
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Jaclyn Cruz
Jaclyn Cruz, President
For further information contact: 1-888-488-6882
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Golden Spirit's filings with the Securities & Exchange Commission.
CONTACT: Jaclyn Cruz, President 1-888-488-6882 www.goldenspirit.ws