SCOTTSDALE, Ariz., June 7, 2011 (GLOBE NEWSWIRE) -- Green Planet Group, Inc (OTCBB:GNPG) announced today that it has completed the negotiations to acquire Global Energy International, LLC and the formal closing of this acquisition is expected before June 30, 2011. Global Energy has developed an in-vehicle hydrogen generator that will improve fuel economy by at least twenty (20) percent.
Global Energy has been researching and developing a new method of using the excess power from a vehicle's alternator to separate water into its basic components of hydrogen and oxygen. The hydrogen gas is then routed into the air intake manifold and then into the combustion chamber. Although other companies are working on similar technology, none have achieved the efficiency of Global Energy. The immediate impact is an improvement in fuel economy of at least 20% and a reduction of approximately 60% in harmful emissions.
"This hydrogen technology supplements over current Xentx products by adding a new dimension to Green Planet's efforts to become the World Leader in improving fuel efficiency and reducing harmful emissions," stated Edmond Lonergan, President/CEO. "Coupled with Xentx Extreme Engine Treatment, total fuel economy will be increased by approximately 26%. Field tests will begin within 10 days to confirm our performance projections."
"We are pleased to be joining Green Planet Group and believe that together we can become the dominant supplier of these technologies World Wide," stated Arnie Boyle, President of Global Energy. "The impact on future revenues could eventually be hundreds of millions."
The Company will continue to provide news releases during the upcoming test to inform all interested parties on its progress.
About Green Planet Group
Green Planet Group, Inc. (OTCBB:GNPG) is based in Scottsdale, Arizona and engages in ongoing research and development to create products and services that enhance our environment. The Company's revenues are currently derived from the production and distribution of fuel-based energy conservation and clean-air products, as well as through the placement of members of the growing ranks of the unemployed into meaningful "green collar" careers. For additional information, please visit www.greenplanetgroup.com.
SAFE HARBOR: Certain information included herein may contain statements that are forward looking, such as statements relating to plans for future expansion and other business development activities. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results.
CONTACT: Gabriel (Gabe) Rodriguez E Relations Group, Inc. 623-255-5750