PHOENIX, March 31, 2023 (Newswire.com) –
Green Planet Group (OTC PINK: GNPG) revealed today that it renegotiated its previous contract with New A.G.E. Inc. of Waco, Texas and the 2 business have actually signed a Technology License Agreement, efficient since February 28, 2023, and the very first payment has actually been gotten by Green Planet since March 27, 2023.
The significant regards to Technology License Agreement consist of a payment of $2,500,000 as a deposit towards GNPG expense of establishing its food growing, hydrogen, lubrication, and fuel additive innovations, paid over a twelve-month duration; continuous royalty payments of 5 percent (5%) of gross sales, annual sales turning points, starting the very first year of $70.4 Million and increasing over 6 (6) years to $3.68 Billion. In addition, the agreement requires minimum royalties of 3 and one-half percent (3.5%) of the targeted yearly sales; payments made quarterly. The agreement term is fifty (50) years.
Green Planet keeps total ownership of all of its innovation now and in the future, no matter which business enhances any of its innovations.
New A.G.E. has actually developed the New AGE Green Planet Initiative, LLC. and are preparing a $4.6 Billion Private Placement Memorandum with Muinin Capital for this task. As part of this effort New AGE is presently in the architectural preparation phases with Brunton Architects on the restoration of a significant production and system combination center in the Central United States. This factory of roughly 3.5 million square feet has the ability to producer the food growing systems, the on-board hydrogen generator systems, the New A.G.E. hydrogen fueling stations, and other associated items.
The Technology License Agreement likewise supplies that the brand-new business will pay 10 percent (10%) of its operating earnings to Green Planet as a Participation Fee, and deposit 10 percent (10%) of all carbon credits produced into a different account. Green Planet can then identify when it’s proper to offer these carbon credits.
By contracting out sales, production, and setup to New A.G.E., Green Planet will have the ability to concentrate on fine-tuning its innovations and looking for brand-new ones to make market prepared. In keeping with that style, the business likewise looks for to position regional greens production into the hands of an independent Phoenix-area metropolitan farm. The previous head office has actually been closed and the business will look for a brand-new center more commensurate with research study and advancement. The branding, labelling, product packaging and connections to fresh fruit and vegetables wholesalers attained over the previous 2 years will now be provided to our clients.
About Green Planet Group, Inc.
The Company is consisted of 4 completely owned subsidiaries: 2 running business and 2 advancement phase business. The Company’s Healing the Earth subsidiary has actually established a brand-new Fast Track ™ growing system efficient in growing huge quantities of fresh, natural food with exceptionally low water usage. XenTx Lubricants produces lubes and ingredients for gas and diesel motor which decrease emissions and enhance fuel economy. AAQIS is establishing a hydrogen generator which considerably decreases hydrocarbon emissions while enhancing fuel performance in internal combustion engines. Green Mining Technologies is establishing corrective innovation for second mine tailings.
For additional information see: www.greenplanetgroup.com.
Particular declarations consisted of herein are “positive” declarations (as specified – Private Securities Litigation Reform Act of 1995). Green Planet Group, Inc. warns that the declarations made in this news release make up positive declarations and no warranties of future efficiency and real outcomes might vary materially from forecasts in positive declarations. Positive declarations are based upon price quotes and viewpoints of management at the time the declarations are made.
Source: Green Planet Group