Greenbelt Resources announces 7 million share buyback after acquiring 20 percent stake in algae harvesting technology

In Minnesota, Greenbelt Resources announced a 7 million share buyback, following up from its annoucnement that it would acquire 20 percent of Renewed World Energies, an algae oil company that owns a proprietary technology for algae harvesting in covered pond cultivation environments. At the current share price of $0.08, the value of the buyback is $560,000; the stock has falled more than 40 percent this year in value, in line with the general decline of ethanol equities. Greenbelt’s core business is the design, manufacturing and installation of modular ethanol production units utilizing waste materials as feedstocks.

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