Business
The Sustainable Green Team, Ltd. Receives Invested Interest Increase from Green Tech innovator in Carbon Capture Technology (VRM Global Holdings Pte Ltd)
The Sustainable Green Team, Ltd. Receives Invested Interest Increase from Green Tech innovator in Carbon Capture Technology (VRM Global Holdings Pte Ltd).
About this update from Sustainable Green Team, Ltd.
[{"type":"text","content":"\n Orlando, FL, May 25, 2023 (GLOBE NEWSWIRE) -- The Sustainable Green Team, Ltd. (OTCQX: SGTM) (“SGTM” or the “Company”), a provider of environmentally conscious solutions in the arbor care, disposal, and recycling industries strengthens partnership with VRM Global Holdings Pty Ltd. (“VRM”) by increasing their invested interest in SGTM. In addition to SGTM’s recent $46.8 million HumiSoil® Purcahse Order from VRM Biologik Middle East and Africa, the Company entered into a Purchase Agreement with New Earth Technologies Pte Ltd. which allows SGTM to obtain additional catalyst ingredients to manufacture HumiSoil® and other related products, enough to produce an additional 4 million cubic yards. Further, SGTM entered into an Agreement Amendment and Share Issuance amending the Agreement between VRM and the Company, dated August 9, 2022, pertaining to a Restricted Sub-License Agreement. VRM has extended its U.S. footprint by an investment into SGTM. VRM acquired a further 7,000,000 shares of common stock in SGTM as part of a comprehensive program to build production capacity for its core soil health technologies. According to the terms of the Agreement Amendment, VRM increases their invested interest in the Company where SGTM shall issue 7,000,000 shares of common stock in lieu of $7,000,000 in cash payments previously required by the Restricted Sub-License Agreement to produce its world-leading soil moisture technology in the U.S., HumiSoil® and XLR8 Bio®. SGTM’s proven capacity to capture and process large volumes of wood waste which act as basis for HumiSoil®. With recent acceptance of patents for its Large Scale Biological Hydrosynthesis techniques, VRM Biologik now offers a key element of revegetation and soil building programs globally. HumiSoil® and XLR8 Bio® are soil treatment products that rebuild soil hydration on a cellular level, improving the soil and the vegetation and agricultural products. The Company, which has multiple production facilities and green vegetation recycle sites, will make HumiSoil® and XLR8 Bio® available for home gardens and lawns through the U.S. to help relieve water use and help with the mission to restore depleted topsoil in 25 percent of the world’s arable land. This technology catalyst is applied to...