GGX Announces Frac Water Heating Technology Success
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/08/12 -- Global
Green Matrix Corp. ("GGX" or the "Company") (TSX
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Global Green Matrix Corp. ("GGX" or the "Company") - (TSX
VENTURE:GGX)(OTCBB:GGXCF)(BERLIN:A0LGDN)(FRANKFURT:POZ) - announced
today the success with its newly acquired water heating technology.
GGX is pleased to announce its recently acquired company, 1503826
Alberta Ltd., carrying on business as Intercept Rentals, purchased
earlier this year, has accepted delivery and taken possession of its
first heating truck called "Big Heat." The technology associated with
this unit was developed and manufactured by Energy Heating LLC
located in Idaho, USA, has patents pending with regard to the
The Company is also pleased to announce the completion of several
jobs with major oil and gas companies working in Alberta to heat
water that is used for fracking purposes. Intercept Rentals will
remain focused on obtaining additional work from companies presently
working in Western Canada. Revenue derived from the rental of Big
Heat is not disclosed herein for competitive reasons but will be
disclosed in the Company's upcoming audited financial statements for
the year ended December 31, 2012 that will be available on SEDAR.
With the demand for heating units established, Intercept Rentals
purchased a second heating unit and anticipates taking delivery
within the next 30 days. Additional units are in the process of being
Intercept Rentals has the exclusive use of and right to operate the
water heating units/technology in Canada and has additional rights in
the USA as may be agreed upon.
GGX President and CEO, Randy Hayward states, "The revenue derived
from the rental of "Big Heat" is the beginning of a new and important
source of revenue for the Company. We look forward to adding
additional units in the near future to help us satisfy the growing
demand of the oil and gas industry."
About Intercept Rentals
Intercept Rentals, an oilfield rental company, was purchased by GGX
in March 2012. Intercept Rentals signed
an agreement with Energy
Heating LLC in Idaho and Canadian Energy Heating, that gives
Intercept the exclusive Canadian rights to a new technology that
provides a method of heating water used by oil companies in their
About Global Green Matrix Corp. (www.globalgreenmatrix.com)
Global Green Matrix Corp. is an Oilfield Services Firm specializing
in unconventional energy extraction and related services such as
fracking, oil sands processing and other unconventional energy
sources, such as Municipal Solid Waste. GGX uses its access to a set
of proprietary technologies to provide its clients the tools to go
beyond traditional extraction techniques and increase the
productivity of their unconventional field operations.
This news release may contain assumptions, estimates, and other
forward-looking statements regarding future events. Such
forward-looking statements involve inherent risks and uncertainties
and are subject to factors, many of which are beyond the Company's
control that may cause actual results or performance to differ
materially from those currently anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
Global Green Matrix Corp.
250-247-8689 or 604-687-8855
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