ORLANDO, Fla., March 28, 2024 (GLOBE NEWSWIRE) -- Sustainable Green Team, Ltd. (OTCQX: SGTM) ($SGTM), a leading Company in climate reversing technologies and provider of sustainable solutions, announces signing a Letter-of-Intent (LOI) with D2E. The agreement calls for an innovative collaboration focused on manufacturing, distribution, and sales of sustainable, eco-friendly products in the Northeast United States. Upon entering into a Definitive Agreement, the partnership aims to revolutionize the region and expects to generate over $50 million in revenue from July 2024 to June 2027.
Under the terms of the LOI, Sustainable Green Team, Ltd. will take the lead in manufacturing and technology transfer for groundbreaking products like XLR8®Bio. In addition, The Company's subsidiary SGTM-VRM, LLC, will oversee the manufacturing and supply of HUMISOIL® and its related offerings. The partnership’s structure with D2E ensures these eco-friendly products' distribution, sales, and manufacturing across multiple states, including Pennsylvania, New Jersey, New York, Connecticut, Rhode Island, Massachusetts, Vermont, New Hampshire, and Maine.
Upon entering into a Definitive Agreement, the partnership will unfold in three essential phases: strategy development, knowledge transfer, and expanded product offerings.
During the first phase, scheduled for completion by the end of the second quarter of 2024, D2E will collaborate closely with SGTM-VRM to devise and test a comprehensive sales, marketing, and distribution strategy for HUMISOIL® and XLR8®Bio in the designated territory.
Moving into the second phase, SGTM-VRM will facilitate the transfer of knowledge and technology to D2E. This transfer will empower D2E to establish a robust system and infrastructure for manufacturing, distributing, and selling HUMISOIL® and XLR8®Bio within the territory. This phase is anticipated to conclude by the end of the third quarter of 2025.
The third and final phase will witness D2E taking the reins in manufacturing, sales, and distribution of HUMISOIL® and XLR8®Bio. D2E will also introduce new products dedicated to waste mitigation, odor elimination, and bio-cleaning. This phase is slated to commence in August 2025.
With a target of generating over $50 million in revenue from July 2024 to June 2027, the Definitive Agreement will outline the partnership with its specific obligations and terms, including but not limited to manufacturing, sales, and distribution agreements and a license agreement.
SGTM and D2E are excited about this sustainable collaboration, which will bring eco-friendly solutions to the Northeast United States. By combining SGTM's manufacturing expertise with D2E's extensive distribution network, this partnership will significantly impact the environment and the communities we proudly serve.
"The size of the Northeastern U.S. market will provide Sustainable Green Team, Ltd. a significant opportunity to collect and recycle a seemingly endless volume of food and fiber waste at scale,” said Tony Raynor, CEO/President of SGTM. “The relationship will provide an engine for enormous growth in manufacturing and selling our products within the region and exporting them to outside and overseas markets.”
For media inquiries or further information, please contact Tony Raynor at 1-407-886-8733 and traynor@sgtmltd.com.
About Sustainable Green Team, Ltd. (OTCQX: SGTM) ($SGTM):
Sustainable Green Team, Ltd. (OTCQX: SGTM) ($SGTM) is a leading Company in climate reversing technologies, a provider of sustainable solutions to improve environmental health, promote sustainable practices, and deliver eco-friendly products and services. SGTM aims to make significant contributions to global sustainability; learn more by visiting the Company website, https://thesustainablegreenteam.com/, SGTM's YouTube Channel, corporate videos - https://www.youtube.com/watch?v=xJ7Dp9Coi88&t=1s & https://www.youtube.com/watch?v=Kycfy-UvQsU, and SGTM's Blogs - https://thesustainablegreenteam.com/sgtm-blog.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products, and services, competitive positions, growth opportunities, plans and objectives of Management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. The Company cautions readers not to rely on any such forward-looking statements, which speak only as of the date made. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact:
Tony Raynor, CEO
Sustainable Green Team, Ltd. (OTCQX: SGTM) ($SGTM)
Traynor@sgtmltd.com
407-886-8733
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5aceac15-9452-46a4-8d7f-d3009744859c
