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GGX Announces Frac Water Heating Technology Success

Date : 11/09/2012 @ 1:54AM
Source : Marketwired

GGX Announces Frac Water Heating Technology Success


Global Green Matrix Corp. ("GGX" or the "Company") (TSX VENTURE:GGX)(OTCBB:GGXCF)(BERLIN:A0LGDN)(FRANKFURT:POZ) -

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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 technology.

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 ordered.

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 fracking operations.

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 release.

Contacts: Global Green Matrix Corp. Randy Hayward President 250-247-8689 or 604-687-8855 604-628-5001 (FAX)info@globalgreenmatrix.com www.globalgreenmatrix.com



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