In California, Greenbelt Resources announced it has successfully achieved its goal of raising $550,000 from individual qualified accredited investors. The investments were offered in the form of either restricted common stock or unsecured interest bearing convertible debentures, with substantially all of the proceeds directed to common stock purchases.

The net proceeds will be used for working capital needs including the transition of the company’s existing RD facility to an operational biorefinery. The funds will also allow Greenbelt Resources to conduct target market research to identify feedstocks that provide the highest potential financial returns from conversion to commercially viable products including advanced biofuels, feed and fertilizer.