Green Bridge Technologies Signs LOI to Purchase Zap Industries

Green Bridge Technologies International, Inc., has signed a Letter of Intent to purchase 100 percent of the outstanding shares of Zap Industries, Inc. and Green Bridge Institute, LLC., from Green Bridge Industries, Inc.

The transaction is subject to customary due diligence and execution of a definitive agreement, which both parties expect to be completed within the next 30 days.

Green Bridge Industries offers non-toxic, environmentally friendly cleaning products to fit the sanitation needs of the medical, agricultural, military, and retail markets.

The company, through its proprietary technology, has the ability to develop bio-renewable alternative cleaning products, which are superior to the synthetic products currently offered in the marketplace.

"By purchasing Zap Industries and The Green Bridge Institute, we will complement our technology development activities and will immediately be positioned to deliver revenues through new sales and distribution channels”, said Leonard Baxter, CEO of Green Bridge Technologies (News - Alert) International, Inc, in a statement.

Baxter said that with this agreement GRBT will be the exclusive retail sales and distribution partner for Green Bridge Industries.

He said that in addition, the Green Bridge Institute will enhance its ability to develop the technologies of the Vaportech Division.

“We also anticipate that the increased revenue from 'Zap' brand retail sales will allow us to accelerate technology development," said Baxter.

Green Bridge Technologies International, Inc. is a technology-based company that concentrates on developing and marketing new products and services, aimed at improving the world through green technologies.

Back in June Green Bridge Technologies had announced that the company now has Patent Pending status on its Encapsulated Vortex Technology (EVT).

The U.S. Patent and Trademark Office have acknowledged receipt of the company's patent application, filed by the company on June 3, 2010.

This technology has a number of practical applications and is the base technology used in Green Bridge's vortex muffler design.

In addition, the company's EVT is the technology behind its cutting edge vortex vapor device, which allows engines to operate more efficiently, resulting in increased fuel efficiency and reduced fossil fuel consumption.