Sustainable Green Team, Ltd. (SGTM) Signs Letter-of-Intent Expanding Their Footprint in the Northeast Region

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 XLR8Bio. 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 XLR8Bio 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 XLR8Bio 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 XLR8Bio. 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.