The Sustainable Green Team LTD (OTCMKTS:SGTM) announced on October 24, 2022, about its subsidiary, National Storm Recovery, signing a 5-year lease agreement for approximately 10 acres of industrial land in Ocoee, FL.
Trading Data
On Monday, SGTM stock ended flat at $6.11 with more than 4.41K shares, compared to volume of 4.28K shares. The stock moved within a range of $6.00 – 6.11 after opening trade at $6.11.
The Sustainable Green Team Subsidiary, National Storm Recovery, Expands Into Additional Wood Recycling Facility
National Storm Recovery is to use the site for an additional wood recycling facility, which has been utilized for wood waste recycling for the last decade. Services from this facility are intended to support the City of Ocoee, Orange County, Florida and the State of Florida by providing a temporary storm debris and staging site for disaster-related contractors and for the collection and short-term storage of landscape and tree debris as part of any disaster recovery efforts.
The Sustainable Green Team has signed an agreement with Australia-based VRM Biologik Group, to introduce VRM’s cutting-edge soil moisture technology, HumiSoil and XLR8 Bio to the United States. It will make use of VRM BioLogik’s Groundswell Continuous Fermentation process to generate soil treatment products that rebuild soil hydration on a cellular level from the collected vegetative and wood waste.
Tony Raynor, founder, president, and CEO of The Sustainable Green Team, said that the timing of the leasing of this new wood recycling facility is perfect, as it is less than a month after Hurricane Ian hit. It deposited millions of tons of organic material in Florida, so waste facilities are stretched to the limit. Together with VRM, they are working to collect storm debris and process it using their exclusive technology, to avoid wholesale gas emissions. It will also become a resource for depleted soils in the form of VRM’s world-leading soil moisture technology.
Key Quote
Tony Raynor, founder, president, and CEO of The Sustainable Green Team, commented, “The timing of our National Storm Recovery subsidiary leasing this new wood recycling facility couldn’t be better coming less than one month after Hurricane Ian hit and our recent partnership with VRM Biologik was announced. Hurricane Ian turned out to be a top 5 U.S. storm and may have caused as much as $67 billion in damage in Florida.”
Technical Data
SGTM stock is trading above the 20-Day and 50-Day Moving averages of $2.94 and $2.61 respectively. However, the stock is trading below the 200-Day moving average of $6.43.
