Ecorntech and His Excellency Skeikh Sultan Al Qasime Announced Green Joint Venture

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Ecorntech, a green technologies pioneer and His Excellency Sheikh Sultan Al Qasimi, Chairman and CEO of Gulf Holdings LLC, one of the United Arab Emirates largest holding companies, today announced their partnership company, Ecornfiber Middle East.

Ecorntech, a green technologies pioneer, and His Excellency Sheikh Sultan Al Qasimi, Chairman and CEO of Gulf Holdings LLC, one of the United Arab Emirates largest holding companies, today announced their partnership company, Ecornfiber Middle East, a joint venture established to produce Ecornfiber, a revolutionary fiber material made from corn stover, the worlds largest agricultural residue, which can be used to produce products traditionally manufactured with wood-fiber.

"Ecorntech's proprietary technology allows us to utilize corn stover to make one of the world's best performing, cost efficient and earth-friendly lines of composite board, and paper pulp based products. It makes superior primary building and paper materials, and contributes to the reduction of deforestation, carbon emissions and climate change," said Yoo S. Kim, Ecorntech's CEO and President.

"We are delighted to enter into this dynamic partnership with His Excellency Sheikh Sultan Al Qasimi," said Kim."The Ecornfiber plants will be locally based, processing massive amounts of agriculture residue to create high-value products with lower environmental impact than the use of traditional wood-fiber manufacturing. Ecornfiber Middle East will introduce innovative technology, jobs, and factories into the region," said Kim.

The global need for wood-fiber is insatiable consuming billions of trees annually. Deforestation accounts for 25% of all CO2 emissions. The wood and paper manufacturing process consumes enormous amounts of energy, and utilizes highly toxic chemical pollutants. Ecorntech's products and technologies significantly lessen the environmental impact of these two behemoth industries, all the while improving the bottom line.

About Ecorntech
EcorntechTM is pioneering the technologies and processes to transform corn stover, the world's most abundant form of agriculture residue -- into one of the world's best performing, cost efficient, and earth-friendly lines of composite board, and paper pulp based products. Its technology outperforms today's wood-fiber material and manufacturing requirements, providing significant cost savings. Ecornfiber based products are also made using "cleaner" and more efficient manufacturing processes and safer glues and resins, increasing manufacturing throughput, and producing additional positive environmental and cost benefits. For more information visit: http://www.ecorntech.com

About Gulf Holdings
Established in 1982 out of an opportunity identified by His Excellency Sheikh Sultan Al Qasimi, for foreign countries to establish themselves in the United Arab Emirates UAE, Gulf Holdings is one of the United Arab Emirates largest holding companies, based on diversification of activities and number of companies, with annual growth in excess of 100% for the last 25 years. There are over 50 companies in its portfolio. Gulf Holdings has interests including freight, scrap metal, construction, retail sites, leisure yacht charting, mobile IT technology and small business manufacturing.

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