AUSTIN, TEXAS (December 01, 2013). Green Source Energy LLC today announced it has changed its name to Green Source Holdings LLC (“Green Source”). The change is being made to reflect the company’s growth into a broader range of businesses. Green Source was originally focused on energy technologies, but has expanded into areas such as materials recycling and corrosion inhibitors. The new name also reflects a shift in corporate structure from a single unit into a holding company with distinct operating divisions and subsidiaries.
“This is a natural progression in our corporate development and something we have been considering for some time,” said Fitz Lee, Chief Executive Officer of Green Source. “We are excited by the progress we have made in bringing innovation and sustainable solutions across a range of businesses,” Mr. Lee continued.
Under the reorganization, Green Source is divided into three divisions. Austin Rubber Company LLC is a wholly-owned rubber recycling subsidiary. The Green Source Energy name is being retained for the hydrocarbon extraction division. GS Technology is the company’s research and development group, with the mission of advancing and expanding the company’s portfolio of technologies.
About Green Source Holdings LLC
Green Source Holdings LLC, founded in 2007, is a privately-held company that develops and licenses sustainable technologies for enhanced hydrocarbon recovery and polymer recycling. The company is headquartered in Austin, Texas, with offices in Manhattan, Kansas. Green Source owns a family of patented and patent-pending technologies based on a proprietary family of reagents for extracting various hydrocarbons, including from coal and oil sands. The technologies also offer solutions for the devulcanization and recycling of scrap rubber as well as additives to reduce sulfur-based corrosion.
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