LUBBOCK, Texas — Global Recycle Energy Inc., formerly Charter Equities, a Texas-based recycling company, has announced that it has redirected its business to focus on the cotton recycling market.

Located in Lubbock, the company’s primary focus is now the accumulation of cotton waste products from cotton growers that it further refines and separates to recapture unusable fibers and then distributes those fibers for sale and use in China.  Those fibers are used in combination with local products and produce a durable, denim-like weave which is then sold to textile mills in need of the stiffer, more resilient fibers.

To align with this new corporate direction, the company changed its name from Charter Equities to Global Recycle Energy Inc. In addition, a restructuring of the corporate presence has been made and new investment has been secured.  The trading symbol was changed, effective April 15, to “GREI” and a 1-for-50 reverse implemented on that date.  The company also moved its state of incorporation from Arizona to Nevada.

Keven Yang has accepted the position as Global Recycle Energy’s president and chairman, while O. C. Carrasco and Lin Yu have joined the company’s Board of Directors.  The company is now headquartered at 1208 14th Street, Suite 500, Lubbock, Texas 79401.