Green Energy Resource: Focus on US Biomass market
Green Energy Resources a new US Federally funded program for biomass suppliers will redirect the focus of Green Energy Resources from export markets to US domestic supply. Green Energy Resources has been waiting 5 years for the US market to develop. The Biomass Crop Assistance Program (BCAP ) became available this August via the 2008 US Farm Bill. The program makes matching payments directly to suppliers upto $45 per ton. The plan puts wood chips on a par with gas, coal, and oil as a bonafide energy commodity transportable around the country. Green Energy Resources looks to expand and accelerate domestic supply contracts to take advantage of the new program. Green Energy Resources recently announced 10 year $300 million domestic supply contract will be accelerated from Spring / summer of 2010 to Fall of 2009 and qualify under the federal rules. The contracts' volume have also been increased from 1.25 million tons annually to between 1.5 million tons.
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings,ship availability, fuel costs and other risks.
Green Energy Resources
275 Madison Avenue
New York, NY 10016
Joseph C. Murray
President and CEO