Green Energy Resources: $36 Million Deal
Green Energy Resources received 2 new orders for high energy woodchips valued at over $36 million. The super charged woodchips produced in excess of 16,000 BTUs in lab tests and up to 19,000 BTUs at 0% dry. The woodchips are equal or better than most grades of coal without the carbon emissions. The tests were conducted by an independent 3rd party international scientific testing agency (SGS) and the U.S. Forest Products Testing Laboratory rated the woodchips among the highest in North America. The contracts are contingent on successful trial orders. The woodchips will be shipped from Texas in the 2nd qtr.
2010 Hurricane Season
7 land falling hurricanes are predicted for 2010 according to the U.S. Storms Prediction Center. Green Energy Resources is making preparations to obtain as much volume of wood as possible from any storms that hit the U.S. mainland. Discussions are currently underway with FEMA contractors. Green Energy Resources is looking to secure upwards of 5 million tons in 2010. The volume would make Green Energy Resources the largest supplier and source of energy feedstock in the United States. The wood will be used for several export markets, the largest of which is India. Green Energy Resources received an LOI for up to 7 million tons, valued at approximately 1/2 billion dollars annually, from India last fall. Green Energy Resources is waiting on power plant retro fits to begin making shipments which are expected to be completed at any time.
In 2005, Green Energy Resources developed an exclusive concept and product to promote co-firing, a premixed blend of biomass with coal. The U.S. market was not ready in 2005 to commence co-firing and was scoffed at by one of America's largest coal producers. Finally, in 2010, US trial testings at coal power generators are getting underway. Green Energy Resources has found a European partner to develop and produce the product in the United States. Two locations are being currently considered.
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 company's 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