Green Energy Resources: Trial Order
Green Energy Resources is developing a 10,000 BTU wood pellet using a high energy woodchip. Working with a Dutch partner testing is underway in Europe converting the woodchips into pellets. The pellet is designed for co-firing with coal for the power generating industry. 51% of American electric power is generated from coal. American power companies are currently conducting various co-firing tests nationwide. Most wood pellets contain only 7500-8500 BTUs of heat energy. The new pellet represents a significant breakthrough in technology and the first super energy pellet for commercial application. Successful testing would lead to commercial distribution in 2011. Green Energy Resources has received at least one commitment to test the new pellets as soon as they are available. Scientific lab test results are expected in May.
In other News, Green Energy Resources shipped a load of High Energy woodchips to Sweden for trials. Positive tests results portends a 2 year contract of 360,000 tons annually valued at $31 million per year ($62 million over 2 years) in gross revenues. Trial results should be completed in May with volume shipments to commence the fall 2010.
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
Joseph Murray, 212 730 1496