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Newsroom - Clients - GRGR
The following news and investment research items reflect some of the recent business activity for selected clients of Empire Relations Group, Inc. Additional information for investment research can be found in the featured clients section. News and investment research are for informational purposes only.
Green Energy Resources Inc
Green Energy Resources Receives $25 Million Dollar 'LOI'
NEW YORK, NEW YORK--(MARKET WIRE)--Jul 5, 2006 -- Green Energy Resources (Other OTC:GRGR.PK - News) announced it has received a 'Letter of Intent' for the purchase of 500,000 tons of wood biomass from Helius Energy. The contract calls for a trial shipment in late 2006 or early 2007 subject to the conversion of an existing oil facility to biomass burning boilers. Large scale exports are planned for 2008. The value of the sale is approximately $25 million dollars annually and could extend up to ten years. Terms of the contract are subject to the approval of both company's Board Of Directors. The two companies plan a meeting within the next two months to discuss final details.
Green Energy Resources obtains its supplies from wastewood sources, such as landfills, municipalities, and hurricane storm damage. Wood biomass has multiple applications, including co-firing with coal, gasification, ethanol and biodiesel fuels, and direct burn. Biomass is the only renewable energy that can be stored with reserves and has application in upwards of 60% of total energy markets. Green Energy Resources was the first company to export wood fiber fuels for renewable energy from the United States, beginning in 2003. Further details about the sale are available through the company
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 and other risks.
Green Energy Resources
Joseph Murray
(631) 375-7921
joe.murray@greenenergyresources.com
http://www.greenenergyresources.com
Worldwide Financial Marketing, Inc. USA
Investor Relations
Int'l: 1 (954) 360-9998
Info@wwfinancial.com
http://www.wwfinancial.com
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About Green Energy Resources, Inc.
Green Energy Resources, Inc. is dedicated to becoming a leading
supplier of reliable, low cost, high quality wood fiber fuels (biomass).
Biomass, which is essentially organic matter that can be converted to
energy, is the fourth leading source of energy in the United States
(behind oil, natural gas and coal), and is currently providing about 2
percent of all energy used in this country. This is expected to grow to
over 10% by the end of this decade.
To link to this corporate profile in our members area click here (You must be a registered member to see profile).
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