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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
High Oil and Record Currency Exchange Rates Are Great News for Alternative Energy Exports for Green Energy Resources (GRGR)
NEW YORK, NY--(MARKET WIRE)--Jul 26, 2007 -- Green Energy Resources (Other OTC:GRGR.PK - News) has received a new export order for delivery of wood biomass to Europe. The order, contracted in British pounds, is for 40,000 tons delivered or about $2.6 million dollars. The shipment is subject to ship scheduling and planned for later this year. Record European currency exchange rates are pushing buyer interest and demand for biomass orders to Europe. The shipment will be the first biomass export to the UK from North America.
High oil prices make alternative energy production very cost effective to power producers. Oil is nearing $80 per barrel and US consumption in 2007 is exceeding that of 2006. The US dollar is currently about .45 cents to the British pound and about .62 cents on the Euro. Green Energy Resources has targeted a 20% market share of European biomass imports by 2011. The European biomass market should exceed $1 billion dollars by 2010 according to various European agencies.
In other news, biomass continues to be the workhorse of the renewable energy industry leading solar and wind energy production by more than double, according to the US Department of Energy 2006 statistics. Wood for cellulostic ethanol continues to gain interest and momentum. Corn prices have skyrocketed due to the rush to make ethanol biofuels.
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
or
Worldwide Financial Marketing, Inc. USA
Investor Relations
Int'l: 1-954-360-9998
Nat'l: 1-866-360-9998
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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