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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 2006 Update and 2007 Outlook: Woodchips for Fuel, not Corn, to Power Cars in Japan
NEW YORK, NY--(MARKET WIRE)--Sep 11, 2006 -- Green Energy Resources (Other OTC:GRGR.PK - News) is a woodfiber fuel supplier and distribution company for the renewable energy industry. Green Energy Resources has also developed a web-based universally adaptable software system called UTCS (Urban Tree Certification System). UTCS is currently in the marketing and distribution phase.
In 2006 the company's gross sales are projected to exceed $5 million from the sale and export of woodchips. For 2007 Green Energy Resources anticipates gross sales of woodchips to be in excess of $20 million. Revenues from the UTCS software will also be realized. The company has posted profits for the last 2 straight years.
Green Energy Resources has no debt, has not raised any public funds, and operates on self-generated revenues. Currently there are 54.6 million shares issued and outstanding, 39.1 million shares restricted and 15.5 million shares free trading. One third of the free trading shares are held by institutional investors. The company issued a 5% stock dividend to shareholders in May.
UTCS software creates a marketplace for buyers and sellers for waste wood and emission credit trading. Revenues are generated from fee-based subscriptions, a trade board, report generation, environmental certifications and the sales of data to industry and para-government agencies.
Green Energy Resources was the first American company to export woodchips for renewable energy dating back to 2003. The company's goal is to capture 25% of European woodchip import market by 2011. The total import market for woodfibers in Europe is estimated to reach in the billions of dollars. Green Energy Resources currently is the only North American company positioned and authorized to export non-regulated woods to Europe.
Japan's announcement to develop woodchips into fuel is a major industry breakthrough. Japan plans to spend $85 billion to power over 40,000 cars and provide fill-up stations in two major cities. The alternative fuels market in the US alone is expected to increase to over 30% according to the US Department of Energy. Woodchips for fuel has been touted by President Bush in several policy speeches on renewable energy. Cellulostic fiber (woodchips) is estimated to be cheaper than corn for biodiesel and ethanol. Green Energy Resources has 'rights' to millions of tons of waste wood throughout the United States and is positioning to be a role player in the US alternative fuels market.
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 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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