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GEECF's Biosphere Development Corp. Announces New Green Energy Technology License Agreements

Posted on: Thursday, 11 October 2007, 09:00 CDT

Biosphere Development Corp., a subsidiary of Global Environmental Energy Corp. (GEECF), has licensed its green energy production technology to Global NRG Ltd.

The license agreements cover Australia, New Zealand, the Pacific islands and parts of Africa, including South Africa and Botswana. Global NRG has operating subsidiaries and close government connections in these areas, allowing the company to utilize Biosphere technology to generate green energy.

The process gasifies solid waste into green energy, which is used to heat steam that drives an electricity generating turbine. In simple language, municipal waste, a reoccurring feedstock, is used to produce green energy. The power generated from waste is fed into a power grid, deriving carbon credits and simultaneously ridding the environment of the ever increasing supply of household waste. The process can also use coal tailings, a waste material from coal mining, as a feedstock.

Global NRG is well advanced in its negotiations with Australian state governments as well as Australia's federal government. As the world's largest coal exporter, Australia has an abundant supply of coal waste to use in electricity generation. Global NRG expects to sign agreements in the near future with several entities.

In South Africa, negotiations are underway with the Cape Town Council, which oversees a green city and wishes to provide low cost power to low income families.

New Zealand, a traditionally green country, has embraced the Biosphere technology and is examining three installations. Global NRG has committed to produce 100,000 megawatts of electricity generation capacity per year using the process within two years, but expects to exceed this target by a significant margin.

About GEECF

Biosphere is a subsidiary of Global Environmental Energy Corp. (OTCBB:GEECF)(FWB:GLI), a Bahamian company publicly traded on stock markets in Germany and the United States. The company's technology uses solid municipal waste to produce green energy. Global maintains a Web site at www.geecf.ru. GEECF and Global NRG are non-affiliated companies; the similarity in names is coincidental.

This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections.

Source: Business Wire

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