True Green Energy Group’s Funding Exceeds 2.5 Billion Euros for Green Energy and Eco Friendly Housing
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<font size=”2″ face=”Arial”>WASHINGTON</font>, Nov. 22, 2011 /PRNewswire/ — Renato lee III the C.E.O of True Green Energy Group http://www.tgeg.asia, ISIN number CA8724191066, Cusip number 872419106 trading on Deutsche Borse AG under the stock symbol TGG.F, announced today, “TGEG will make a big contribution to helping the Republic of the Philippines because of the titanic investment made into our public company by Mr. Paul Lu, President of Universal Resources Development Incorporated, who also represents the interests of several prospective construction companies and multi-billion dollar firms in China, including but not limited to CITIC Group, China State Engineering construction Corporation, and China Railroad Engineering Construction Corporation.”
After 1 week of negotiations with CJ consortium and TGEG, Universal Recourses development purchased 25.5% of TRUE GREEN ENERGY GROUP stock for one billion two hundred fifty million euro (EURO 1,250,000,000.00). Additionally CJ Consortium invested an additional two hundred Fifty Million euro of the stock as part of the agreement that now brings the total capital investment combined with our pioneer shareholders to more than 2.5 Billion Euros. As part of the agreement it was mutually agreed upon that to keep a board quorum and to protect the pioneer shareholders, TGEG would maintain 3 seats for voting of the 5-man board.
TGEG and CJ Consortium www.tgegcjconstruction.com have already met with the under secretary Rico Puno department of interior and local government and the office of the C.E.O and president attorney Darlene Marie B. Berberabe of Philippine home development mutual fund (PAGBIG) housing in order to initiate the housing project that is already in motion for 2012.
The partnership and the Memorandum of agreement also consisted of carrying out TGEG vision of providing clean green energy to the country while getting rid of the garbage and building satellite cities for people living in the Philippines. The estimated additional investment by Paul Lu’s group would be approximately $5 billion USD in order to fund the first 500,000 homes.
Ronald Flynn founder and chairman, explained, “TGEG will build 500,000 homes in the Philippines in addition to working with the government to accumulate all landfill and garbage dump sites in order to create clean green energy power plants that will reduce pollution while reusing the waste to create clean green energy.”
To even the most astute observer whose sympathies for the impoverished people seem hopeless, True Green Energy Group www.tgeg.asia and its commitment to do the right thing for the country have set a plan to help the Philippines and its people.
The Republic of the Philippines is located in Southeast Asia and Manila is its capital city. The country comprises 7,107 islands and ranks as the 12th most populous country in the world. However according to the Philippine National Statistics Office only about 10% of sewage in the Philippines is treated or disposed of in an environmentally sound manner. The rest goes back to nature – usually the sea.
In this context of poor waste treatment and high population growth, water pollution is a growing problem for the country’s groundwater, rivers, lakes, and coastal areas. Polluting industrial material is also found in abandoned mining areas, with mercury pollution affecting water bodies in these areas.
Not only is pollution a problem in the Philippines but also Street Children in the Philippines is a significant problem. According to the latest report, there are about 2.5 million street children in the Philippines. According to the 2011 report more than 33% of the people in the Philippines are homeless.
By the government’s own admission, it will require some ten billion dollars of direct investment to create the number of jobs necessary to get this economy growing out of poverty.
TGEG and it’s partners commitment to help the impoverished Filipino masses include building and funding of free schools up to the tertiary level to address the growing illiteracy problems and also to provide free clinics and hospitals to improve health care within this satellite cities.
Talks are also being undertaken to provide fast and efficient means of transportation to and from these state of the art cities. All these projects are geared and aimed to solve the ever-growing problem of over population in the major cities of the country and provide an opportunity for the rural poor an equal opportunity for a better, brighter and greener future.
TGEG construction system is based on modular elements made of shaped polystyrene panels that are contained between two sheets of galvanized welded meshes. The vertical mesh wires are set along the polystyrene ‘waves’ thus creating reinforced concrete micro pillars once the panel is coated with concrete (this technique has been used successfully to reinforce historic or artistic buildings),” CJM officials said in a statement.
Ronald Flynn went on to say, “The enormous increase in the quantum and diversity of waste materials generated by human activity and their potentially harmful effects on the general environment and public health, have led to an increasing awareness and an urgent need to adopt scientific methods for safe disposal of wastes.”
While there is an obvious need to minimize the generation of wastes and to reuse and recycle them, the technologies for recovery via MRF systems and gasification systems are far superior then those systems built previously.
TRUE GREEN ENERGY’S strategy is to “de-carbonize” the electric power generation industry by shifting to non-fossil fuel-based energy sources, specifically energy-from-waste. This follows the Energy Policy Act of 2005 and the Renewable Energy Law (RA 9513) of the Philippines that confirms energy-from-waste is renewable.
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 True Green Energy Group