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Green Energy Resources Develops Breakthrough Heat Treating Methodology for Woodchips, Signs a $50 Million Export Supply Contract and Undertakes Emergency Supply Mission Using Icebreaker Ships to Rescue Northern Scandinavian Town From Running Out of Energ

Posted on: Tuesday, 17 February 2009, 05:00 CST

NEW YORK, Feb. 17 /PRNewswire-FirstCall/ -- Green Energy Resources (Pinksheets: GRGR) has signed a supply contract valued at approximately $50 million dollars over the next two years. The shipments are destined for Europe. Each Shipment is valued at approximately 2 million dollars. Green Energy Resources remains well positioned to capture a 20% European market share of imported wood biomass for energy by 2011. The company is currently shipping out of its Linden, New Jersey location and plans to activate its Baltimore, Maryland port within the next few months.

Green Energy Resources has US federal approval for its heat treating methodology on woodchips destined for Europe. The approval is a major breakthrough for European exports of woodchips. The new technology has left Green Energy Resources with few, if any competitors, in the North American energy woodchip export market. The methodology, in combination with low freight rates, low fuel prices and the conversion and completion of new biomass power generating stations in Europe, has led to a huge surge in demand.

Green Energy Resources is currently preparing an emergency order destined to northern Scandinavia before they run out of wood that powers the local power plant. The region is near the artic circle and remains firmly in winters grip. Green Energy Resources has the wood supply to ship immediately but needs the icebreakers to rescue the town in northern Sweden. Green Energy Resources is seeking an available class 1A ice breaker.

Green Energy Resources has been a leader in developing urban wood waste streams into renewable energy components. Fusing traditional forestry with urban wood waste streams has resulted in developing a highly desirable and energy packed woodchip for power generation on national grids. Green Energy Resources technology enables woodchips to compete with coal but with far less emissions and greenhouse gases than coal. Green Energy Resources can deliver woodchips with low moisture content and high BTU values to precise specification for power plant generators willing to pay top dollar for the commodity.

Green Energy Resources is in the market for financing assistance to meet its anticipated growth over the next two years including the possible purchase of a least 1 woodchip carrier ship. Shareholders are welcome to visit our operations in New Jersey with a scheduled appointment.

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.

SOURCE Green Energy Resources

Source: PR Newswire

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