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Green Energy Resources Receives $28 Million Order For 20,000 Tons of Export Wood Pellets

Posted on: Monday, 6 July 2009, 08:35 CDT

NEW YORK, July 6 /PRNewswire-FirstCall/ -- Green Energy Resources (Pink Sheets: GRGR) announced it has received two separate orders totaling 20,000 tons of wood pellets valued at $28 million dollars over 12 months. The order is expected to commence late in 2009 and extend throughout 2010. The wood pellets are used in co-firing with coal to reduce green house gas emissions.

GRGR announced in June it signed a ten (10) year US domestic biomass supply contract valued at over $300 million dollars. The contract contains provisions for monthly fuel adjustments and yearly inflation increases over its life time. Supply commences 2010. The power plant requirements exceed one million tons annually to upwards of 1.5 million tons.

Green Energy Resources is an environmentally friendly company sourcing its wood from urban wood waste streams, storm damage, cities and municipalities. The company is currently engaged in exports of woodchips to power plants in Europe.

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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