Vega Leases Land for ‘The Green Valley Project’
LONDON, Aug. 21 /PRNewswire-FirstCall/ — VEGA PROMOTIONAL SYSTEMS, INC. (Pink Sheets: VGPR) today announced it has entered into a Lease Agreement to lease land for “The Green Valley Project.”
Located in western Indiana, “The Green Valley Project” is a multifaceted green energy power production facility that converts inexpensive methane gas from an abandoned coal mine into electricity and thermal energy.
Vega has now leased the property that is a part of “The Green Valley Project.” The property currently houses all of the facilities necessary to produce electricity and thermal energy using the methane gas from the Green Valley Mine.
Vega recently announced that it had entered into an Agreement with Chattanooga based, Tennessee Power Company to purchase the necessary methane gas to run the project. Tennessee Power Company owns the rights to the coal bed methane located in the 314 acre abandoned Green Valley coal mine. The methane gas will be pumped from the mine and delivered through gas lines directly to the production facility located on the land that is now leased by Vega.
This Lease Agreement was an integral part of the power generating project. “The Green Valley Project” is a very unique energy project with many moving parts. The methane has been tested and a demonstration project was in operation for approximately three years, proving the viability of utilizing coal bed methane from the Green Valley mine as a sole source fuel to generate electricity from natural gas reciprocating engine generator sets.
The Company will release additional details on “The Green Valley Project” as the project moves forward.
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “forecast,” “project,” “intend,” “expect” “should,” “would,” and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
SOURCE Vega Promotional Systems, Inc.