Woodchips for Ethanol Passed in US Energy Bill
Posted on: Friday, 14 December 2007, 06:00 CST
Green Energy Resources (PINKSHEETS: GRGR) was a big winner in the US Energy Bill passed by Congress yesterday. The legislation requires 21 billion gallons of ethanol to be developed by woodchips and other non-corn biomass sources by 2022. Green Energy Resources is a global supplier of woodchips and has nearly 5 million tons in virtual inventory through its UTCS software system. Green Energy Resources continues to develop and expand its inventory database of the advanced software system that includes chain of custody documentation, and 3rd party verifications of sourcing to insure stringent environmental standards. Green Energy Resources has been a pioneer in recovering wood from non forestry sources including urban waste streams and storm damaged trees for renewable energy. The company is currently working with a major US city to recover woodchips from recycled Christmas trees for export overseas.
About Green Energy Resources
Green Energy Resources is a renewable alternative energy company. Its principal business is the supply of woodchips, wood fibers, wood pellets, briquettes and other alternative fuels for use in power generation plants to reduce green house gas emissions. The company is an environmentally friendly "green company." GRGR has no debt, operates on self-generated revenues and currently is exporting wood pellets for co-firing to Europe. The company has shown a profit in its first three years of operation and will show a profit for 2007.
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. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
CONTACT: Green Energy Resources Joseph Murray 631-375-7921 joe.murray@greenenergyresources.comwww.greenenergyresources.com or Worldwide Financial Marketing, Inc. USA Investor Relations Int'l: 1-954-360-9998 Nat'l: 1-866-360-9998 Info@wwfinancial.comSOURCE: Green Energy Resources
Source: MARKET WIRE
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