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Global Environmental Energy Corp. Opens Representative Office in Hong Kong

Posted on: Wednesday, 10 August 2005, 06:00 CDT

NASSAU, Bahamas, Aug. 10 /PRNewswire-FirstCall/ -- Global Environmental Energy Corp. (BULLETIN BOARD: GEECF) (FWB: LFT) confirmed today that it was opening a representative office in Hong Kong.

The office at Suite 2201-05, 22/F Shell Tower, Times Square, Causeway Bay, Hong Kong (telephone: +852-3010-3838) will facilitate Global's Chinese employees and clients as Global and its subsidiaries Sahara Petroleum Exploration Corp. and Biosphere Development Corp. develop their business interests in China.

Global Environmental Energy Corp. is a corporation registered in the Commonwealth of the Bahamas and publicly traded on stock markets both in Germany and the United States. Global Environmental Energy Corp. is becoming a fully integrated energy company whose interests include traditional oil and gas and alternative energy sources, environmental infrastructure and electrical micro-power generation.

On December 10, 2004, Global Environmental Energy Inc formed subsidiaries Sahara Petroleum Exploration Corp (Sahara) and Biosphere Development Corp (Biosphere) in New Providence in the Commonwealth of the Bahamas.

In January 2005, Biosphere Development Corp. announced an Agreement of Intent with Shenzhen Branch of Yankuang Group Co., Ltd., and the Shenzhen Rayes Group Co. Ltd. to form new joint venture companies in China in a four- stage process that will deploy over 1,300 Biosphere(TM) Process Systems in China by 2010.

Biosphere recently announced a new joint venture with Environmental Concrete Company Ltd. Environmental Concrete Company Ltd (ECC) has large road and construction projects in China. China's cement requirements from 2001 to 2005 were estimated at 200 million tones per annum. Domestic production meets approximately 50% of this demand.(1) The Chinese road market receives government investment of approximately $42 billion per annum. Environmental Concrete Company Ltd estimates that the Chinese construction market is some 6 times this value. Over 30% of the world's concrete is supplied to the Chinese domestic market with volumes expected to reach 1 billion tones annually by 2007. This represents a market value in excess of USD$70 billion at current cement prices. At current market values, this increases Biosphere's gross product sales by USD$350,000 for each unit sold. Given the huge demand in China for both building materials, this represents enormous potential for Biosphere.

This cement replacement market open to ECC and Biosphere is expected to expand yet further in 2006 when the Chinese authorities in line with the Kyoto protocol to reduce green house gas emissions will prohibit the traditional brick making techniques whereby clay bricks were baked in an energy-intensive process.

Biosphere Development Corp's unique proprietary technology, EcoTechnology(TM), supplies energy through an efficient and environmentally safe process. The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, can safely and efficiently process traditional and non-traditional waste materials into electricity and other beneficial by- products. The Biosphere Process(TM) can assist in solving the global waste problem by converting into clean, green electricity such waste materials as: municipal solid waste (MSW), agricultural surpluses, agricultural effluents, forestry wastes, sewage sludge, medical waste, industrial wastes, flared natural gas, shale oil, sour natural gas, high sulfur oils, waste bilge oil, waste drilling muds and fluids, and many other traditional and non-traditional waste materials.

Sahara has entered into an Alliance Agreement with Chasewood Consortium, Ltd., to bid for oil and gas exploration rights under the 2005 Nigerian Licensing Round. Sahara will also retain the services of the Vetra Group A.V.V. (VETRA) to project manage SAHARA's 70,000 barrel per day oil refinery in Nigeria.

Sahara's growth is facilitated by its contract consultants, the Vetra Group A.V.V. In March 2005, Sahara appointed Mr. Humberto Calderon Berti, Mr. Karl Mazeika, Mr. Alfredo Gruber and Mr. Iker Anzola, from Vetra to its advisory board. Mr. Calderon Berti is former President of OPEC, President of Petroleos de Venezuela, S.A., Minister of Energy and Mines and Minister of Foreign Relations. Mr. Karl Mazeika is former Vice President of Pequiven and member of the Board of Directors of several of its joint ventures. He has also acted as Executive Director of Exploration, Production and Upgrading, and Vice President of Petroleos de Venezuela, S.A.

With China now the world's largest buyer of crude oil, Sahara and its consultants Vetra are assessing the Chinese market for opportunities.

Note to Investors

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. The forward-looking information is based upon current information and expectations regarding Global Environmental Energy Corp. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecast in such forward-looking statements.

Global Environmental Energy Corp. assumes no obligation to update the information contained in this press release. Global Environmental Energy Corp.'s future results may be impacted by risks associated with rapid technological change, new technological developments and implementations, execution issues associated with new technology, manufacturing production to meet demand, litigation, media publicity and the negative impact this could have on sales, competition, financial and budgetary constraints of prospects and customers, international order delays, dependence upon limited source suppliers, fluctuations in component pricing, government regulations, dependence upon key employees, and its ability to retain employees. GEEC's future results may also be impacted by other risk factors listed from time to time in its SEC filings, including, but not limited to, the Company's Form 10- QSBs and its Annual Report on Form 10-KSB.

(1) http://www.researchandmarkets.com/reports/29404/

Global Environmental Energy Corp.

CONTACT: Dr. C. A. McCormack, Global Environmental Energy Corp.,+1-242-323-0086, or global@coralwave.com

Web site: http://www.globalenvironmentalenergy.com/

Source: PRNewswire-FirstCall

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