Green Energy Resources Building Asset Base While Remaining Debt Free
13 October 2008 - 10:55PM
Marketwired
Green Energy Resources (PINKSHEETS: GRGR) is working to acquire as
much as one million tons of hurricane wood in Southeast Texas.
Green Energy Resources is the first company to actively work with a
storm contractor under FEMA'S new PA-Pilot program implemented in
2008 . The PA-Pilot program
(www.fema.gov./government/policy/papilot.shtm) is intended to
recycle storm damaged wood. The program was implemented in part
through the efforts Green Energy Resources has made over the last
five years to pressure and create public awareness to recycle storm
damaged wood. It is a market change from the traditional dump and
burn policy of the past. The wood provides hard saleable and
bankable assets to the company's bottom line. The inventory is
being offered to buyers in the US, Internationally and in Texas
under the newly implemented biomass supplier incentive program,
offering upwards of 30 million dollars in grants. The wood is being
obtained at no cost and gives the company pricing flexibility on
future contracts.
Green Energy Resources will be featured in an upcoming article
in the Houston Chronicle newspaper detailing recovery efforts in
the region. It was recently featured in the July issue of Biocycle
magazine. Green Energy Resources like many other companies this
year, has been hit hard by shorters, and rough market conditions
contributing to lower stock values. The over 70% increase in fuel
prices suspended certain contracts as circuit breakers on shipping
automatically kicked in. The company is currently renegotiating
contracts as shipping conditions return to normal terms. The
company is not leveraged, has no debt, has not raised public
capital, and operates on its own self-generated revenues.
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.
CONTACT: Green Energy Resources Joseph Murray 631-375-7921 Email
Contact www.greenenergyresources.com or Worldwide Financial
Marketing, Inc. USA Investor Relations Int'l: 1-954-360-9998 Nat'l:
1-866-360-9998 Email Contact
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