SOURCE: Green Energy Resources

January 30, 2006 07:37 ET

Green Energy Resources 2006 Investor Update

NEW YORK, NY -- (MARKET WIRE) -- January 30, 2006 -- Green Energy Resources (OTC: GRGR) continues to make steady progress towards its planned IPO on the London UK Aim market. The current timetable keeps it on course for the 2nd qtr 2006. Libertas Capital, Green Energy's UK advisor, visited the planned port facility in Baltimore, Maryland, and the new offices in Manhattan, New York City, last week as a part of the required diligence.

Libertas Capital met with Green Energy Resources' "nominated" Board of Directors, incorrectly designated as "named" Board of Directors last December. The Board, including the UK chairman, does not take effect until the IPO actually occurs. Libertas and the "nominated" board of directors were introduced to the company's "nominated" CFO, who will be formally announced in an upcoming Press release.

A stock dividend to US shareholders is planned. It will be based on shareholders holding stock on March 31, 2006, the end of the first qtr. A record date has not yet been set and will not be finalized until an IPO date has been designated.

A 15c211 Information update has been submitted to "pinksheets" OTC market makers. The data should be visible to investors shortly. Financials are in preparation for audits of both 2004 and 2005 as required as a part of the IPO process to be a "Fully reporting" company on the London exchange. GRGR will be available to institutional investors upon completion of the audits. Company updates include a market cap of approximately $40 million dollars on 52 million issued shares, with 12 million shares in the float.

UTCS software has reached market distribution readiness. GER plans to meet with several US states and cities as early as February. UTCS software should begin producing revenues in 2006 and be a major revenue generator in 2007 and beyond. The market potential for the software includes the entire power utility industry and every government entity, large and small, worldwide. Demand for biofuels is expected to increase rapidly, especially as nine New England states, Maryland, and the three West Coast states in regional moves have adopted Kyoto emissions standards. The Regional emissions initiatives to cap greenhouse gases is generating an unlimited and unprecedented market opportunity for biomass, particularly for biodeisel and ethanol production, heavily favored in the 2005 US Energy Bill.

Pre-mixed co-firing fuels will be an integral and expanding part of the 2006 sales to European buyers. Cofiring, the mixing of biomass with coal in an environmentally friendly application to reduce green house gases, is gaining momentum in Europe with large utilities. Green Energy Resources is working with two companies in product trials in 2006 with the prospect of engaging in long-term contracts for 2007 and beyond. Green Energy has plans to build one or more pellet plants in at least 2 states. The recent market jump from $100 per ton to $300 per ton in pellets prices in the USA, according to a January 23rd article in the Boston Globe, keep this plan squarely on track for the company.

A port facility has been established for the export of biomass from Houston, Texas, and is expected to produce a shipload of approximately 50,000 tons, every 90 days.

The company is engaged in ongoing negotiations with multiple buyers for wood chips, wood pellets, wood fiber and bagasse for contracts for immediate and long-term supply. As the impacts of global climate change become more evident and prices continue to rise on oil, gas and coal, Green Energy Resources' role will become more prominent.

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.

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