SOURCE: Green Energy Resources

May 29, 2007 07:29 ET

Green Energy Resources Files for Membership on the Chicago Climate Exchange to Register and Trade UTCS Carbon Offset Credits

NEW YORK, NY--(Marketwire - May 29, 2007) - Green Energy Resources (PINKSHEETS: GRGR) announced it filed an application to join the Chicago Climate Exchange. Membership in the Exchange will allow Green Energy Resources to trade and sell UTCS carbon offset credits with a recognized registry. The Chicago Climate Exchange (CCX)was the world's first greenhouse gas emissions registry, reduction and trading exchange. Registration positions Green Energy Resources to sell its own UTCS carbon offset credits worldwide. GRGR plans to be listed as an offset provider and aggregator specializing in the emerging biomass energy sector.

Registry on the Chicago Climate Exchange is a vital step in expanding sales of UTCS (urban tree certification system) throughout the US and providing it with credibility. The registration is an electronic means to keep records of the issuance of carbon allowances or credits and any trades or subsequent transfers of the credits. Credits which are bought and sold can be verified, tracked and retired when the projects are completed. Green Energy Resources will be enabled to buy, sell and manage carbon portfolios for non-members as well.

Government, institutions, market traders, power companies and individuals can buy carbon offset credits directly from the company or through emission traders. GRGR plans to offer upwards of 1 million tons in carbon offset credits. Green Energy Resources wood biomasse is sourced from landfills, storm damage and other wood waste streams and diverted to a myriad of renewable energy projects. UTCS is designed to create a self-sustaining and revenue-generating mechanism to plant millions of trees a year to create carbon sequestration in cities and suburbs through reforestation. UTCS has strict and verifiable standards with measureable results where carbon reductions are permanent, quantifiable and scaleable. The plan calls for every credit to be certified and authenticated. UTCS creates a business model for local, state and city governments in the US to generate self-sustaining renewable energy from biomass without the need to cut forests.

Green Energy Resources CEO Joseph Murray said the company plans to attend and market its carbon offsets at the upcoming carbon finance conference in NY in June and in Brussels, Belgium in July.

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