Green Energy Resources

Green Energy Resources

May 18, 2006 05:50 ET

Green Energy Resources 'GRGR' to Power Holland with 200,000 Tons of Biomass for Renewable Energy; Pays 5% dividend

NEW YORK, NEW YORK--(CCNMatthews - May 18, 2006) - Green Energy Resources (PINK SHEETS:GRGR) announced a $10 million dollar, 1 year deal to sell 200,000 tons of wood biomass for renewable energy power generation to the Netherlands. The sale is scheduled to commence September 2006 as a trial shipment. The contract represents 4 shipments of approximately $2.5 million each in gross sales. Green Energy Resources expects to complete at least 2 shipments prior the end of fiscal 2006. The contract is the second received in the last month by Green Energy Resources.

In other company news, Green Energy Resources Paid a 5% dividend to its shareholders on May 9th. The company posted a 1st quarter profit, and will post a 2nd qtr profit as well. 2006 is expected to be a breakout year for the company, as the renewable energy industry begins to move into full gear.

Buyers contract details are not publicly disclosed for confidentiality and competitive reasons. Interested shareholders may contact the company directly for additional information about the sale.

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 companies' 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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