SOURCE: Green Energy Resources

November 16, 2009 09:30 ET

Green Energy Resources Receives 1 Year $17 Million Woodchip Supply Contract for Turkey

NEW YORK, NY--(Marketwire - November 16, 2009) - Green Energy Resources (PINKSHEETS: GRGR) announced it has received a 1 year $17 million supply contract to deliver woodchips to Turkey. Shipments are scheduled to commence in the 1st qtr of 2010. The contract has an option for a 2nd year. Shipments are planned to be made from a US east coast port.

China - Green Energy Resources recently announced a contract for 20 million dollars to deliver woodchips to China. Deliveries set to commence in November / December of this year have been reset for the 1st qtr 2010 awaiting available woodchip carriers to transport the cargo.

Pellets - Green Energy Resources seeks to develop a US manufacturing facility to produce wood pellets for the US power generation industry .A $500 million investment is needed to launch the new plant. A target date of late 2010 or early 2011 is the goal.

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, ship availability, fuel costs and other risks.

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