SOURCE: GreenGold Ray Energies, Inc.

April 30, 2008 03:15 ET

Green Ray Energies Soon to Produce "Green Gold"

CAGAYAN DE ORO, PHILIPPINES--(Marketwire - April 30, 2008) - GreenGold Ray Energies, Inc. (PINKSHEETS: WRII) today announced that the Company has successfully completed the filings and had received a new CUSIP number (# 395257 108) & ISIN number (# 395257 1087) as part of the transition to GreenGold Ray Energies, Inc. from Waste Recovery Inc. (PINKSHEETS: WRII). Due to various factors, including a backlog at NASDAQ, the name change has yet to become official.

According to a Company spokesperson, "We are very pleased to have been able to achieve this first step in the transition process so quickly and seamlessly. It is our express goal to make every reasonable effort to effectuate the transition as rapidly as possible in order to focus on the much more important goal of developing our core business, producing renewable biodiesel for the surging energy market. We have had spectacular early success in our first two jatropha plantation projects, and expect to announce further positive updates in the very near future."


GreenGold Ray Energies, Inc. (GGRE) is a rapidly growing biodiesel, green technology and environmental energy company with numerous offers to pursue international joint ventures with major companies. The Company has already solidified its position through a highly successful land acquisition program, acquiring large parcels of land ideal for the cultivation of the jatropha plant. Jatropha curcas grows almost anywhere, even on gravelly, sandy and saline soils. Jatropha oil can be processed to produce a high-quality biodiesel that can be used in a standard diesel car, while the residue can also be processed into biomass to power electricity plants (for more information about the jatropha plant, click HERE).

GreenGold Ray Energies, Inc. is a fast growing green energy company searching the Philippine Archipelago for opportunities to explore and to produce, market, and utilize alternative energy products such as biofuels and biogas energies. GreenGold Ray Energies, Inc. intends to become one of the leading producers in the bio green technology and other alternative energy industry, helping the country achieve energy self-sufficiency and sustainability through the exploration and production of natural indigenous energy resources. GreenGold Ray Energies, Inc. is committed to the implementation of sustainable green technologies to achieve fiscal strength based on the principle of Profit-People-Planet. Management continues to focus on achieving profit, while conducting business with utmost consideration and compassion for people and protection of our planet and the environment.

Forward-Looking Statements

Forward-looking statements in this release include statements regarding the Company's projections regarding biodiesel, biofuels other alternative energy explorations and extractions in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, oil production costs; biofuels and other alternative energy development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks such as weather conditions uncertainties, legal proceedings regarding intellectual property rights and other matters that may affect GREENGOLD RAY's operations; effects of network failures, systems breaches, natural catastrophes and other service interruptions; and GREENGOLD RAY's ability to service its indebtedness and to raise capital in the future. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

    Investor Relations
    Har Deep
    Phone # USA 1-718-785-9609 ext. 1
    e-mail: Email Contact