SOURCE: Vega Promotional Systems, Inc.

January 05, 2010 10:48 ET

Vega's Green Valley Project to Restart Power Production

LONDON--(Marketwire - January 5, 2010) - VEGA PROMOTIONAL SYSTEMS, INC. (PINKSHEETS: VGPR) today announced the Company's Green Valley Project will restart the production of power.

The Company recently hosted a meeting at the Western Indiana production facility that included Officers and Engineers from the Company and various equipment and service vendors. Subsequent to the meeting, the Company has ordered a gas flow analysis that will be conducted on the existing wells to determine if it is necessary to drill additional wells. The Company's plan is to stage the installation of the new generator sets and plans to restart the power production facility by installing the first generator and utilizing the methane from the existing well as stage one.

Stage two will include drilling at least one additional well and running a new supply line from the Green Valley Mine to a planned second generator to be installed at the production facility. The Company's plan is to have the first generator in place within the next few weeks.

"It was great to have everyone at the facility," stated Vega Chairman, Michael K. Molen. "We are looking forward to installing the new generators and restarting the Green Valley Project. It is a very exciting and complex power project. We have a few photographs from the facility and will have them posted on our web site within the next few days. We'll also have an announcement about the generator installation in the coming days."

Located in western Indiana, The Green Valley Project is a multifaceted green energy power production facility that converts inexpensive methane gas from the abandoned Green Valley Mine into electricity and thermal energy.

The methane has been tested and a demonstration project was in operation for approximately three years, proving the viability of utilizing coal bed methane from the Mine as a sole source fuel to generate electricity from natural gas reciprocating engine generator sets.

The Company will release additional details on The Green Valley Project as the project moves forward.

Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.

DATASOURCE: Vega Promotional Systems, Inc.

Contact Information

  • CONTACT:
    Vega Promotional Systems, Inc.:
    800-481-0186