SOURCE: Green Energy Resources

September 11, 2006 06:45 ET

Green Energy Resources 2006 Update and 2007 Outlook: Woodchips for Fuel, not Corn, to Power Cars in Japan

NEW YORK, NY -- (MARKET WIRE) -- September 11, 2006 -- Green Energy Resources (PINKSHEETS: GRGR) is a woodfiber fuel supplier and distribution company for the renewable energy industry. Green Energy Resources has also developed a web-based universally adaptable software system called UTCS (Urban Tree Certification System). UTCS is currently in the marketing and distribution phase.

In 2006 the company's gross sales are projected to exceed $5 million from the sale and export of woodchips. For 2007 Green Energy Resources anticipates gross sales of woodchips to be in excess of $20 million. Revenues from the UTCS software will also be realized. The company has posted profits for the last 2 straight years.

Green Energy Resources has no debt, has not raised any public funds, and operates on self-generated revenues. Currently there are 54.6 million shares issued and outstanding, 39.1 million shares restricted and 15.5 million shares free trading. One third of the free trading shares are held by institutional investors. The company issued a 5% stock dividend to shareholders in May.

UTCS software creates a marketplace for buyers and sellers for waste wood and emission credit trading. Revenues are generated from fee-based subscriptions, a trade board, report generation, environmental certifications and the sales of data to industry and para-government agencies.

Green Energy Resources was the first American company to export woodchips for renewable energy dating back to 2003. The company's goal is to capture 25% of European woodchip import market by 2011. The total import market for woodfibers in Europe is estimated to reach in the billions of dollars. Green Energy Resources currently is the only North American company positioned and authorized to export non-regulated woods to Europe.

Japan's announcement to develop woodchips into fuel is a major industry breakthrough. Japan plans to spend $85 billion to power over 40,000 cars and provide fill-up stations in two major cities. The alternative fuels market in the US alone is expected to increase to over 30% according to the US Department of Energy. Woodchips for fuel has been touted by President Bush in several policy speeches on renewable energy. Cellulostic fiber (woodchips) is estimated to be cheaper than corn for biodiesel and ethanol. Green Energy Resources has 'rights' to millions of tons of waste wood throughout the United States and is positioning to be a role player in the US alternative fuels market.

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 company's 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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