SOURCE: Green Energy Resources

June 30, 2008 07:30 ET

Green Energy Resources (GRGR) Announces a 5 Year Ohio Contract for 50,000 Tons of Clean, Dry, Recyclable Wood, Valued at $11.25 Million

NEW YORK, NY--(Marketwire - June 30, 2008) - Green Energy Resources Inc (PINKSHEETS: GRGR) announced a 5 year supply contract for 50,000 tons or more annually of clean, dry, C&D wood. The contract includes urban wood waste, old trees, and crushed pallets. The contract is similar to one announced recently in the Buffalo, New York region. Green Energy Resources plans to source from the Cleveland, Akron, Canton, Youngstown, Ohio areas and offer bankable carbon credit certificates as inducements to subcontractors; an industry first!

The 5 year contract should create an anticipated 10-12 jobs within the next twelve months. The contract is a 5 year contract with an option for an additional 5 years for a total 10 year term. The contract is scheduled to start in August or September this year. Green Energy Resources CEO, Joseph Murray, will be in Ohio meeting with subcontracts over the next one to two months.

About Green Energy Resources

Green Energy Resources Inc uses only environmentally certified and sustainable sources such as waste wood from storm damage, highway and park maintenance. UTCS (urban tree certification system) is a NYS and internationally recognized urban forest management plan developed by GER, CEO, Joseph Murray. UTCS certification system is a socially responsible and environmentally friendly methodology to recycle government approved foresty and non-forest industry generated waste wood. UTCS includes chain of custody documentation (a tracking system from origin to end user) and 3rd party verifications of sourcing. UTCS Environmentally certified wood chips can add revenues for power generation producers by earning carbon credits and methane reduction credits that can be piggy-backed on top of energy credits.

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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