Green Energy Resources

Green Energy Resources

June 08, 2006 07:30 ET

Green Energy Resources 'GRGR' Focuses On US Biofuels Market With 100 Million Gallon Biodiesel Plant In Texas; Green Energy Resources Looks To Partner With Energy Industry

NEW YORK, NEW YORK--(CCNMatthews - June 8, 2006) - Green Energy Resources (PINK SHEETS:GRGR) announced it is taking aim at the US biodiesel and ethanol industries. Cheveron and other major energy industry investors announced on May 17th plans to open a biodiesel plant in the Houston area later this year. The biodiesel plant will have capacity to produce up to 100 million gallons annually and will be the largest such facility in the United States. The plant signals a seashift change in the United States policy from small-scale energy operations for biodiesel, and ethanol to mainstream industry operations. The announcement, driven by high oil prices at the gas pumps and President Bush's determination to use woodchips as a fuel source, led to the biodiesel investment by the US energy industry.

The biodiesel plant launches a commodity market for "green" wood fiber fuels in the United States estimated in billions of dollars. Feedstock plans include wood biomass and soybeans for the Houston area facility. Green Energy Resources through its exclusive UTCS software system could supply the industry in excess of 20 million tons of woodchips annually nationwide. Green Energy Resources is currently developing a site facility on the Houston Channel for exports of wood biomass for the renewable power generation industry in Europe this fall.

About Green Energy

Green Energy Resources is a wood biomass supplier and exporter to the power utility industry worldwide. It is the only US supplier to utilize the stringent UTCS Environmental certification system. Green Energy Resources sources its supplies from wastewood sources, such as landfills and hurricane storm damage. Wood biomass has multiple applications, including co-firing with coal, gasigfication, ethanol for fuel, biodiesel, and direct burn. Biomass is the only renewable energy that can be stored with reserves. The company has recently received trial order shipments to begin in September destined for Europe and was the first company to export wood fiber fuels for renewable energy from the United States, beginning in 2003.

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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