SOURCE: Green Energy Resources

June 05, 2007 07:36 ET

Green Energy Resources (GRGR) Looks to US Biomass Markets as Export Market Flourishes

NEW YORK, NY--(Marketwire - June 5, 2007) - Green Energy Resources (PINKSHEETS: GRGR) begins push to supply US biomass markets as the export market continues to flourish. GRGR expanded its supply capacity through the recent southern US forest fires by nearly one million tons of pulp logs. The company plans to utilize provisions from the US Energy bill for transportation subsidies of forest fire timber to supply contracts of 1-3 years to various power generators throughout the United States. The initiative comes in the wake of President Bush's announcement that the US will participate in a global effort to control and reduce greenhouse gases announced last Friday. The President's plan sets a pathway for the US to join an emissions cap and trade scheme similar to Europe's.

In Export news, Green Energy Resources' next scheduled shipment of woodchips is set for late July or early August. The order is expected to be approximately 40,000 tons. Each shipment takes 6-8 weeks to prepare and is valued at approximately $2.5 million. The order represents ongoing contracts for the delivery of woodchips of the eight planned for 2007 into 2008.

1st qtr Financials were delayed being posted intentionally in an attempt to expedite approval from the NASD on GRGR's 15c211 application. The approval process takes 4-8 weeks or longer. The application was made in April. Typically, the NASD process can take longer for newly reporting companies. 1st qtr financials will be posted soon awaiting notification from the NASD. The Financials were not withheld for any negative reason regarding company results.

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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