SOURCE: Green Energy Resources

March 10, 2008 06:39 ET

Green Energy Resources (GRGR) Re-Introduces Itself to Renewable Energy Investors and Pledges a Return to $50 Million Market CAP

NEW YORK, NY--(Marketwire - March 10, 2008) - Green Energy Resources (PINKSHEETS: GRGR) reintroduces itself to investors of Energy, Green Energy, and alternative bio fuels in the USA and Europe.

The Biomass Energy Market

It is a well established fact petroleum, gas, coal, and power companies have to add and supply renewable energy portfolios for their clients worldwide. Europe has committed itself to reducing carbon dioxide emissions. The United States has moved on a regional basis to achieve reduced emissions, but to date, has not implemented a national policy. However all 3 American presidential candidates are highly supportive of alternative energy and are expected to endorse a national plan in 2009. To reach emissions targets, it will be necessary to find alternatives to fossil fuels and to bring them into use as sources of heat and power at the earliest possible opportunity. Europe has recognised the importance of biomass as a renewable energy source and is agressively persuing all renewables options. The United States has primarly focused on biofuels including developing wood ethanol. Corn was supported in large part by the big agro lobbyists and led to a near doubling of grain prices and is now largely being dis regarded. The European Renewables Obligation (RO) requires from 2006 through 2015, 25% of co-fired biomass (the use of fuel from biomass as a supplementary fuel in conventional energy plants) must come from energy crops including wood. 20% of all energy must be derived from renewables. There is a nearly unanimous universal commitment to reduce greenhouse gas emissions as global electricity consumption is predicted to increase by 85 percent by 2030.

Green Energy Resources is an environmentally friendly company dedicated to increasing the use of wood biomass in power, steam, and ethanol production as a way to reduce the adverse impact of coal and fossil fuels. The company sources wood through tree farms, urban wood waste streams and storm damage. Green Energy Resources has developed its own multifaceted software and environmental certification system internationally and domestically recognised by such states as New York. The certification system is called as the Urban Tree Certification System, (UTCS) to track, maintain chain of custody documentation and provide 3rd party verification.

Green Energy Resources develops sustainable projects and is currently seeking partnerships to work on ethanol, pellet plants and other biomass related fuels and energy. Green Energy Resources can supply biomass of quality and in unlimited volumes. Green Energy Resources offers forest and urban management consulting, competitive intelligence, comprehensive research reports, market analysis, and strategic planning for power plant producers in the global biomass industry. Our services cover all phases of the value chain, including reports for financing ,project development and implementation to power, as well as carbon credits and carbon offsets.

Green Energy Resources sells pellets and wood chips on the international market. The Company has targeted 20% of the European wood biomass import market by 2011. The European market is valued in billions of dollars. Green Energy Resources was the first American company to export woodchips to Europe (Italy) for energy beginning in 2003. The company remains on the cutting edge of the wood biomass and Renewable Energy Industry and has been the leading advocate to establish woodchips a commodity on the Chicago Board of Trade. Green Energy Resources correctly predicted in 2003 oil prices would reach $100 per barrel and European currencies would rise against the dollar. Green Energy Resources listed on the NASDAQ Pink Sheets in May of 2004 and has shown 4 straight years of profits. The company has no debt, has raised no public money and operates on its own self generated revenues. In 2006 on small sales of $600,000 as a result of a European regulatory change on the import of wood chips, Green Energy Resources bounced back in 2007 with over $7 million in gross sales. The company has issued a 5% stock dividend in 2006 and a 10% stock dividend in 2007. CEO Joseph Murray returned his dividends to treasury in both years. The company has 60 million shares issued and outstanding, 36 million restricted and held by CEO Joseph Murray and 24 million shares are in the float. Share values have reached as high as $1.32.

Green Energy Resources recently announced two supply contracts to China expected to get underway this spring and a new contract of supply to a European buyer. The China contracts are valued in excess of $30 million per year revieable annually over the next 5 years.

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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