SOURCE: Green Energy Resources

June 09, 2008 08:45 ET

Green Energy Resources (GRGR) Receives Its First US Contract of Supply for Clean, Dry, C&D Woodchips in New York State Valued at $1.5 Million

NEW YORK, NY--(Marketwire - June 9, 2008) - Green Energy Resources (PINKSHEETS: GRGR) has received its first US domestic contract for supply of clean C&D (construction and demolition) wood biomass. The power plant is located in Western New York State and requires over 1000 tons daily. Green Energy Resources will supply 3000-6000 tons monthly. The product will originate from the New York City area and is valued between $1.5 million and $3 million annually. The contract can be extended for up to 10 years.

In other Company news, Green Energy Resources has changed its transfer agent to Colonial Stock Transfer, of Salt Lake City, Utah. The move represents long-term planning in company operations that included re-incorporation in Nevada from New York State.

Green Energy Resources anticipates a breakthrough year in the domestic supply of wood pellets. The skyrocketing cost of home heating oil is expected to create a bonanza in the domestic retail market to offset home heating oil prices. Green Energy Resources offers 50 pound bags of pellets to retailers.

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.

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