SOURCE: Green Energy Resources

April 26, 2007 06:58 ET

Green Energy Resources Lands C & D Contract; Updates Shareholders

NEW YORK, NY -- (MARKET WIRE) -- April 26, 2007 -- Green Energy Resources (PINKSHEETS: GRGR) has landed a contract to supply "construction and demolition" wood to a German company. The contract is for 320,000 tons (about 8 shipments of 40,000 tons each). Construction and demolition wood (C&D) is usually kiln dry and therefore produces maximum energy output (high heat) sout by power producers. The wood originates from homes, buildings and construction remodeling. The supply of dry wood for power generation costs a premium of up to 50% more per sale because of the guaranteed higher heat capacity of the product. The cost of the product is cheaper than traditional woodchips because it is considered waste and has no current market.

The C&D contract is the first of its kind for the renewable energy industry. Construction and demolition wood has long been considered junk because of contamination from paints, glues and resins that can impact emissions. New technologies effectively screen out or cleanse contaminated wood. The contract expands the potential volume of wood resources for the power generating industry by nearly double.

Exports

The first export sale of woodchips to Europe was executed in the 1st qtr. Total sale of the 40,000-plus tons was approximately $2.4 million dollars. Other shipments are underway.

15c211

A 15c211 was filed with the NASD in early April. The filing is intended to raise Green Energy Resources' status from 'Unsolicited" to "Solicited." Approval by the NASD can take 8 weeks or more. The filing is a qualitative move enabling the company to attract new investors and increase its visibility and transparency to investors. GRGR has made all necessary Pink Sheet filings and is in full compliance to date. GRGR plans to post its quarterly financials. The first quarter is expected out soon.

UTCS

UTCS software has added carbon offset credits to its platform. Marketing and sales are underway with carbon offsets offered at $5.50 per ton to any business, institution or investor. Sales of UTCS have been slow to start, but 22 states have recently enacted Renewable Portfolio Standards (RPS) and sales are expected to be grow substantially in 2007 through 2009. Green Energy Resources expects to meet or exceed its projected target sales goals by year's end. Carbon offsets are the ability to buy a surplus of positive carbon credits to reduce (or offset) excessive bad carbon emissions.

Patents

The US Office of Trademarks and Patents has granted approval for Green Energy Resources' trademarks and logos. More grants are expected with regard to UTCS, its software and proprietary information soon. The applications for patents and trademarks were made in 2006.

Public Float

Green Energy Resources remains debt-free, and has not raised any public capital. The issued and outstanding shares remains the same at 55 million shares and the float at 15.6 million shares. No new shares were issued in the 1st qtr of 2007.

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