SOURCE: Green Energy Resources

July 07, 2008 07:00 ET

Green Energy Resources to Offer Wood Biomass Carbon Credits to US and European Power Producers With the Purchase of Long-Term Supply Contracts

NEW YORK, NY--(Marketwire - July 7, 2008) - Green Energy Resources Inc. (PINKSHEETS: GRGR) offers US bankable carbon credits with the purchase of long-term supply contracts for certain types of sourced wood. The carbon credits are obtainable through Green Energy Resources exclusive UTCS (urban tree certification system) sourcing of wood biomass (www.utcs.com). The wood biomass qualifies under methane avoidance criteria established by the United Nations CDM (clean development mechanism). The carbon credits may be purchased by European, American or UK energy companies. The credits will be registered on American emission trading markets (VCS or others) and offered through an internationally well known emissions broker. The credits could add between $10-$30 in value for every ton of wood purchased through Green Energy Resources.

Green Energy Resources is actively seeking strategic partnerships with US biomass power producers, cellulostic ethanol and wood pellet manufacturers interested in the program. For energy producers and manufacturers, the credits could add significant dollar value to the overall bottom line, as the credits are added to RECs (renewable energy credit), not in place of them. For Green Energy Resources the carbon credits represent a very significant competitive edge within the industry and millions of dollars in potential profit unaffected by the steady increase in oil fuel prices. The major industry shift will be from power producers holding the credits to Green Energy Resources negotiating the credits with energy companies.

Green Energy Resources wood biomass meets all EU regulatory requirements, and is 100% Kyoto compliant for admission into the EU. The company utilizes the very stringent UTCS environmental certification system, complete with chain of custody documentation and 3rd party verifications. The company is offering the wood and credits on an FOB USA basis for European or Asian Buyers.

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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