SOURCE: Green Energy Resources

April 19, 2007 10:49 ET

Green Energy Resources Sponsors North American Bioenergy Conference; Oil Industry Prefers Woodchips Over Corn as Supply for Ethanol

CHICAGO, IL -- (MARKET WIRE) -- April 19, 2007 -- Green Energy Resources (PINKSHEETS: GRGR) sponsored and chaired the North American Bioenergy Conference 2007 on Monday, April 16th. Speakers included USDA Undersecretary Thomas Dorr, Thomas Sexton, President of US Shell Oil products, Lester Brown, President of Earth Policy Institute Ecosecurities, Evolution Markets, and many others from countries around the world. The conference discussed and detailed progress and issues in a wide-ranging area of biomass and biofuels for energy in the United States. Highlights included Thomas Sextons' remarks noting the oil industry had very high interest in cellulostic ethanol derived from wood. He further explained the research was more in line with oil company technologies and did not compete with corn for food or grain. Shell Oil is currently involved with cellulostic ethanol production from wood in Germany. President Bush has been advocating ethanol from woodchips for the biofuel. Lester Brown concurred with the need to not utilize food grains for energy. Current demand exceeds 30 billion barrels of ethanol by 2015 in the United States alone.

GRGR's sale of carbon offsets through its UTCS platform were also discussed at the conference. Green Energy Resources confirmed validity, targets, dates, quality and verifications with various emissions traders. The offsets are in line with goals and international objectives as the market expands in the US to currently include 22 states with a Renewable Portfolio Standard (RPS). GRGR carbon offsets are for sale at $5.50 per ton and are available to institutional, commercial, international and individual investors. Green Energy Resources has over 1 million offsets available on an ongoing basis.

Green Energy Resources met with trade representatives of a major market exchange to establish woodchips as an energy commodity. Green Energy Resources' CEO Joseph Murray detailed the interrelationships of woodchips to the energy industry, and the potential application in over 60% of all energy markets. Woodchips for energy are a separate, distinct and unrelated commodity to forest industry pulp grade woodchips used for paper production. Green Energy Resources has been the international leader of the initiative for over two years. The commodity exchange has agreed to consider woodchips especially as a hedge against corn, and soy for ethanol production.

Contact Information