Green Energy Resources

Green Energy Resources

June 13, 2006 07:01 ET

Green Energy Resources Targets 10% of China Coal Market by 2012; GRGR Offers China 'Green' Pollution Solution with Clean Coal Technology

NEW YORK, NEW YORK--(CCNMatthews - June 13, 2006) - Green Energy Resources (PINK SHEETS:GRGR) CEO, Joseph Murray announced today he has accepted an invitation to meet with China's government leaders this summer. The itinerary includes, the shipbuilding industry and GRGR's shareholder base and office inside the country. Green Energy Resources has been working with government officials, coal industry executives, and company shareholders to secure a long term supply contract for China's rapidly expanding coal burning market for over a year. China 's coal market is larger than the United States and Europe combined. China's total potential market value for biomass is well in excess of $ 5 billion dollars and growing. China opens a new coal burning plant every 10 days. Green Energy Resources has on going discussions to supply biomass to the country over the next 15 years and includes the purchase of several woodchip carrier vessels financed through the sale. Each ship constructed in China is approximately $28 million dollars and each shipment of biomass valued at approximately $5 million dollars.

Cofiring is a clean coal solution. It's a cheap low cost effective method to reduce carbon emissions. Co-firing is the mixing of biomass with coal in an environment al friendly formula to reduce greenhouse gases. Cofiring has widespread application with European utilities and is the preferred methodology. Cofiring has begun to take hold in the United States as well, especially in the northeast United States. The China market has been seeking ways to comply with the Kyoto protocol to reduce greenhouse gasses without expensive capital investment. Cofiring is a well-known and established technology with proven results.

About Green Energy

Green Energy Resources is a wood biomass supplier and exporter to the power utility industry worldwide. It is the only US supplier to utilize the stringent UTCS Environmental certification system. Green Energy Resources sources its supplies from wastewood sources, such as landfills and hurricane storm damage. Wood biomass has multiple applications, including co-firing with coal, gasification, ethanol for fuel, biodiesel, and direct burn. Biomass is the only renewable energy that can be stored with reserves. The company has recently received trial order shipments to begin in September destined for Europe and was the first company to export woodfiber fuels for renewable energy from the United States, beginning in 2003.

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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