SOURCE: GreenGold Ray Energies, Inc.

GreenGold Ray Energies, Inc.

November 10, 2010 08:00 ET

GreenGold Ray Energies Forecast $356 Million in Bio-Diesel Revenue

CORPUS CHRISTI, TX--(Marketwire - November 10, 2010) - GreenGold Ray Energies (PINKSHEETS: GRYE) announced today its revenue forecast for the next 5 years' cumulative sales of bio-diesel based on Jatropha.

According to management, based on current Jatropha bio-diesel prices and forecasted prices over the next five years, the company's revenue should reach $178 million by year five, whereby a total cumulative sales of $356 million are expected, making the company one of the leaders in bio-diesel production. 

"Our forecasts are very conservative and if we continue to increase our harvest and plantation acreages, we could easily surpass those figures," said Manolo Tecson, CEO of GreenGold Ray Energies Inc. "The price for bio-diesel fuel will only increase due to the demand by world markets and again this will contribute the creation of a sustainable business for our shareholder for many years to come," further added Mr. Tecson.

About GreenGold Ray Energies

GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) is a rapidly growing biodiesel, green technology, environmentally-friendly and alternative-renewable energy company. The Company has already solidified its position through a highly successful land acquisition program, acquiring large parcels of land through working alliances and joint venture partnership with landowners and growers, ideal for the cultivation of the jatropha curcas plant. Jatropha curcas grows almost anywhere, even on gravelly, sandy and saline soils. Jatropha oil can be processed to produce a high-quality biodiesel that can be used in a standard diesel car, while the residue can also be processed into biomass to power electricity plants.

Forward-Looking Statements
 
Forward-looking statements in this release include statements regarding the Company's projections regarding biodiesel, biofuels other alternative energy explorations and extractions in future periods. Penny Stocks are highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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