SOURCE: Vega Promotional Systems, Inc.

March 08, 2010 08:30 ET

Vega to Focus on Clean Energy Services in South America

LONDON--(Marketwire - March 8, 2010) - VEGA PROMOTIONAL SYSTEMS, INC. (PINKSHEETS: VGPR) announced today its immediate focus will be in providing various revenue generating clean energy services in South America.

Recent opportunities have influenced management's decision to expand rapidly in South America and the Company provides the following updates on its existing projects:

The Company's immediate focus will be in and around the country of Brazil. The opportunities for the Company's products and services are greatest in the South American country and it's the decision of management to move quickly to take advantage of these opportunities. The Company will have a major announcement in the next few days that will outline this new direction.

Testing on the methane gas from the Green Valley Mine as well as other issues associated with the multifaceted Green Valley Project in Western Indiana continues and the Company is optimistic that the project will restart energy production soon.

Plans to build a biomass production facility in Georgia are also moving forward. The proposed 40,000 square foot manufacturing facility will be located in Tifton, Georgia, and will manufacture energy efficient pellet fuel from organic waste bi-products located within Georgia's Bioenergy Corridor. The new facility will have the capacity to produce several hundred thousand metric tons of biomass fuel pellets annually. The Company recently announced it is seeking financial assistance from the State of Georgia to build its manufacturing plant. The project is moving forward and will be funded by the Company in the event it fails to receive a grant from the State.

Vega and its Joint Venture partner, Global Capital Market, LTD (GCM), located in Shenzhen City, China, recently announced plans to build multiple manufacturing plants throughout Asia. The Joint Venture company will utilize special torrefaction technology to produce pellets from organic waste products that will then be sold to power generating companies. The Company will have an announcement soon outlining the details of this project.

Michael K. Molen, Chairman of Vega Promotional Systems, stated, "We knew that we would face challenges as we expanded our business this year. We like where we are at and are pleased with the progress we are making. As we continue to work on the projects in Indiana, Georgia and China, opportunities in South America have caused us to re-evaluate our immediate focus. We will have an announcement in the next few days that will explain our plans in more detail. Management's goal has been to move as quickly as possible to generate revenues for the Company and this is why we are now moving rapidly in South America. Even though we are a small company operating in a very large industry, the opportunities are vast and the rewards are high. This is a very exciting time for the Company and we want to thank our shareholders for their continued patience as we move forward."

Forward-looking statements:

Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.

Contact Information

  • CONTACT:
    Vega Promotional Systems, Inc.
    800-481-0186