SOURCE: Viridis Energy Inc.

Viridis Energy Inc.

April 18, 2011 11:40 ET

Viridis Energy Secures a Multi-Year Off-Take Agreement Totaling $15.5 million Over Four Years

VANCOUVER, BC--(Marketwire - Apr 18, 2011) - Viridis Energy Inc. ("Viridis" or the "Company") (TSX-V: VRD) (OTCQX: VRDSF), a "Cleantech" manufacturer and distributor of alternative energy providing biomass fuel to global residential and industrial markets, announced today that it has entered into an off-take agreement with a major British Columbia-based wood pellet producer through which Viridis' Kelowna, BC facility (Okanagan Pellet Company) will supply a minimum 166,000 tonnes of wood pellets through 2014 for export to Europe. The agreement is valued at approximately $15.5 million. Viridis has commenced shipping.

Terms of the agreement calls for a minimum of 22,000 tonnes of wood pellets in 2011 and 48,000 tonnes each in 2012-2014. The wood pellets are shipped in bulk to the port, and then the pellets are exported to Europe. Wood pellet exports from North America to Europe have doubled over the last two years totaling 1.6 million tons in 2010; Canada shipped 1.0 million tons of the total, reports the North American Wood Fiber Review. The European Union has stated that by 2020, at least 20 percent of total energy consumption should be supplied by renewable energy resources.

Commenting on the agreement, Chris Robertson, Viridis' chief executive officer, said, "The pace at which society is moving towards economical, renewable energy sources is gaining momentum, and as the most reliable of renewable biomass, the demand for wood pellets is growing. This off-take agreement will generate approximately $2 million of additional revenue for Viridis in the current year and $4.5 million per year from 2012 through 2014." Mr. Robertson added, "Viridis' focus on quality and dependable, sustainable access to raw material, such as beetle-kill pine wood, is firmly establishing the company's brand as a key source of premium renewable energy products."

About Viridis Energy Inc.
Viridis Energy Inc. (TSX-V: VRD) is a publicly traded, "Cleantech" alternative energy company specializing in the agricultural and wood waste biomass. Located in Vancouver, B.C., Viridis Energy operates Cypress Pacific Marketing and Okanagan Pellet Company, two acquisitions in the wood pellet sector, thus providing the company with vertical integration for distribution and manufacturing.

For more information on Viridis Energy Inc. please refer to the company website at

Forward-looking Statements
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's future operations. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a continued downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties associated with the demand for biofuels, (3) the risk that the Company does not execute its business plan, (4) inability to finance operations and growth (5) inability to retain key management and employees, (6) ; an increase in the number of competitors with larger resources, and (7) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company intends to update such forward looking information in the Company's MD&A in the event that actual results differ materially from such forward-looking statements contained herein. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian security regulators.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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