SOURCE: Green Energy Resources, Inc.

June 16, 2008 07:00 ET

Wood To Fuel, LLC and Green Energy Resources, Inc. Announce Agreement to Provide Biomass Fuel to Niagara Generation, LLC

NIAGARA FALLS, NY--(Marketwire - June 16, 2008) - Wood To Fuel, LLC (WTF) and Green Energy Resources, Inc. (PINKSHEETS: GRGR) agreed today to work together to supply 200 tons a day of clean woodchips derived from industrial wood waste and other wood products to Niagara Generation, LLC under a 10 year contract between Wood To Fuel, LLC and Niagara Generation, LLC (US Renewables).

The partnering of the two companies creates one of the largest biomass / renewable energy suppliers in the Western New York region today. The companies' combined capacity is expected to deliver over 100,000 tons of woodfiber fuel annually. The product is delivered by woodchip truck carriers to existing power plants. All the biomass fuels comply with GER's strict UTCS certification system and the Kyoto protocol.

The agreement between WTF and GER is considered to be a perfect marriage of supply and demand. WTF is a demand side contractor with supply side products with biomass power plants and GER is the supply side of the chain. Working together in the Bio-energy field, this team will be a powerhouse.

WTF is a woodfiber fuel supplier in the US, while GER has been supplying wood biomass to European power plants. Through this agreement, WTF and GER will supply approximately 5,500 tons of woodchips per month to the Niagara Falls Power Plant. The ten (10) year, 15 million dollar contract will seek to capture the vertical market from procurement, to transport to the power generation plant.

The long term contracts with power producers could include Green Certificates, carbon credits and methane reduction credits. For WTF, LLC, millions of dollars in gross revenues will be generated on a 'guaranteed' basis through 2018. Future plans include more woodchip carriers and Biofuel-transfer stations/drop off sites in the WNY region and beyond. Approximately 30 indirect jobs for the region will be created.

Teresa Reile and Steven Johnson, principals of WTF, stated, "The contract is expected to be a major boost for the renewable energy industry in WNY. We are pleased and excited about the potential opportunites in this industry."

About Green Energy Resources

Green Energy Resources, Inc. uses only environmentally certified and sustainable sources such as waste wood from storm damage, highway and park maintenance. UTCS (urban tree certification system) is a NYS and internationally recognized urban forest management plan developed by GER, CEO, Joseph Murray. UTCS certification system is a socially responsible and environmentally friendly methodology to recycle government approved foresty and non-forest industry generated waste wood. UTCS includes chain of custody documentation (a tracking system from origin to end user) and 3rd party verifications of sourcing. UTCS Environmentally certified woodchips can add revenues for power generation producers by earning carbon credits and methane reduction credits that can be piggy-backed on top of energy credits. A first in the US renewables industry.

Green Energy Resources has offices in New York City, and Hendersen, Nevada, with nearly 5 million tons in inventory through its UTCS data base. GER was recently featured in the June 10th DOW JONES Clean Technology Investor. The company has no debt and operates on its own self generated revenues.

Wood To Fuel, LLC trades and supplies biomass -- managing selection, transportation and stock of raw material. The resident staff at each one of their BioFuel-transfer stations and drop off sites supervises the management of local operations.

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