SOURCE: Green Energy Resources

May 08, 2008 09:57 ET

Woodchips for Energy; Green Energy Resources Targets 15% Market Share of Growing Northeast US Biomass Markets and Looks to Develop a Green BioEnergy Port in New York City Area

NEW YORK, NY--(Marketwire - May 8, 2008) - Green Energy Resources (PINKSHEETS: GRGR) has targeted the Northeast US for supply contracts. The current market is approximately 1.5 million tons valued under $40 million dollars and is expected to quadruple within the next 3 years to over $500 million dollars with the addition of several new well publicized biomass, ethanol and wood pellet plants. Green Energy Resources has set a goal of 15% market share over the next 5 years.

Increasing competition and need for supplies for woodchips to manufacture pellets, cellulostic ethanol and biomass has opened a once tiny market consisting of mostly local suppliers to a much larger sphere of supply. Green Energy Resources has millions of tons in its virtual inventory through its highly developed UTCS software. Through its current base of operations, Green Energy Resources can reach the entire eastern seaboard, the Great Lakes via canals and rivers, and the Connecticut Valley to New Hampshire. Green Energy Resources offers high quality green woodchips, bone dry woodchips for high BTU output, and low grade biomass for any application including gasification for ethanol. Green Energy Resources empowers buyers with a superior mitigated risk management strategy relieving them of vulnerabilities from local suppliers or adverse weather conditions.

Green Energy Resources is conducting a search for a port to expand operations in the New York City area. The quest for a suitable port facility is underway and two sites have already been identified. The facilities will require substantial investment dollars to support barge operations, ships, and a pellet manufacturing plant. Green Energy Resources is seeking investment partners on the project.

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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