SOURCE: Green Energy Resources

September 07, 2007 06:29 ET

Woodchips With 20,000 BTUs of Energy -- Green Energy Resources (GRGR) Launches European Marketing Campaign of Kiln Dried Woodchips

NEW YORK, NY--(Marketwire - September 7, 2007) - Green Energy Resources (PINKSHEETS: GRGR) launches a marketing drive in Europe of kiln dried woodchips. The company's goal is to capture a 100% market share of the newly offered and developed product. Green Energy Resources CEO Joseph Murray and other company representatives depart for Europe tomorrow including Rotterdam, Amsterdam, Paris, and Stockholm, to offer the kiln dried woodchips with a heat capacity of up to 20,000 BTUs (5000 Kcal). The woodchips are oven dried to increase heat capacity. The heat equivalent is roughly the same as coal without the emissions. Coal ranges between 12,000 to 25,000 BTUs of heat capacity. The cost per ton for kiln dried woodchips is over $125 delivered, making woodchips commercially competitive with coal. The woodchips comply with all environmental regulations.

The price of kiln dried woodchips is approximately 3 times that of green woodchips and will bolster sales in 2008. The company has been deluged with inquiries about the kiln dried woodchips since last week's announcement. European power producers prefer to buy woodchips based on energy output known as gigajoules or on kilocalorie capacity. The higher the heat output the more cost effective the results on the power grid. Green Energy Resources was the first company from the United States to export woodchips in 2003 and looks to be the first to deliver kiln dried woodchips to Europe in late 2007 or early 2008.

Green Energy Resources recently announced a 10% stock dividend for company shareholders in 2007. The record date will not be made official until later in September. Green Energy Resources issued a 5% stock dividend in 2006. Green Energy Resources CEO Joseph Murray returned his dividend of 1.5 million shares back to the treasury in 2006 and has pledged to do the same in 2007.


About Green Energy Resources

Green Energy Resources is a wood biomass supplier sourcing from landfills, municipalities, hurricanes, storm damage and other sustainable sources. The company also offers the sale of Carbon offset credits.

The company has no debt, has not raised any public money, operates on its own cash flow and is not leveraged. The Public float is approximately 17.5 million shares. A combined total of 50 million shares is issued and outstanding.

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 company's 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.

Contact Information