May 31 - Business Wire
Green Energy Resources (otc pk:GRGR) is poised for a $2 billion dollar, 40 million ton, 10 year, 3 stage phase in deal in Europe. The contract begins in 2006 and escalates in volumes as 3 biomass power plants are constructed. The largest of the biomass power plants is a 250 megawatt plant that will consume 4 million tons annually. The third of three plants is currently scheduled to be completed in 2009. The contract is one of three deals completed on its recent European trip. Details of the other contracts will be disclosed over the next few weeks.
Green Energy Resources is expected to meet with its investment bankers to
discuss underwriting details shortly. Bankers include Brock Capital Group, and
Morrison & Kibbey, of New York City. Rivkin Radler of Uniondale NY, is Long
Islands largest law firm, and will handle final contract details, always subject
to ship procurement availability; GER and its ship broker Compass Maritime of
New Jersey, will meet with ship owners in New York in mid June.
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.