HUNTINGTON, N.Y., Sept. 7, 2005 (PRIMEZONE) -- Green Energy Resources (Pink Sheets:GRGR), citing "Green Prices News," has learned that Europe will increase its renewable energy targets from 20 percent to 25 percent by 2020. The new targets will be confirmed next month at a meeting of European Union leaders. The Netherlands has approved 400 million euros to expand renewable energy and Germany has already increased its renewable energy output by 11 percent in 2005. Biomass is expected to comprise up to 12 percent of the total renewable portfolios in Europe, a 100 percent increase from original goals. Demand for wood biomass is expected to increase at least four fold from current levels in Europe.
Green Energy Resources CEO, Joseph Murray, will depart for Europe next week to make preparations for 2006 export contracts. Destinations include Scotland, Holland, Italy, and London to continue preparations for its IPO on the London stock market early next year.
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.