TAMPA, Fla., March 27, 2007 (PRIME NEWSWIRE) -- Renewable Energy Resources, Inc. (OTCBB:RENW) (www.renw.com) today announced the release of a message to RENW Shareholders from the Company's new Chief Executive Officer. CEO Ken Brown stated that RENW will seek a new strategic direction to take advantage of opportunities in renewable energy that previously did not exist.
Mr. Brown's message stated that RENW's new mission is to become a broad based renewable energy company: " . . . 2007's energy reality -- high crude oil prices coupled with true government and social consensus to support alternatives to oil -- compels the Company to venture into new areas of renewable energy." RENW's vision is for its business endeavors to become synonymous with its name.
Mr. Brown affirmed the Company's continued commitment to the Energy Commander Technology. "This is wonderful technology," said Mr. Brown, "and we strongly believe in the potential of the EC V. . . It will be exciting for everyone when EC V units start producing electricity!"
Mr. Brown segued from the EC V to other renewable energy opportunities. He discussed the following:
New Management -- RENW has assembled a new management team with proven success in alternative energy development. Ed Hart, RENW's new Chief Operating Officer, recently developed a 50 MW biomass power plant in New York. Mr. Hart has 25 years experience in the oil and natural gas industry. Mr. Brown also discussed his experience developing biomass power plants and biofuels projects.
The Springfield Energy Project -- SEP is a project to acquire an old coalmine in Illinois. The Company will recover coal fines left in an impound area to burn in boilers and also dispose of coal combustion waste (fly ash). The project will take what was a waste product (coal fines) and convert into a resource to produce energy. The project is currently in the financing stage.
Biodiesel -- Biodiesel is an alternative fuel made from vegetable oil. Rather than selling biodiesel to government fleets -- a field already highly competitive -- RENW will produce and sell biodiesel into traditional diesel markets. RENW's biodiesel will be pegged to energy indexes such as the New York Mercantile Exchange and sold to commercial customers. The Company is exploring a number of biodiesel projects including the purchase of an existing biodiesel facility, construction of a new biodiesel plant and the creation of biodiesel power generation projects.
Strategic Partnerships and Acquisitions -- The Company is actively seeking to form strategic partnerships and identify potential projects and companies for acquisition. Mr. Brown stated that the Company's future growth will depend on finding "people who share our vision and drive . . ."
Mr. Brown's entire message is posted on the Company's website, www.renw.com.
About Renewable Energy Resources:
Renewable Energy Resources, Inc. is an alternative energy company developing and acquiring technologies that create energy and fuel from previously untapped sources. RENW specializes in renewable source of fuels as well as its core low flow hydro technology, the Energy Commander Technology. Renewable Energy Resources is the new name of Internal Hydro International, Inc. (OTCBB:RENW) and is based in Tampa, Florida.
Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.