SAN ANTONIO, April 7, 2010 (GLOBE NEWSWIRE) -- Green Energy Resources (Pink Sheets:GRGR ) is moving to San Antonio, Texas. Texas remains the U.S. energy capital and San Antonio enables the company to expand, manage, develop and ship orders of its new high 16,000 BTU energy woodchips out of first rate gulf coast ports. The high energy woodchips can replace coal at about half the cost of coal. In addition, Green Energy Resources is seeking to set up the largest scale carbon offset forestation project in the United States working with south Texas Ranchers. The high energy chips are the way of the future for both the U.S. and European markets, according to Green Energy Resources CEO, Joseph Murray. Green Energy Resources plans to shift its entire operations to San Antonio but will retain its New York City address.
The Next Great Energy boom is woodchips. 1 billion tons needed.
51% of all U.S. electric power is generated from coal. The U.S. consumed approximately 965 million tons of coal for electricity in 2009 (down 10% from 2008). Co-firing at a 10% blend ratio (woodchips or pellets) will require approximately 100 million tons of new woodchips to meet demand annually. Over the next 10 years, that's 1 billion tons of woodchips. The demand does not include wood required for direct burn biomass plants (also increasing in number) or other utilizations such as wood ethanol or gasification. Green Energy Resources has been positioning for the U.S. market for 6 years developing a delivery supply network. Coal will become increasingly more expensive as mines in Appalachia are already being tapped out, creating even greater opportunities for wood in energy.
LIBERIA, Africa
Green Energy Resources has agreed to represent rubber tree plantation owners looking to rotate their trees. "GRGR" is offering 10,000 Hectacres of rubber trees for energy to global buyers. The plantation owners are a start up operation in
terms of biomass and need to obtain financing for chipping equipment to begin production, likely to take around 6 months. The company is offering a million tons over a 5 year harvest period.
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,ship availability, fuel costs and other risks.