HUNTINGTON, N.Y., July 25, 2005 (PRIMEZONE) -- Green Energy Resources (Pink Sheets:GRGR) will deliver wood biomass to ENEL spa, an international power provider, beginning this week. ENEL of Italy is a publicly traded company with diverse renewable energy operations that include biomass, wind gas, and geothermal power in Europe, North and South America. ENEL's American headquarters is located in Stamford, Conn. The company, with over 70 power plants, develops, designs, builds, and operates utilities generating over 10 billion kilowatts annually and nearly a billion euros in revenues.
Green Energy Resources began exporting to Europe two years ago, successfully supplying the Euro Energy Group, and ICL, both of Italy. Green Energy Resources is in the process of finalizing two other European contracts, pending review of port facilities, and laboratory emissions tests of its biomass. Results of the international third-party verifiers are expected to be completed shortly.
Green Energy Resources launched its North American operations to ENEL, in Windsor, Conn. Connecticut has one of the top-ranked Renewable Portfolio Standards (RPS) in the United States. Green Energy Resources is engaged in supply talks with three other power utility providers planning to build power plants in the state 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 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.