Nice little $GESI update. I wonder what comes next?
Green Energy Solution Industries, Inc. announces that the Company has begun the process to significantly expand its revenue generation to achieve a projected $9,000,000 revenue from sales of electricity through peak pricing through direct marketing of the energy by application and participation as a direct wholesale market participant for sales of electricity into the Alberta market. The revenues each year could increase dramatically based upon the energy costs being experienced historically in Alberta. Thus additional increase in revenue can be realized by GESI at all times and not be subject to a long term locked in price contract. The direct market participation will allow the Company to sell electricity at the peak electricity pricing for Alberta through the AESO for the power produced from its planned 200 ton per day 12-15 MegaWatt waste to energy plant. The revenue generation will be expanded to sell at on peak energy pricing on a constant 24 hour basis, when electricity is constantly sold on an ongoing daily basis. Alberta's energy pricing is significantly higher that eastern Canada, and the ability of GESI to be a direct participant seller.
Electricity sales in Alberta is governed and controlled by an independent energy supply operator. GESI, by direct participation will be able to reach the peak sales and not be locked into lower priced contract rates for its electricity produced. Electricity pricing in Alberta ranges from $75 (CDN) per Megawatt hour to as high as $180 per Megawatt hour. The Company will not be locked in at lower pricing as first expected under power purchase agreements which are the other alternatives available.
GESI's 200 ton per day plant will work from the feedstock of used rail ties. GESI had started the project as a study by receiving a grant from Alberta Energy which it utilized to plan out the utilization of rail ties as a feedstock. GESI then entered into the feedstock contract with an industry leader in the rail industry, where it plans to build the plant under a lease at the rail tie collection site. InREFCo has worked diligently with GESI, to introduce financing sources for the project. With the ability of GESI to be a direct market participant for energy sales, the financing due to revenue projections may be reached on better terms than if GESI was locked into long term contracts at constant rate for the electricity sales.
GESI Green Energy Solution Industries, Inc.
GESI is a project developer for renewable energy projects in Canada. Utilizing in-depth due diligence, GESI has developed business plans, contracts and agreements with resource providers, land owners, waste sources, technology providers, and government entities for the placement of renewable energy projects. GESI is now a public company with administrative offices in Houston, Texas and operations in Alberta, Canada. For More Information on GESI see the web site at www.gestechnologies.com.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes", "expects", "potential", "plans", "projected", "suggests", "may", "should", "could", "intends", or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.