GEECF: old news,,Sixth USD$8,500,000 sale to China.
Mar 30, 2006
OTC Disclosure & News Service
- March 24 2005 NASSAU, Bahamas--(BUSINESS WIRE)- Global Environmental Energy Corp. (OTC:GEECF - DE:GLI) confirmed today that its subsidiary, Biosphere Development Corp has concluded its sixth Chinese Biosphere Process(TM) System sale for USD$8,500,000. The system was sold at a price of USD$8,500,000 payable upon delivery to Rizhao City in Shandong Province. This sale increases Biospheres' 2006 Chinese sales target of 30 systems to 36 systems at USD$8,500,000 each or USD$306,000,000. Biosphere Asia Pacific Company Limited (ASIA PACIFIC ) has confirmed that a licensing fee of USD$50,000 has been received for this system. ASIA PACIFIC and Rizhao City, have agreed to build a System for municipal solid waste treatment and electricity generation. ASIA PACIFIC and Rizhao City are now forming a local operating company in Rizhao City to develop the project. In addition to revenue derived from system sales, Biosphere will participate in the operating profits from the Rizhao City project through its shareholding in Hong Kong based ASIA PACIFIC. Additional Systems' for Rizhao City will be manufactured in China by International Environmental Energy Corporation (IEEC). Global is publicly traded on stock markets in Germany and the United States. Biosphere is a subsidiary of Global. Note to Investors This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. Risk factors listed from time to time in its news releases and SEC filings may impact Global's actual performance and future results. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in forward-looking statements. Contact: Dr. McCormack 242 323 0086 global@coralwave.com www.geecf.net PO Box CB-13277 Nassau Bahamas
