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GSAE PR-Sept 17 2008
September 17, 2008 - 4:11 PM EDT
Green Star Alternative Energy Pleased to Announce Notos Engages New Board Member
Green Star Alternative Energy, Inc. (Pink Sheets:GSAE), a renewable energy company focused on creating electricity from the power of wind, is pleased to announce that Notos d.o.o. has engaged the services of a new Advisory Board Member. Green Star is acquiring alternative energy development and power trading company Notos to become Serbia’s first wind power developer.
Mr. Miodrag Nesic was born in Zivica, Municipality of Pozarevac, Republic of Serbia. Mr. Nesic received his B.A.Sc. degree in Mechanical Engineering from the University of Belgrade. He began his career working on and perfecting mechanical finishing through computer numerical control and progressed to mechanical and industrial design. He has a 25-year background within the mechanical industry and has extensive knowledge in mechanical design. His duties will include guiding Notos in the design of its wind energy facilities.
Mr. Nesic currently holds five approved and three certified patents for various mechanical applications that he has created. One of Mr. Nesic’s latest patents is relevant to the wind turbine industry. His invention provides for greater turbine efficiency and will also reduce turbine production costs. Notos has entered into negotiations with Mr. Nesic with the intention of licensing this technology.
Miodrag Andric, President of Notos, commented: “We are fortunate to have Mr. Nesic join us at Notos. His knowledge, talent, and creativity make him a most valuable asset. His latest patented design will initiate new, exciting, and important possibilities for Notos.”
J. M. De Castro, CFO of Green Star Alternative Energy, stated: “The Company’s potential is increasing at a significant rate. We are delighted with the appointment of Mr. Nesic and look forward to benefiting from his experience and abilities.”
About Green Star Alternative Energy (GSAE.PK)
Green Star Alternative Energy, Inc. is working to develop more than 300 megawatts of clean wind energy. To drive growth and revenue Green Star is focused on the development of wind energy, the import and export of electricity, the cultivation of agriculture on its wind farms, and the supply of greenhouse gas emission credits. The company is pursuing a significant opportunity to provide clean power to the growing Republic of Serbia and neighboring European countries. With the pending acquisition of key wind farm and power trading company Notos, Green Star will become one of a select few companies licensed to trade electrical power into and out of Serbia, the only company in Serbia able to generate and export its own wind energy, and the nation’s first developer of wind power.
FORWARD-LOOKING STATEMENTS
This press release contains 'forward-looking statements.' These are statements concerning plans, objectives, goals, strategies, expectations, estimates, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. In some cases forward-looking statements can be identified by the use of forward-looking words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' or 'anticipates,' 'estimates,' or the negative of these words or other variations of these words or comparable words, or by discussions of plans or strategy that involve risks and uncertainties. Management wishes to caution the reader that these forward-looking statements, including, but not limited to, statements regarding the Company's plans, goals the estimates and assumptions, and the business strategy of the Company and other matters that are not historical facts are only predictions. No assurances can be given that such predictions and the estimates regarding mineral reserves, success of mining plans, or other projections will prove correct or that the anticipated future results will be achieved. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, the intense competition the company faces from others, and technological changes. Any one or more of these or other risks could cause actual results to differ materially from the future results indicated, expressed, or implied in such forward-looking statements.
Green Star Alternative Energy, Inc.
Jesse De Castro, CFO, 1-866-955-GSAE (4723)
info@greenstarae.com
Source: Business Wire (September 17, 2008 - 4:11 PM EDT)
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