GRGR news!
China and Green Energy Resources Open Renewable Energy Talks
Tuesday April 26, 8:59 am ET
10 Year, 250 Million Ton, 10 Ship Deal Discussed
BEIJING--(BUSINESS WIRE)--April 26, 2005--Green Energy Resources (Pink Sheets: GRGR - News) announced it has met with Chinese government ministers to discuss Renewable Energy. Negotiations were led by Mr. Andrew Tong of Green Energy Resources China office. China enacted a new Renewable Energy law in March, and signed the international Kyoto Treaty.
Discussions center on a 10 year, 250 million ton deal to deliver wood biomass for Co-firing to China. Green Energy Resources would buy 10 woodchip ships built and manufactured in China valued around $350 million dollars, and provide shipping lease back options to the Chinese government in the future. Talks are ongoing.
China recently announced its plans to expand coal production over 1 billion tons, and is exploring large scale co-firing. Co-firing is an environmentally friendly application of mixing wood biomass with coal to reduce greenhouse gases. The major trade obstacle is the U.S. Government's rejection of the Kyoto accord, as the world's largest emitter of greenhouse gases.
In related company news, a Chinese version of Green Energy Resources Website is currently being tested for the China market.
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.
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Contact:
Green Energy Resources
Joseph Murray, 631-421-5747
joe.murray@greenenergyresources.com
www.greenenergyresources.com
or
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