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GSAE PR November 3, 2008 - 9:36 AM EST
Green Star Alternative Energy Announces Notos to Joint Venture With Eurowatt-Commerce
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE) announces Notos d.o.o. to partner with Eurowatt-Commerce of Belgium. This private European power trading and marketing company will joint venture with Notos to service the Republic of Serbia’s electricity market. In addition, this strategic alliance will increase Notos’ network of potential clients throughout Europe and allow for greater and more rapid expansion.
Eurowatt-Commerce is a leading independent pan-European company specializing in electricity marketing and trading, project financing, and energy consulting. It was founded in 1991 and, unlike many other companies in the field, was operating before competition in continental Europe was introduced. As a result, Eurowatt-Commerce is recognized throughout the industry as one of the pioneers of liberalized electricity markets. With an unrivalled experience of working in a competitive environment and developing new products and services, Eurowatt-Commerce is an ideal partner.
The final particulars that outline this collaboration are nearing completion. Contracts for this partnership are to be executed within the next two weeks in Brussels, Belgium.
On behalf of Eurowatt-Commerce, Alan Friedman stated: “We know how to create a collaborative environment that is necessary for success. This partnership approach is the most effective way to generate improved results.”
Miodrag Andric, President of Notos, stated: “After a rigorous evaluation process, Eurowatt-Commerce has emerged as the partner of choice for Notos. We are very pleased with the mutually beneficial nature of our business relationship and believe this partnership creates substantial value for both companies.”
J. M. De Castro, CFO of Green Star Alternative Energy, commented: “I am delighted to report that Green Star and Notos continue to implement the corporate strategy at an expeditious pace. We are determined to provide growth and value.”
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 neighbouring European countries. With the pending acquisition of key wind farm and power trading company Notos, Green Star will become one of only a 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 (November 3, 2008 - 9:36 AM EST)
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