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February 18, 2011 12:46 PM Eastern Time
PGI Energy Announces New Green Energy Initiative and Launches New Energy Trading Platform
HOUSTON--(BUSINESS WIRE)--PGI ENERGY, INC., formerly known as Tensas, Inc., weeks after announcing a 3-for-1 forward stock split dividend to its shareholders announces a joint venture partnership with PGI GREEN E & P, INC. The joint venture partnership will be a new waste to green fuel refineries initiative to help reduce our carbon footprint. PGI GREEN E & P launched its initiative with partners Robert Gandy, PGI Energy’s Chief Credit Underwriter, Dario Berini, a computer engineer and chemical engineer, and Adam Erickson, an international energy business developer. The trio struck its deal with PGI Energy after visiting and negotiating with key manufacturers for distribution and sales of their proprietary technology to be deployed through a sales team led by Erickson. The technologies employed are biomass which transforms tires to light fuel oil, plastics to crude, pelletizing, and waste to syngas. PGI Energy plans to own and operate some of these units as well as distribution sales. The PGI Green E & P team has been working to develop relationships among feedstock providers such as large waste handlers, municipalities and have made significant progress. The refined fuels will be traded via traditional means of commodities trading through PGI Energy Trading, Inc. a new wholly owned subsidiary of PGI Energy. Mr. Gandy says its traders will utilize the proprietary trading system and expertise of Coquest, Inc., a Dallas based Commodities Broker registered with the CFTC (Commodity Futures Trading Commission), and an active member with the NFA (National Futures Association). The Coquest system will allow our traders to execute trades of our inventories daily through a variety of FCM’s and hedge our positions for risk management. “We are excited about the new opportunities to make a significant contribution to reducing our carbon footprint with green fuels and getting these products to market,” says Marcellous McZeal, the Company’s CEO.
“We are excited about the new opportunities to make a significant contribution to reducing our carbon footprint with green fuels and getting these products to market”
.Stock Split News Update
The Company will issue a 3-for-1 stock dividend to all shareholders of record up to the date the dividend shares are distributed on February 22, 2011 due to the holiday for clarification to our investors no shareholders will be diluted.
About us
PGI Energy, Inc., is an energy holding company, headquartered in Houston, Texas. The company’s purpose is to acquire assets in the proven producing oil and gas assets, refinery and pipeline sectors of the energy industry and other synergistic assets. The company will only acquire proven producing, and income producing assets. The Company recently updated its company information on OTC Markets.com and will utilize its voluntary reporting service to provide our shareholders with current information as soon as our audit is complete. We have hired McConnell & Jones LLP as our auditor to disseminate financial information to our investors about the company.
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