Green Energy Resources Inks Another Wood Pellet Contract

Green Energy Resources has received two separate orders totaling 20,000 tons of wood pellets valued at US$28 million dollars over 12 months

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Description

Green Energy Resources Inks Another Wood Pellet Contract

7/6/2009

NEW YORK: Green Energy Resources (Pink Sheets: GRGR) has received two separate orders totaling 20,000 tons of wood pellets valued at US$28 million dollars over 12 months. The order is expected to commence late in 2009 and extend throughout 2010. The wood pellets are used in co-firing with coal to reduce green house gas emissions.

Last month, the company signed a 10 year domestic biomass supply contract valued at over US$300 million dollars. The contract contains provisions for monthly fuel adjustments and yearly inflation increases after supply commences in 2010. The power plant requirements exceed one million tons annually to upwards of 1.5 million tons.

Green Energy Resources sources its wood from urban wood waste streams, storm damage, cities and municipalities. The company is currently engaged in exports of wood chips to power plants in Europe.

Additional Information

Web Site: http://www.energycurrent.com/index.php?id=3&storyid=19205

Category: Forestry>Wood Pellets

Region: Worldwide

Ad Running: 7/7/2009-7/7/2011

Ad Posted: 7/7/2009 10:22:20 AM

Ad Viewed: 534 times

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