HOUSTON, Nov. 10, 2008 (GLOBE NEWSWIRE) -- Green Energy Resources Inc. (Pink Sheets:GRGR) commenced shipping 20,000 tons of Hurricane Ike wood to Sempra Energy's Twin Oaks power plant located near Waco, Texas. The 170 megawatt power plant is temporarily switching from coal to wood biomass to be "greener", according to the announcement on the power plant's website. Green Energy Resources is the subcontracted supplier. Green Energy Resources is collaborating on multiple projects nationwide with several strategic partners seeking to gain a major U.S. market share for wood biomass. Green Energy Resources is in the process of procuring upwards of a million or more tons of wood generated throughout the region by Hurricane Ike last September. The Texas market in particular is rapidly growing and expects to add over 250 megawatts of wood powered plants over the next three years.
In another major development, the election of Barack Obama has signaled a major shift in the U.S. policy towards renewable and alternative energies. It is anticipated over the next ten years the market will increase ten to twenty times over current capacity. The new administration has promised real commitment, including a cap and trade market for greenhouse gases. Green Energy Resources will seek to remain in the forefront of the renewable energy industry. The company has commenced a search to acquire a Bulletin Board or Amex company to lift it from the Pink Sheets into major international market prominence. There will be more on this in an upcoming announcement.
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.