IRVINE, Calif., May 5, 2011 (GLOBE NEWSWIRE) -- NDR Energy Group, a natural gas and alternative energy company, and subsidiary of Universal Bioenergy Inc., (Pink Sheets:UBRG), announced today that it was awarded a contract to supply natural gas to one of the nation's largest gas distribution companies.
The agreement limits NDR Energy from disclosing the customer's name and some details, however the customer has distributed natural gas for over 50 years, and serves more than 2.2 million customers in a service territory that encompasses a large portion of the upper Midwest. In 2010 the customer's parent company reported revenues of over $2.7 billion.
NDR Energy's CEO, Ken Harris states, "We are very excited about the opportunity to supply gas to another one of the nations largest gas distribution companies. This supply agreement was a real challenge to win, in that we were competing against some very impressive companies. I certainly congratulate our administrative and sales staff for their diligent efforts during the RFP process. A great portion of our recent success results from the continued focus and dedication of the sales division at NDR Energy and the leadership of our CDO, Rickey Hart. The value of gas to be supplied under the agreement is approximately $2.8 million and it is expected that we will deliver the gas to this customer later this year."
"The timing of this is perfect since we recently set a new record in trading volume," said Solomon Ali, Universal's Senior Vice President. "The award of this contract underscores the success of our strategy as we deliver on our commitments to our shareholders. We believe this will generate increased revenues, have a positive impact on the value of our stock and increase shareholder value."
About Universal Bioenergy Inc.
Universal Bioenergy Inc. is an alternative energy company, and intends to create and market natural and alternative energy sources including natural gas, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to build the company into a prominent player in alternative energy.
The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784
About NDR Energy Group LLC
NDR Energy Group, a Universal Bioenergy subsidiary, is an energy marketing and services company, which markets natural gas and alternative energy, to major electric utilities and corporate clients throughout the U.S.
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
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