IRVINE, Calif., Aug. 17, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (Pink Sheets:UBRG), a publicly traded energy company, announced today that NDR Energy Group, its subsidiary, was awarded another contract to supply natural gas to another new major gas utility customer. The Company is obtaining at least one or more new gas supply contract awards each month from utilities throughout the U.S.
This contract was awarded by one of the largest natural gas distribution utilities in the Mid-West. The parent company, one of the largest investor owned utilities in the nation, provides natural gas and electric service to approximately 2.4 million electric customers and nearly one million natural gas customers. Its parent company, traded on the NYSE, reported revenues of $7.6 billion in 2010, operates one nuclear facility, three hydroelectric plants and more than a dozen combustion turbine facilities in the Mid-West.
NDR Energy's CEO, Ken Harris states, "This contract award represents another major achievement for our company. Our sales team spent a considerable amount of time and effort in establishing ourselves as a strong partner with this quality driven company. Our persistence paid off. This should be a great relationship moving forward. Our agreement with this customer limits us from disclosing the customers name and some details. However, this confirms the continued rapid growth of our customer base. And, we continue to grow our sales presence in a diversity of markets across the United States. In addition, our revenues for this year continue to be extremely strong. We recently added another profit center to our portfolio by venturing into marketing propane. And, we continue to focus on a number of very large multi-million dollar contracts with several major utilities. We anticipate that those transactions may close in the near future. With these continued progressions, we could potentially generate revenues in the range of $75 to $100 million this year."
About Universal Bioenergy Inc.
Universal Bioenergy Inc. is an energy company, that intends to market natural and alternative energy including natural gas, petroleum, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to build the company into a prominent player in alternative energy.
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