IRVINE, Calif., Sept. 28, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG), an independent diversified energy company that focuses on marketing natural gas, oil and alternative energy, announced it has gained a greater share of the energy market by expanding its base of electric utility customers by nearly 20%. The company added four new major electric utilities and increased its national customer base from 22 to 26 to significantly increase its sales of natural gas. The new customers are either Fortune 500 companies or their subsidiaries. One is a U.S. subsidiary of an international electric and gas utility company.
The Company experienced an 87% growth in sales the first six months of this year. NDR Energy Group, Universal's subsidiary, now sells natural gas to 26 of the largest public utilities, electric power producers and gas distribution companies that serve millions of commercial, industrial and residential customers in the U.S.
Vince M. Guest, Universal's President says, "A major goal for us in 2011 is to focus on generating earnings and profitability. We plan to aggressively gain more market share and obtain more customers, including federal and state agencies, cities, municipalities, and large commercial and industrial customers. Our 26 customer contracts are a very valuable asset for us. Each one of our customer contracts has the potential to generate an estimated $12 to $18 million or more in annual sales. That is an additional $48 to $72 million in potential annual sales, just from these four new customers alone. Imagine our revenues when we consistently sell that kind of volume to all 26 customers. Based on our double digit revenue growth, our management believes our stock may be undervalued. The annual sales price per share based on our last twelve trailing months of revenues of $63.38 million is $0.47 in sales per share, which is almost 12 times the current share price. We are a high growth company, and are projecting $80 to $100 million in revenues for 2011. We believe this should create more value for our shareholders."
To learn more about Universal Bioenergy's significant increases of sales and customer base, please refer to the following analyst coverage from RaincoIndustries.com. (http://www.raincoindustries.com/index.php?option=com_content&view=article&id=109&Itemid=167)
About The Company
Universal Bioenergy Inc. is a diversified energy company, and intends to produce 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
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.