IRVINE, Calif., May 31, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (Pink Sheets:UBRG), a natural an alternative energy company announced that its subsidiary NDR Energy Group was awarded another contract in May 2011 to supply natural gas to a subsidiary of one of the nation's largest gas utility companies.
The contract was awarded by a subsidiary of $21.2 billion international electric and gas utility company with its U.S. headquarters on the East Coast, and is one of the largest natural gas distribution utilities in the United States that provides gas to around 3.5 million customers in its service area. Under the terms of the agreement NDR Energy Group is to supply natural gas to the customer for a period of thirty days for the month of June.
Universal's President Vince M. Guest states, "We are really excited about the award of this contract as this customer engages in the sale, distribution, and transportation of natural gas. This is another significant step for NDR Energy Group as they move forward to acquire more contracts with major utilities like these with national and international operations. Since they own multiple subsidiaries that supply gas and electricity, this transaction may lead to other opportunities to obtain additional gas contracts with their other subsidiaries. Ken Harris and NDR Energy Group are generating more momentum this year as they strive to build strong relationships with U.S. Fortune 500 and international companies. The contract limits us from disclosing the customer's name and some details, however this contract award is valued at $1.9 million and should increase the market value of our utility contracts portfolio, improve our assets and bring greater value to our shareholders as we position the Company to make it more attractive to the investment community and others."
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
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.