Published:
High Oil and Record Currency Exchange Rates Are Great News for Alternative Energy Exports for Green Energy Resources (GRGR)
Green Energy Resources (PINKSHEETS: GRGR) has
received a new export order for delivery of wood biomass to Europe. The
order, contracted in British pounds, is for 40,000 tons delivered or
about $2.6 million dollars. The shipment is subject to ship scheduling and
planned for later this year. Record European currency exchange rates are
pushing buyer interest and demand for biomass orders to Europe. The
shipment will be the first biomass export to the UK from North America.
High oil prices make alternative energy production very cost effective to
power producers. Oil is nearing $80 per barrel and US consumption in 2007
is exceeding that of 2006. The US dollar is currently about .45 cents to
the British pound and about .62 cents on the Euro. Green Energy Resources
has targeted a 20% market share of European biomass imports by 2011. The
European biomass market should exceed $1 billion dollars by 2010 according
to various European agencies.
In other news, biomass continues to be the workhorse of the renewable
energy industry leading solar and wind energy production by more than
double, according to the US Department of Energy 2006 statistics. Wood for
cellulostic ethanol continues to gain interest and momentum. Corn prices
have skyrocketed due to the rush to make ethanol biofuels.
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.
Forward-looking statements involve known and unknown risks and
uncertainties that may cause the companies' actual results in future
periods to differ materially from forecasted results. Such risks and
uncertainties include, but are not limited to, market conditions,
competitive factors, the ability to successfully complete additional
financings and other risks.
Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze,
Daily NewsTags: ,Energy and Utilities:AlternativeEnergy, EnergyandUtilities:Equipment, EnergyandUtilities:OilandGas, EnergyandUtilities:Utilities, ManufacturingandProduction:MachineryandTools, ManufacturingandProduction:MiningandMetals, ,INTHPINK,INTHPINK,NY,NEW YORK, NY
Search News
Daily News
