Green Energy Resources Seeks Woodchips Listing on New York and Chicago Boards of Trade to Capture Alternative Fuel Market
(BUSINESS WIRE)--Green Energy Resources seeks inclusion of woodchips on the new UBS Biofuels Index. UBS, an international bank, and Diapson Commodities of Switzerland, launched a commodity based biofuels index last week. The new global index comes in response to rapidly increasing demand for the two major forms of alternative fuel, biodeisel and ethanol. According to Diapson Commodities, "supply can not meet demand". The index currently does not include woodchips as a component commodity. Its omission is of particular note, since it was touted by President Bush's in his State of the Union Address. The new commodity based index is listed on Chicago and the New York Boards of Trade, among others. Green Energy Resources desires inclusion of woodchips in the index, to attract focus to its European and American strategies to capture 20% of the woodchip market by 2011. Green Energy Resources has already provided a letter of intent to supply an ethanol plant in Maryland beginning in 2008. Finally, Green Energy Resources stock buy back plan continues in effect. The company remains engaged in ongoing negotiations for the export of woodchips and pellets to Europe. 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.
Articles 
| View all PennWell sites | View all PennWell events
Add RSS Feed
