June 19, 2007 06:51 ET

Green Energy Resources (GRGR) Positions for 30 New Biomass Plants Planned for the Northeast Biomass by 2010

NEW YORK, NY--(Marketwire - June 19, 2007) - Green Energy Resources (PINKSHEETS: GRGR) predicts $50 per ton biomass woodchip prices within the next twelve months. The current US price level is between $25-32 per ton. Demand caused by the 25-30 new power plants planned in New England by 2010 does not include industry, institutions, universities, hospitals or conversions from natural gas, or cellulostic ethanol .Procurement of woodchips will be based on the delivery capacity of suppliers not local prices for the first time in history. Green Energy has been positioning in New England with rail and port locations to meet the anticipated sector expansion.

Green Energy Resources mitigated risk management approach offers power plants guarenteed supplies regardless of market or weather conditions. Green Energy Resources recently obtained rights for over 1 million tons of standing timber in the southeast US and has options on wood generated from future hurricanes as well as its Urban Tree Certification System (UTCS). Additionally Green Energy Resources is the only biomass supply company to offer carbon offset credits through its own platform and has submitted an application to trade and register the credits on the Chicago Climate Exchange.

New power plants have mandatory requirements for supply contracts prior to obtaining financing and permitting. The current situation is similar to California in the 1970s. Then consultants indicated an abundance of supply but failed to realize the number of competing regional plants would exhaust supplies in a short period of time.This led to many plant closures throughout California within a few years of their opening. A nearly identical situation is developing throughout New England unless woodchips are transported from beyond traditional limits.

The rush to build alternative power plants has been driven by the need to create local energy reliability performance as a result of the 2004 blackout and the Northeast Regional Renewable Portfolio Standards(RPS) enacted in 2006. Nine (9) New England states including Maryland and Delaware comprise the regional greenhouse gas initiative that became effective in 2007. The plan includes mandatory reliability standards in eighty three categories now enforeceable by the North American Electric reliability Corporation (NERC) under federal law with fines upto $1 million for non performance.

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.