$GESI
after hour news
http://www.marketwatch.com/story/gesi-announc...2012-03-13
VANCOUVER, BC, Mar 13, 2012 (MARKETWIRE via COMTEX) -- Green Energy Solution
Industries, Inc. (PINKSHEETS: GESI) announces anticipated entry into a Power
Purchase Agreement through a third-party. Power Purchase Agreements are
solidified contractual agreements for the purchase of pooled electrical power.
Long term contracts are being negotiated by GESI which qualifies the company for
long term financing for the project build out.
GESI's planned facility is on target to convert 200 tons of rail ties
(feedstock) per day using gasification. The company's power production ability
is to net a 10 Megawatt power supply. Given current electrical grid rates, each
phase of 10 Megawatt power could produce a contracted amount of revenue from
$5,840,000 (CD) to $8,030,000 for a 200 ton/day facility. Additional modulars
can be built as separate units based upon business planning and increases in
available feedstock at GESI's Alberta location.
CEO Gordon MacKay states, "The increased demand for electricity in Canada, as
well as the increase in electrical prices, means that the revenue for GESI is
highly likely to not decline in the foreseeable future. Annual electrical
pooling prices have increased 100% over the last ten years in Alberta."
GESI Green Energy Solution Industries, Inc. GESI is a project developer for
renewable energy projects in Canada. Utilizing in-depth due diligence, GESI has
developed business plans, contracts and agreements with resource providers, land
owners, waste sources, technology providers, and government entities for the
placement of renewable energy projects. GESI is now a public company with
administrative offices in Houston, Texas and operations in Alberta, Canada. For
More Information on GESI see the web site at www.gestechnologies.com
The foregoing press announcement contains forward-looking statements that can be
identified by such terminology such as "believes," "expects," "potential,"
"plans," "projected," "suggests," "may," "should," "could," "intends," or
similar expressions. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause the actual results to be
materially different from any future results, performance or achievements
expressed or implied by such statements. In particular, management's
expectations could be affected by, among other things, uncertainties relating to
our success in completing acquisitions, financing our operations, entering into
strategic partnerships, engaging management and other matters disclosed by us in
our public filings from time to time. Forward-looking statements speak only as
to the date they are made. The Company does not undertake to update
forward-looking statements to reflect circumstances or events that occur after
the date the forward-looking statements are made.
Contact:
David Zembeck
