Bush Administration Establishes Program to Reduce Foreign Oil Dependency, Greenhouse Gases

Washington, D.C. – April 10, 2007 -- In step with the Bush Administration’s call to increase the supply of alternative and renewable fuels nationwide, the U.S. Environmental Protection Agency today established the nation’s first comprehensive Renewable Fuel Standard (RFS) program.

At a press conference today, EPA Administrator Stephen L. Johnson, joined by Energy Secretary Samuel Bodman and National Highway Traffic Safety Administrator Nicole Nason, discussed the RFS program, increasing the use of alternative fuels and modernizing CAFÉ standards for cars.

“The Renewable Fuel Standard offers the American people a hat trick – it protects the environment, strengthens our energy security, and supports America’s farmers,” said EPA Administrator Johnson. “Today, we’re taking an important first step toward meeting President Bush’s “20 in 10” goal of jumping off the treadmill of foreign oil dependency.”

"Increasing the use of renewable and alternative fuels to power our nation's vehicles will help meet the President's Twenty in Ten goal of reducing gasoline usage by 20 percent in ten years," Secretary Bodman said. "The Administration's sustained commitment to technology investment will bring a variety of alternative fuel sources to market and further reduce our nation's dependence on foreign sources of energy."

“While we must look at increasing the availability of renewable and alternative fuels, we must also continue to improve the fuel efficiency of our passenger cars and light trucks,” said Nicole R. Nason, Administrator of the National Highway Traffic Safety Administration. “As a part of the President’s “20 in 10” energy security plan, we need Congress to give the Secretary of Transportation the authority to reform the current passenger car fuel economy standard.”

Authorized by the Energy Policy Act of 2005, the RFS program requires that the equivalent of at least 7.5 billion gallons of renewable fuel be blended into motor vehicle fuel sold in the U.S. by 2012. The program is estimated to cut petroleum use by up to 3.9 billion gallons and cut annual greenhouse gas emissions by up to 13.1 million metric tons by 2012 -- the equivalent of preventing the emissions of 2.3 million cars. The RFS is an important first step toward meeting President Bush’s call on our nation to reduce gasoline use by 20-percent within 10 years by growing our renewable and alternative fuel use to 35 billion gallons by the year 2017.

The RFS program will promote the use of fuels such as ethanol and biodiesel, which are largely produced from American crops. The program will create new markets for farm products, increase energy security, and promote the development of advanced technologies that will help make renewable fuel cost-competitive with conventional gasoline. In particular, the RFS program establishes special incentives for producing and using fuels produced from cellulosic biomass, such as switchgrass and woodchips.

The RFS program requires major American refiners, blenders, and importers to use a minimum volume of renewable fuel each year between 2007 and 2012. The minimum level or “standard” which is determined as a percentage of the total volume of fuel a company produces or imports, will increase every year. For 2007, 4.02 percent of all the fuel sold or dispensed to U.S. motorists will have to come from renewable sources, roughly 4.7 billion gallons.

The RFS program is based on a trading system that provides a flexible means for industry to comply with the annual standard by allowing renewable fuels to be used where they are most economical. Various renewable fuels can be used to meet the requirements of the program. While the RFS program establishes that a minimum amount of renewable fuel be used in the United States, more fuel can be used if producers and blenders choose to do so.

The RFS brings the nation closer to President Bush’s Twenty in Ten goal to reduce gasoline consumption 20 percent in ten years. To achieve this goal, the Bush Administration’s Alternative Fuel Standard (AFS) proposal builds on the RFS and requires use of 35 billion gallons of renewable and alternative fuels in 2017 - nearly five times the RFS target of 2012. The AFS proposal will displace 15 percent of projected annual gasoline use in 2017 through the use of fuels, including corn ethanol, cellulosic ethanol, biodiesel, methanol, butanol, hydrogen, and other alternative fuels. The Twenty in Ten plan also calls for reforming and modernizing CAFÉ standards to increase the fuel economy of cars. This will reduce projected annual gasoline use by up to 8.5 billion gallons, a further 5 percent reduction that will bring the total reduction in projected annual gasoline use to 20 percent. President Bush has called on Congress to act on these proposals by the start of the summer driving season this year.

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EPA Renewable Fuels

Alt-Fuels Pioneer Wins $100,000 Award for Sustainability

Lee Lynd, a Dartmouth College professor and the co-founder of Mascoma Corp., a cellulosic biomass-to-ethanol company, has received the first Lemelson-MIT Award for Systainability honoring his 25 years of achievements and research into alternative fuels. He received the $100,000 award on April 2nd, which recognizes inventors whose products or processes improve economic opportunity and community well-being, and at the same time protect and restore the natural environment.

Professor Lynd and his colleagues have researched and identified advanced technologies for converting biomass such as grass, using cellulose-utilizing bacteria to produce ethanol, resulting in a sustainable carbon cycle with no net emissions of carbon dioxide –
a process configuration known as consolidated bioprocessing (CBP).

“Decades ago, Lee Lynd started doing something about global warming and the rapid depletion of the world’s non-renewable energy resources,” said Merton Flemings, director of the Lemelson-MIT Program. “He continued to experiment and pursue his ideas even when the conventional wisdom said they couldn’t be done.”

“Lee’s groundbreaking research has driven forward the public policy debate, the business world, and the fundamental science of bioenergy,” said Nathanael Greene, a senior policy analyst at the Natural Resources Defense Council, and one of Lynd’s nominators for the $100,000 Lemelson-MIT Award for Sustainability. “His work has helped frame our basic understanding of the sustainable potential for bioenergy and especially biofuels.”

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Business Wire

Green Energy Resources ('GRGR') to Sponsor Bioenergy North America Conference in April

New York, NY -- March 15, 2007 -- Green Energy Resources (PINKSHEETS: GRGR) will sponsor the Bioenergy North America 2007 Conference. The conference will be held in Chicago on April 16 and 17 in conjunction with Environmental Finance Magazine of the UK. Green Energy Resources CEO Joseph Murray will speak at the event. The two-day forum will host a variety of speakers on various topics regarding bioenergy and biomass including ethanol, co-firing and direct burn . Green Energy Resources will utilize the opportunity to unveil its new UTCS trade board and sell carbon offset credits. Info is available at www.environmental-finance.com

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Environmental Finance

DOE Selects Six Cellulosic Ethanol Plants for Up to $385 Million in Federal Funding

Funding to help bring cellulosic ethanol to market and help revolutionize the industry

WASHINGTON, DC – U.S. Department of Energy (DOE) Secretary Samuel W. Bodman today announced that DOE will invest up to $385 million for six biorefinery projects over the next four years. When fully operational, the biorefineries are expected to produce more than 130 million gallons of cellulosic ethanol per year. This production will help further President Bush’s goal of making cellulosic ethanol cost-competitive with gasoline by 2012 and, along with increased automobile fuel efficiency, reduce America’s gasoline consumption by 20 percent in ten years.

“These biorefineries will play a critical role in helping to bring cellulosic ethanol to market, and teaching us how we can produce it in a more cost effective manner,” Secretary Bodman said. “Ultimately, success in producing inexpensive cellulosic ethanol could be a key to eliminating our nation’s addiction to oil. By relying on American ingenuity and on American farmers for fuel, we will enhance our nation’s energy and economic security.”

Today’s announcement is one part of the Bush Administration’s comprehensive plan to support commercialization of scientific breakthroughs on biofuels. Specifically, these projects directly support the goals of President Bush’s Twenty in Ten Initiative, which aims to increase the use of renewable and alternative fuels in the transportation sector to the equivalent of 35 billion gallons of ethanol a year by 2017. Funding for these projects is an integral part of the President’s Biofuels Initiative that will lead to the wide-scale use of non-food based biomass, such as agricultural waste, trees, forest residues, and perennial grasses in the production of transportation fuels, electricity, and other products. The solicitation, announced a year ago, was initially for three biorefineries and $160 million. However, in an effort to expedite the goals of President Bush’s Advanced Energy Initiative and help achieve the goals of his Twenty in Ten Initiative, within authority of the Energy Policy Act of 2005 (EPAct 2005), Section 932, Secretary Bodman raised the funding ceiling.

“We had a number of very good proposals, but these six were considered ‘meritorious’ by a merit review panel made up of bioenergy experts. So I thought it would be best to front-end some more funding now, so that we could all reap the benefits of the President’s vision sooner,” Secretary Bodman said.

Combined with the industry cost share, more than $1.2 billion will be invested in these six biorefineries. Negotiations between the selected companies and DOE will begin immediately to determine final project plans and funding levels. Funding will begin this fiscal year and run through FY 2010. EPAct authorized DOE to solicit and fund proposals for the commercial demonstration of advanced biorefineries that use cellulosic feedstocks to produce ethanol and co-produce bioproducts and electricity.
The following six projects were selected:

Abengoa Bioenergy Biomass of Kansas, LLC of Chesterfield, Missouri, up to $76 million.The proposed plant will be located in the state of Kansas. The plant will produce 11.4 million gallons of ethanol annually and enough energy to power the facility, with any excess energy being used to power the adjacent corn dry grind mill. The plant will use 700 tons per day of corn stover, wheat straw, milo stubble, switchgrass, and other feedstocks.
Abengoa Bioenergy Biomass investors/participants include: Abengoa Bioenergy R&D, Inc.; Abengoa Engineering and Construction, LLC; Antares Corp.; and Taylor Engineering.

ALICO, Inc. of LaBelle, Florida, up to $33 million.The proposed plant will be in LaBelle (Hendry County), Florida. The plant will produce 13.9 million gallons of ethanol a year and 6,255 kilowatts of electric power, as well as 8.8 tons of hydrogen and 50 tons of ammonia per day. For feedstock, the plant will use 770 tons per day of yard, wood, and vegetative wastes and eventually energycane.ALICO, Inc. investors/participants include: Bioengineering Resources, Inc. of Fayetteville, Arkansas; Washington Group International of Boise, Idaho; GeoSyntec Consultants of Boca Raton, Florida; BG Katz Companies/JAKS, LLC of Parkland, Florida; and Emmaus Foundation, Inc.

BlueFire Ethanol, Inc. of Irvine, California, up to $40 million.The proposed plant will be in Southern California. The plant will be sited on an existing landfill and produce about 19 million gallons of ethanol a year. As feedstock, the plant would use 700 tons per day of sorted green waste and wood waste from landfills.BlueFire Ethanol, Inc. investors/participants include: Waste Management, Inc.; JGC Corporation; MECS Inc.; NAES; and PetroDiamond.

Broin Companies of Sioux Falls, South Dakota, up to $80 million.The plant is in Emmetsburg (Palo Alto County), Iowa, and after expansion, it will produce 125 million gallons of ethanol per year, of which roughly 25percent will be cellulosic ethanol. For feedstock in the production of cellulosic ethanol, the plant expects to use 842 tons per day of corn fiber, cobs, and stalks.
Broin Companies participants include: E. I. du Pont de Nemours and Company; Novozymes North America, Inc.; and DOE’s National Renewable Energy Laboratory.

Iogen Biorefinery Partners, LLC, of Arlington, Virginia, up to $80 million.The proposed plant will be built in Shelley, Idaho, near Idaho Falls, and will produce 18 million gallons of ethanol annually. The plant will use 700 tons per day of agricultural residues including wheat straw, barley straw, corn stover, switchgrass, and rice straw as feedstocks.
Iogen Biorefinery Partners, LLC investors/partners include: Iogen Energy Corporation; Iogen Corporation; Goldman Sachs; and The Royal Dutch/Shell Group.

Range Fuels (formerly Kergy Inc.) of Broomfield, Colorado, up to $76
million.The proposed plant will be constructed in Soperton (Treutlen County), Georgia. The plant will produce about 40 million gallons of ethanol per year and 9 million gallons per year of methanol. As feedstock, the plant will use 1,200 tons per day of wood residues and wood based energy crops.
Range Fuels investors/participants include: Merrick and Company; PRAJ Industries Ltd.; Western Research Institute; Georgia Forestry Commission; Yeomans Wood and Timber; Truetlen County Development Authority; BioConversion Technology; Khosla Ventures; CH2MHill; Gillis Ag and Timber.

Cellulosic ethanol is an alternative fuel made from a wide variety of non-food plant materials (or feedstocks), including agricultural wastes such as corn stover and cereal straws, industrial plant waste like saw dust and paper pulp, and energy crops grown specifically for fuel production like switchgrass. By using a variety of regional feedstocks for refining cellulosic ethanol, the fuel can be produced in nearly every region of the country. Though it requires a more complex refining process, cellulosic ethanol contains more net energy and results in lower greenhouse emissions than traditional corn-based ethanol. E-85, an ethanol-fuel blend that is 85-percent ethanol, is already available in more than 1,000 fueling stations nationwide and can power millions of flexible fuel vehicles already on the roads.

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DOE

Green Energy Resources to Offer Carbon Offset Credits

The Urban Tree Certification System (UTCS) Reduces Carbon by Planting Trees and Eliminating Wood Waste From Landfills

NEW YORK, NY -- 02/26/2007 -- Green Energy Resources will offer "Carbon Offset" credits through its Urban Tree Certification System (UTCS). Green Energy Resources UTCS urban forest management plan reduces carbon from the atmosphere by planting trees and taking wood waste from landfills and turning it into renewable energy. UTCS is designed to create a self-sustaining and revenue generating mechanism to plant millions of trees a year to create carbon sequestration in cities and suburbs. The company will sell the credits to the public, industry and the investment community. UTCS has strict and verifiable standards with measurable results where carbon reductions are permanent, quantifiable and scaleable.

The plan calls for every credit to be certified and authenticated. Green Energy Resources plans include retirement accounting of the carbon reductions from the atmosphere and a registry of every city and town that enrolls in UTCS. The Sale of Carbon Offset credits is anticipated to generate millions of dollars annually for the company in conjunction with each ton of biomass it sells.

The Carbon Offset market according to the World Bank, ranged from $.65 cents - $9.36 Per tonne of CO2 during 2005. A more recent survey conducted by the UK company Context found credits were sold to the public between $4 - $50 per tone of CO2. The creation of a viable business model for local, state and city governments in the US creates a bonafide self-sustaining renewable energy plan from biomass without the need to cut global forests. UTCS plan does not include RECs (Renewable Energy Credits) but rather sells to the power generator who earns the RECS. Green Energy Resource plan can be used voluntarily (VCS), sold in US regional markets or under the EU scheme because of its export of biomasse for energy over seas.

About Green Energy Resources
Green Energy Resources is a consultant to governments and the power generation industry on carbon reduction strategies. Green Energy Resources supplies 100% environmentally certified wood biomass. The company utilizes diverse sourcing for mitigated risk management. Green Energy Resources exclusive urban forest management plan, the Urban Tree Certification System (UTCS) is designed to solve the demand for wood biomass for energy through maximized resource utilization of urban and suburban wood waste streams to preserve global forests not cut them.

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.

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Green Energy Resources

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