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| Green Energy Resources targets 20% of EU's $54 billion cellulosic investment |
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| Wednesday, 19 July 2006 | |
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Green Energy Resources has targeted a 20% market share (about $9 billion dollars) of the expanding European wood biomass market by 2011.
Green Energy Resources (PINK SHEETS: GRGR) cited the Center for International Forestry Research and the UK's Department for International Development that USD $54 billion will be invested in "cheap wood" sources by 2015.
The investment reflects strong demand for a variety of renewable energy projects including, biomass, gasification, co-firing, carbon sequestration and cellulostic fiber. The report in the July issue of "Environmental Finance Magazine" stated European financial institutions such as Dutch ING, ABN Amro and Rabobank were investing aggressively in environmentally responsible wood supplies. The report confirms growing import demand in Europe and the need for strong environmental standards protecting global forests. Wood biomass (cellulose fiber), according to published reports by the US DOE July 12th, is expected to expand rapidly over the next 3-5 years. The US DOE indicated wood biomass (cellulose fiber) is likely to surpass and replace corn as the major supply ingredient for ethanol. Ethanol from wood is cheaper and in greater supply than corn. US Secretary Bodman and the US Department of Energy have targeted a 30% market share for ethanol as a transportation fuel by 2030. Green Energy Resources obtains its supplies from wastewood sources, such as landfills, municipalities, and hurricane storm damage.
David Smith, Singapore
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