(PRWEB) January 31, 2008
Freedom Renewable Energy (http://www.freedom-renewable.com) has been liscensed by Global Environmental Energy Corp (OTCBB:GEECF – DE:GLI) to sell Biospheres in the United States. Freedom has been working with a number of local municipalities and jas signed a number of draft contracts for Biosphere sales.
The agreement requires Freedom to purchase a minimum of 25 Biosphere systems per annum from GEECF at an initial price of USD$9,000,000 per system. GEECF will receive USD$9,000,000 per system and will in addition maintain an equity interest in each system, receiving a royalty payment for; revenue will be generated from both tipping fees and the sale of electricity.
The Biosphere process gasifies solid waste into green energy, which is used to heat steam that drives an electricity-generating turbine. In simple language, municipal waste, a reoccurring feedstock, is used to produce green energy. The power generated from waste is fed into a power grid, deriving carbon credits and simultaneously ridding the environment of the ever-increasing supply of household waste.
Global is publicly traded on stock markets in Germany and the United States. Global manufactures Biosphere’s in China with the Yankuang Group of Companies. Global maintains a web site at http://www.geecf.ru. Freedom is a Delaware incorporated US company, and is seeking a listing on the AIM Market in London. Freedom maintains a web site at http://www.freedom-renewable.com
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections.
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