Scottsdale, AZ (PRWEB) May 22, 2012
QualityStocks would like to highlight GreenWorld Development, Inc., a publicly traded company, dedicated to develop innovative, competitive, and sustainable products for efficiency goods and services, and to support the “Smart Green Economy”. The company is focused on becoming an important producer of Alternative Energy and Sustainable Renewable Energy sources. GreenWorld will acquire and/or ‘Build-Own-Operate’ Waste 2 Energy or Waste 2 Renewable Plants in the US, South America, and Europe, and license and transfer know how of its premium technologies to emerging markets.
In the company’s news yesterday,
GreenWorld Development, announced that it has signed a binding framework agreement to acquire Natures Earth LLC, a wood pellet manufacturing facility in North Carolina for a proposed acquisition cost of $16.5 million. Wood pellets are a major source of alternative energy for industrial and domestic use. The capacity of the facility is 120,000 metric tons of wood pellets. This amount is projected to be capable of producing annual revenues in excess of $20 million for GreenWorld Development.
This acquisition is the first cornerstone in the company’s projected expansion plan of “build-own-operate waste-2-energy” plants both in the United States and Europe. GreenWorld plans to double the capacity of the plant within one year and is currently in advanced discussions with a realistic long term production offtaker and feed stock provider. It is at the moment in the process of raising capital, via a long-term financing bond, from a major US financial institution.
The acquisition agreement includes the Equine Pine & Freedom Fuel brands owned by Natures Earth LLC. Once the acquisition closes, GreenWorld intends to appoint Jason Kessler of Kesco and Bliss Industries LLC as the project manager. He has many years of expertise and experience in this industry.
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This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.