GESI Is Awarded Part One, $177,000, of Grant From Alberta Energy
(firmenpresse) - HOUSTON, TX -- (Marketwire) -- 10/11/11 -- (PINKSHEETS: SATM) Green Energy Solution Industries, Inc. (Currently Trading as OTCPK: SATM) announced today that the grant received from the Minister of Energy ---Alberta Energy -- was and is still being dispensed to the Company for the study completed by GESI for the use of waste wood, which in this case is rail ties selected by GESI. The total of the grant award under the Biorefining Commercialization and Market Development Program Grant Agreement was for a total cost of $355,000 (CAD), of which $177,000 was being awarded in the first phase.
The grant for the feasibility study, which was for the study of wood waste for the creation of electricity or energy. Using the results of the study, GESI was able to determine the sources of feedstock for a constantly renewable source of wood waste, which was rail ties, where millions of ties per year are removed and replaced. Rail ties have a very large BTU value due to their treatment with creosote, a petroleum-coal based preservative. Ridding of waste ties has always been a challenge for railroads and services.
The feasibility study accomplished and produced the outcome that the ready availability of feedstock made up of rail ties, was available in places where it is transported after removal from tracks. During the process of the feasibility study, Alberta Energy introduced GESI to On-Track Railway Servicing, who was in need of rail tie disposal. Thus the agreement was reached for On-Track to provide the rail ties at a single location, where On-Track also agreed to a land lease with GESI for a plant and operations to occur.
The feasibility study process resulted in the creation of the business plan for GESI utilizing rail ties. The selection of the technology for the use to break down the rail ties is the current phase the company is completing. Plant funding will be based upon the plant operation and not on an equity funding. GESI expects to have between 4-6 bids for plant selection.
About GESI
Green Energy Solution Industries, Inc. 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 offices in Houston, Texas and Alberta, Canada. For More Information on GESI see the web site at
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.
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Violet Shockley
713-444-0924
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Datum: 11.10.2011 - 14:12 Uhr
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