Green Energy Resources, Inc. (OTC.PK: NYIL) a bio-energy supply company that sells biomass wood products, announces it has Agreed to merge with Italiana Commissionaria Legnami ( ICL ) of Monza, Italy. Terms of the merger have not been disclosed. ICL is the largest importer of woodfiber fuel in Italy. In 2003 ICL supplied 80.000 tons of woodchips per month to the Italian market, and forecasts 100% increase for 2004.
The proposed merger creates a vertical market corporation in the biomasse/ renewable energy industry, from procurement, to transportation, to power generation plants.
Together the companies are one of the largest internationational biomass supply companys in the world, with a capacity of well over a million tons annually.
All woodfiberfuels are within strict compliance of the UTCS environmental certification system, and the Kyoto protocol. The merger includes Green Certificate contracts that will generate approximately US$180 million dollars guarenteed in gross revenues annually, through 2012 (EU. CIP 6).
Green Energy Resources is dedicated to preserving world forests. The company supplies supplies wastewood from storm damage, maintainance (eg. land clearing for highways and construction)and wood otherwise destined for landfills. It operates under the UTCS (urban tree certification system), an environmental certification system that includes chain of custody documentation.
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