ATLANTA, GA - GreenWorld's first US Wood Pellet Facility is based in Laurinburg, NC. The plant's current capacity is 120,000 tons of wood pellets per year. With an additional investment of $5.5 million, the capacity will be increased to 240,000 tons per year, with resultant expected revenue of $40,320,000. The plant has rail access on site and is roughly 100 miles from the port of Wilmington, NC. These logistical benefits create additional value for GreenWorld's international export goals. The export output will be exported in bulk or as bagged product. GreenWorld will maintain the current domestic contracts of the facility.
GreenWorld is working with local and regional feedstock suppliers throughout the Southeast to provide contracts for the various types of wood necessary to fulfil the domestic as well as international off take contracts. This blend of local and regional sales avoids any production lulls that may arise from the exclusive use of small feedstock providers.
European countries are gearing up to meet compulsory renewable energy demands of 20 per cent by 2020. To take advantage of this growing market, GreenWorld will be exporting its product to Europe where subsidies have created an arbitrage opportunity for wood pellets economically produced in the rich wood basket of the South-eastern United States.
GreenWorld is contracting with a major European off take partner for the sale and marketing of residential and industrial pellets. GreenWorld can tailor the pellet production process to meet the specifics necessary for any contract at any time.
GreenWorld will maintain the contracts that the facility currently has and pellets that are produced in the Laurinburg facility are able to meet the needs of the lucrative domestic, seasonal market.
GreenWorld's management team will maintain the plant, its operations, and the quality of the pellets in order to create the most consistent, valuable product possible. GreenWorld is in the process of choosing its team for both the upgrade as well as the management of the existing facility.
GreenWorld Development, Inc. is listed on the US OTC Bulletin Board /quotes/zigman/607496/quotes/nls/grew GREW 0.00% . The company is dedicated to develop innovative, competitive und sustainable products for efficiency goods and services and to support the "Smart Green Economy."
Forward Looking Statement -- This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
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