ATLANTA — GreenWorld Development, Inc., the American-Irish "Waste 2 Energy" operator, on April 30, 2012, signed a binding framework agreement to acquire Natures Earth LLC, a Wood Pellet manufacturing facility in North Carolina (a major source of alternative energy for industrial and domestic use). The acquisition cost is $16.5M USD and the capacity of the facility is 120,000 MT of wood pellets, capable of generating in excess of $20M USD in annual revenues.
It is the first cornerstone for the company projects expansion plan of Build -- Own -- Operate Waste 2 Energy plants in the US and Europe.
GreenWorld plans to double the production capacity within one year and is currently in advanced discussions with a bankable long term production offtaker and feed stock provider.
The company intends to appoint Jason Kessler of Kesco and Bliss Industries LLC as the project manager, post-acquisition. Mr. Kessler has many years of leading expertise in this industry. The acquisition agreement includes the Equine Pine & Freedom Fuel brands owned by Natures Earth LLC, whose sister company sold their brand Feeline earlier this year to Church & Dwight.
GreenWorld is in the process of raising capital for the acquisition and expansion program via a long term financing bond from a US prime financial institution.
GreenWorld Development, Inc. is listed on the US OTC Bulletin Board (GREW). The company is dedicated to develop innovative, competitive and sustainable products for efficiency goods and services and to support the "Smart Green Economy".
SOURCE: GreenWorld Development, Inc.
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