GreenGold Ray Energies Forecast $356 Million in Bio-Diesel Revenue
November 10 2010 - 7:00AM
Marketwired
GreenGold Ray Energies (PINKSHEETS: GRYE) announced today its
revenue forecast for the next 5 years' cumulative sales of
bio-diesel based on Jatropha.
According to management, based on current Jatropha bio-diesel
prices and forecasted prices over the next five years, the
company's revenue should reach $178 million by year five, whereby a
total cumulative sales of $356 million are expected, making the
company one of the leaders in bio-diesel production.
"Our forecasts are very conservative and if we continue to
increase our harvest and plantation acreages, we could easily
surpass those figures," said Manolo Tecson, CEO of GreenGold Ray
Energies Inc. "The price for bio-diesel fuel will only increase due
to the demand by world markets and again this will contribute the
creation of a sustainable business for our shareholder for many
years to come," further added Mr. Tecson.
About GreenGold Ray Energies
GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) is a rapidly
growing biodiesel, green technology, environmentally-friendly and
alternative-renewable energy company. The Company has already
solidified its position through a highly successful land
acquisition program, acquiring large parcels of land through
working alliances and joint venture partnership with landowners and
growers, ideal for the cultivation of the jatropha curcas plant.
Jatropha curcas grows almost anywhere, even on gravelly, sandy and
saline soils. Jatropha oil can be processed to produce a
high-quality biodiesel that can be used in a standard diesel car,
while the residue can also be processed into biomass to power
electricity plants.
Forward-Looking Statements Forward-looking
statements in this release include statements regarding the
Company's projections regarding biodiesel, biofuels other
alternative energy explorations and extractions in future periods.
Penny Stocks are highly speculative and may be unsuitable for all
but very aggressive investors. The Company disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
CONTACT: Investor Relations: Rainmaker Venture Capital
Inc
www.otcmarkets.com/service-provider?id=2962&b=n&filterOn=2
Phone: (888) 308-2638 Email: Email Contact URL:
www.greengoldenergies.com
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