GESI Is Awarded Part One, $177,000, of Grant From Alberta Energy
October 11 2011 - 4:12PM
Marketwired
(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 www.gesindustries.com
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.
Contact: Violet Shockley 713-444-0924 violetms01@yahoo.com