GESI Enters Into $45m Funding Phase for Large Scale Renewable Plant Project in Alberta
May 29 2012 - 9:00AM
Marketwired
Green Energy Solution Industries, Inc. (PINKSHEETS:GESI) announced
today the Company is now finalizing the phase for provision of up
to $45 million dollars to fund its renewable energy project in
Alberta Canada. GESI's strategic partner InREFCo is assisting GESI
in the due diligence and compliance period for the provision of all
funds necessary to carry out its project development of a 200 ton
per day energy production facility previously announced. The
funding will be used to deliver a turn-key facility for a large
scale electricity plant or a large scale renewable fuel plant as
well.
The project-based financing is expected to be offered under
project revenue financing terms based upon the projections of
revenue that GESI has been able to show would be produced from the
waste rail tie to energy project. The project financing of up to
$45 million is projected to fully cover the build-out of the waste
to energy plant. The financing phase is one that InREFCo has
provided to numerous companies. At this point the due diligence and
compliance period with final approval and terms of funding is
expected to be closed in approximately two weeks. The funding as
was announced and previously planned is based upon project
revenues, and not upon equity funding from the Company's stock. The
Company's projections of revenue for the 200 ton per day plant
should fully and completely support such commercial funding.
GESI had previously announced that it had entered a strategic
agreement with InREFCo for a technology for converting
waste-to-energy using InREFCo's thermal waste gasification
technology availability. The technology processes includes a 100%
recyclability and zero emission basis.
GESI Green Energy Solution Industries, Inc.
GESI 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 administrative offices in Houston, Texas
and operations in Alberta, Canada. For More Information on GESI see
the website at www.gestechnologies.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.
Contacts: Green Energy Solution Industries, Inc. David Zembeck
615-426-2565greenenergyinvestorrelations@gmail.com
www.gestechnologies.com
General European Strateg... (PK) (USOTC:GESI)
Historical Stock Chart
From Apr 2024 to May 2024
General European Strateg... (PK) (USOTC:GESI)
Historical Stock Chart
From May 2023 to May 2024