VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 05/29/12 — 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 .
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
615-426-2565