Green Energy Resources (Pink Sheets: GRGR) has signed a 2 year $55 million supply contract for delivery of woodchips to Turkey. The shipments are scheduled to begin in March, 2010. The Pine Woodchips will be sourced from Virginia, North Carolina and Texas. The contract is the 2nd signed with Turkey in the last 3 months for a combined $72 million in planned exports.
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Green Energy Resources is an environmentally friendly company, sourcing its wood from storm damage, urban wood waste streams and tree farms. The company has no substantial debt. The company continues to move forward with a planned coal acquisition subject to financing. Company executives are in ongoing discussions to finalize a deal by the end of January.
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