MANILA, Philippines, Jan. 14, 2011 /PRNewswire/ -- True Green Energy Group has confirmed that capital by institutions Foundations, private equities firms and Banks will take advantage of the huge income opportunities that will be earned in 2011 from the deployment of the Biosphere MKV5 and MRF system in San Fernando Philippines. TGEG Canada Limited is a public company trading on the Deutsche Borse.
Global announced Dec. 2, 2010 that the first new 6MW per hour Biosphere system to come off the Bangkok production line had been shipped to True Green Energy Group Philippines. TGEG Canada Limited is a public company, "ISIN" Number CA8724191066, CUSIP number 872419106, trading on the Deutsche Borse AG under stock symbol TGG.
Biosphere systems operate on municipal solid waste, industrial, commercial or agricultural waste streams to provide environmental cleanup, renewable electricity, clean water and sanitary health care. The material recycling facility MRF will sort and pack plastics, glass cardboard, and aluminum, in addition to taking 5% of the plastics to make pellets that fuel the Biosphere gasification process that creates green electricity.
Ronald Flynn the Founder and C.E.O. said, "TGEG is the new wow factor when it comes to green energy solutions. By late February a schedule is being made for dignitaries and government officials from around the world to come view the system while it is working and producing green electricity to the grid."
TGEG and Spectrum Blue Steel have started the hiring process for people who will work at the San Fernando TGEG/SBS Biosphere power plant. TGEG/SBS will hire more than 300 people on its fist site. To date more than 500 applications have been processed from Filipinos who want to work at the San Fernando site. This site is only one of an estimated 1800 machines that could be deployed in the Republic of the Philippines.
TGEG engaged ValuCorp operated by Michael Gilburd, ASA, MST,CPA Accredited Senior Appraiser and trusted member of the American Society of Appraisers http://www.valuecorp.com/ to evaluate our company and to provide guidance to the Board and its advisors as to the fair market value of our enterprise. The preliminary draft of the valuation report is based primarily of our projected future earnings, the probability of attaining those earnings, the risk factors involved, and valuations for comparable companies, among other factors.
Michael Gilburd, President of ValuCorp, who Prior to ValuCorp, was the Managing Director of corporate finance for two American Express companies, where he assisted in raising funds for various transactions, including acquisitions and public offerings, and previously, he was the National Director of Corporate Finance for BDO Seidman, one of the nation's largest accounting and consulting firms, and a member of their International Corporate Finance Committee. TGEG chose ValuCorp because of their impeccable track record, backgrounds and experience.
ValuCorp Calculation of Fair Market Value for TGEG was expresses as a single dollar amount of $5,235,215,734 and was based upon all the information provided by True Green Energy Group and Spectrum Blue Steel Corporation as well as other sources of information by Voga Brazil that ValuCorp deemed to be an appropriate analysis. The revenue was based on the current sites in the Philippines such as San Fernando, Santa Rosa, Naga, Dumagueta, Tanjay, and Bayawan City. In addition to cities in Brazil such as Goiania, Goias, Cristalina Goias, Rio de Janeiro, Palmas and Tocantins.
TGEG/SBS will be using the Biosphere MKV5 and Material Recycling Facility to Reduce Greenhouse Gas Emissions through Land Management contracts over the next 25 years. Provinces, local governments, and stakeholders of TGEG/SBS will earn big money because of the significant reduction in GHG emissions from the green energy system. Today the price of a carbon credits are approximately $20 dollars per ton.
True Green Energy Group and Spectrum Blue Steel's strategy is to "de-carbonize" the electric power generation industry by shifting to non-fossil fuel-based energy sources, specifically energy-from-waste. This follows the American Energy Policy Act of 2005 which confirmed energy-from-waste is renewable, and the Philippine Renewable Energy Law (RA 9513) of the Philippines. Spectrum is a domestic corporation duly registered under the laws of the Philippines and holds a license to the Biosphere Technology from Global Environmental Energy Corporation (BULLETIN BOARD: GEECF) . Global is a fully integrated energy company whose interests include electrical power generation, oil and gas exploration and production, clean coal and waste management technologies.
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections.
CONTACT: Ronald Flynn, princeflynn@yahoo.com, for Spectrum Blue Steel
Spectrum Blue Steel
CONTACT: Ronald Flynn, princeflynn@yahoo.com, for Spectrum Blue Steel
