CLARK FREEPORT, Philippines, Jan. 7, 2012 /PRNewswire/ -- True Green Energy Group, ISIN number CA8724191066, Cusip number 872419106 trading on Deutsche Boerse AG under the stock symbol TGG.F, has appointed and was accepted by Renell Wertpapierhandelsbank AG (Renell) as its new Listing Bank, specialist and market maker.
In 2010, Renell was the market leader for FQB listings with 65 cases. As a leading broker and Xetra (online trading) specialist, Renell handles 2,500 transactions daily for enterprises like Deutsche Boerse AG, Commerzbank AG, Heidelberger Druckmaschinen AG, Prada and Solar World AG. Renell boasts 15 Xetra market specialists for the 200 order books it manages on the FWB, 30 of which are on the Prime or General Standard. Renell has a global presence with admittance to some 85 stock markets worldwide. In clearance and settlement, Renell works closely with BNP Paribas, the sixth largest bank in the world.
Frankfurter Wertpapierboerse (FWB), also known as the Frankfurt Stock Exchange, is one of the world's largest securities trading centers with a tradition that dates back over 400 years. With a share in turnover of more than 90%, it is the largest of Germany's seven stock exchanges. Deutsche Boerse AG operates the Frankfurt Stock Exchange. FWB is the world's third largest trading exchange, ranked only behind the New York Stock Exchange (NYSE) and NASDAQ.
Frankfurt Stock Exchange is home to public companies from over 80 different countries with companies from North America making up almost 40% of the total listings, including over 3,200 from the US alone. More and more companies from countries like the US, Canada, Australia, the UK, India, and China who choose FWB over their home country's stock exchange.
CJ consortium who is the newest partner with TGEG owns and purchused 25.5% of TRUE GREEN ENERGY GROUP stock for securing a line of credit of one billion two hundred fifty million euro (EURO 1,250,000,000.00).
TGEG is a company that promotes world power and green energy technologies. The company has entered into numerous contractual agreements with local government agencies, both in the Philippines and internationally to contract landfill sites and garbage. TGEG Biomass thermal systems convert garbage to fuel and fuel to electricity.
Thermal treatment plants have the advantage of reducing the amount of waste to about one third and use the energy in the waste to produce, useable syngas, heat and electricity. The residues are inorganic ashes, which can be land filled and will be utilized in the construction of the low cost housing units the consortium is building around the world. TGEG biomass waste gasification technology is based on a moving bed modified gasification technology and reaches significantly higher temperatures than furnaces.
TGEG CEO Renato W. Lee III estimated that by the end of January 2012, "We could have more than 300 contracts to deploy our Bio Green energy systems, so we need more than one contractor to meet the demand." He went on to say, "With our exclusive license to deploy eco friendly low cost housing and with our plans to build the factory here locally, we could also build up to 500,000 homes for families in and around our current landfill sites."
TGEG aims for sustainable development by providing the needs of the current world populations without compromising the future generations. The solutions and technologies allow communities to enhance their sustainability level by turning their waste streams into reusable and valuable resources.
The Republic of the Philippines is located in Southeast Asia and Manila is its capital city. The country comprises 7,107 islands and ranks as the 12th most populous country in the world. However according to the Philippine National Statistics Office only about 10% of sewage in the Philippines is treated or disposed of in an environmentally sound manner. The rest goes back to nature - usually the sea. In this context of poor waste treatment and high population growth, water pollution is a growing problem for the country's groundwater, rivers, lakes, and coastal areas. Polluting industrial material is also found in abandoned mining areas, with mercury pollution affecting water bodies in these areas.
Not only is pollution a problem in the Philippines but also street children in the Philippines is a significant problem. According to the latest report, there are about 2.5 million street children in the Philippines. According to the 2011 report more than 33% of the people in the Philippines are homeless. By the government's own admission, it will require some ten billion dollars of direct investment to create the number of jobs necessary to get this economy growing out of poverty.
TGEG and it's partners commitment to help the impoverished Filipino masses include building and funding of free schools up to the tertiary level to address the growing illiteracy problems and also to provide free clinics and hospitals to improve health care within these satellite cities.
Ronald Flynn went on to say, "The enormous increase in the quantum and diversity of waste materials generated by human activity and their potentially harmful effects on the general environment and public health, have led to an increasing awareness and an urgent need to adopt scientific methods for safe disposal of wastes." While there is an obvious need to minimize the generation of wastes and to reuse and recycle them, the technologies for recovery via MRF systems and gasification systems are far superior then those systems built previously.
TRUE GREEN ENERGY'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 Energy Policy Act of 2005 and the Renewable Energy Law (RA 9513) of the Philippines that confirms energy-from-waste is renewable.
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.
Ronald Flynn +639188880017
PRINCEFLYNN(at)YAHOO(dot)COM
SOURCE True Green Energy Group
