MANILA, Philippines, Oct. 23, 2011 /PRNewswire/ -- True Green Energy Group www.tgeg.asia, ISIN number CA8724191066, Cusip number 872419106 trading on Deutsche Borse AG under the stock symbol TGG.F, confirmed today that the multifaceted agreement between TGEG and CJ consortium finalized the one billion euro (1,000,000,000.00) line of credit to fund TGEG Bio Green power plants.
Under the agreement TGEG will continue to contract and build MRF and Biomass gasification systems for universal deployment throughout the globe. Under the new agreement TGEG will exclusively build a new factory in the Philippines for the construction of eco-friendly low-cost houses in places where TGEG's MRF and Biomass systems will be deployed.
Ronald Flynn, the founder and Chairman of TGEG, said today, "We spent five years working 3 shifts 24 hours a day in building our operation. Today you can find gasification systems and companies all over the globe who turn garbage into power. However, the key to success in this business is much like drilling for oil. You see, there are many ways to get oil out of the ground, but you must first find the oil before you can make money at it. In our business you can buy 101 different types of equipment to turn trash into energy. I admit, 5 years ago it was very tough, but today it is no big secret, everyone has this technology.
TGEG's secret to success in the green energy sector is to procure the landfill sites and create fuel. Once the landfill site is operational TGEG creates fuel better known as (RDF). TGEG then sells the fuel pellets to other companies while deploying the power systems that gasify garbage and make green power on the national grid.
TGEG will make money because it owns the fuel and the landfill sites for twenty-five years. That's why TGEG has been so quiet over the last two years. TGEG has been signing green energy goldmine contracts to own and partnership with local municipalities for a minimum of 25 years per site all over the world.
On November 5th Pioneer shareholders will attend a meeting in Clark Pampanga and will be able to visit the first $25,000,000 (25 million dollar) green energy power plant site in San Fernando Philippines. The TGEG/SBSC (MRF) material recycling facility system, shredder, and pelletizer will make fuel from garbage. This fuel will then be used to create electric energy on the grid by the gasification process.
Additionally by November 10th the city and TGEG will begin to staff the green energy power plant. Once the TGEG Bio systems specialist have been hired and fully trained to run the system, the Bio Green gasification system will be deployed creating electric energy from the (RDF) made from the (MSW) municipal solid waste from the landfill site.
Because of the many land fill sites now owned by TGEG and Spectrum Blue steel both locally and internationally TGEG will also on November 5th announce 3 major biomass gasification companies from America, Korea and china that have awarded TGEG with a license to supply and deploy biomass gasification systems around the world.
TGEG C.E.O. Renato W. Lee III estimated that by January 2012, "We could have more than 300 hundred 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 the landfill sites."
TGEG is very close to the completion of the American depositary receipt. TGEG (ADR) is a negotiable security that represents the underlying securities of a non-U.S. company that trades in the US financial markets. Individual shares of the securities of TGEG foreign company will be represented by an ADR called American depositary shares (ADSs).
TGEG depositary receipts (DRs) will be negotiable securities that represent the underlying securities of our foreign company that will trade in a domestic market. DRs will enable shareholders and domestic investors to buy and sell the securities of TGEG shares, without inconveniences of cross-border and cross-currency transactions.
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.
Ronald Flynn, founder and chairman of the board, said, "With the combination of TGEG viable renewable energy resources and landfill sites, coupled with energy efficiency, conservation and smart grid development for low cost housing we could lead the world in energy independence and a cleaner, more sustainable energy infrastructure — but also to what will soon prove to be the greatest investment opportunity of the 21st Century."
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 Energy Policy Act of 2005 and the Renewable Energy Law (RA 9513) of the Philippines that confirms energy-from-waste is renewable, and to build low cost housing for Pilipino families.
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
SOURCE True Green Energy Group