MANILA, Philippines, Oct. 22 /PRNewswire/ -- The founder of True Green Energy Group, Mr. Ronald Shane Flynn announced today, that it is now a publicly traded company on the Frankfurt stock exchange in Germany. Its shares will be quoted on the FSE. The trading symbol for the company is TGG and the ISIN number is CA8724191066 and can be viewed by clicking the following link as listed on the Deutsche Borse website of the FSE.
Below is the link to view the transparency and market segment of TGEG.
True Green Energy Group creates sustainable energy such that it meets the needs of the present without compromising the ability of future generations to meet their needs. Sustainable energy sources are regarded as renewable sources, such in the case of True Green Energy group as it uses Municipal Solid Waste to create clean green energy. The system being used is Global Environmental Energy Corp's, MKV5 Biosphere to which TGEG holds a license awarded by Global Environmental Energy Corp., (DEUTSCHE BORSE:GLI.F, and OTC Bulletin Board: GEECF, www.geecf.ru.
TGEG has a contract to purchase Biospheres from the Biosphere Development Corporation and will pay a operating royalty and profit share to Global for each of its deployed Biosphere Systems. This system will create clean green energy with no harmful emissions, in addition to efficiently recycling garbage of any kind except nuclear. Green energy is produced by shredding it and then having it pelletized. Once the pellets have been made you simply feed the pellets into the Biosphere chamber which generates clean green electricity. A fuller picture of this can be seen by simply going to the True Green Energy groups web site at www.tgeg.asia.
TGEG is a promoter of world power and green energy technologies and is the majority share holder of Spectrum Blue Steel Corporation. TGEG realized early on that with so many new contracts being signed around the world that it would need to go public in order to raise the capital needed to meet its current demands to deploy the Biosphere MKV5 and the Material Recycling facility.
The present cost to deploy the entire system is "$20,000,000" Twenty Million United States Dollars. TGEG/SBS have the potential to deploy more than 1,800 Biosphere plants in the Philippines and Brazil. Recently True Green Energy Group and its partners Voga Brazil www.vogabrasil.com.br flew to brazil to meet with many government officials. The outcome of these meeting was very successful as MOA have been signed and full contracts to sell and deploy are being drawn up.
The Manufacture and patent holder of the Biosphere MKV5 is the Biosphere Development Corporation who has already deployed the system in many countries to date. The facts behind the first Biosphere to be deployed in San Fernando Philippines is overwhelming and very electrifying because of all its governmental and municipal contracts with the cities and local Mayors.
According to the 2000 census bureau report in San Fernando Pampanga Philippines, it stipulates that it has a population of 221,857 people in 43,649 households. And that it is located 67 kilometers north of Manila, 50 kilometers east of Subic Bay in the Zambales province, and 16 kilometers south of Clark Field in Angeles City.
The city is positioned at the crossroads of Central Luzon. At present San Fernando is the financial, industrial and political centre of the Philippines and according to the latest census report of 2008, San Fernando Pampanga now has a population of 2645395 people in 477819 households. The census also stipulated that the average household electric bill was $900 dollars per year.
True green energy group has a contract with the city of San Fernando Pampanga to provide clean green electricity to the grid. Under the current contract TGEG will receive 80% of the revenue while the city of San Fernando Pampanga will receive 20%. TGEG/SBS have tied up the rights with the city of San Fernando landfill site for the next twenty five years and will recycle all the garbage in the city in addition to supplying electricity on the power grid. subsequent to going public. TGEG asked for an outside evaluation firm named ValuCorp to give an evaluation of the company and what it was worth as well as the combined historical and projected financial statements along with the Actual December 31, 2009 tax return, as estimated through December 31, 2010 as projected through December 31, 2014, and the calculation of fair market value as of September 28, 2010.
ValuCorp Calculation of Fair Market Value 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.
True Green Energy Group, Spectrum Blue Steel and Voga Brazil will be signing more than 13 international contracts next month with government officials of Brazil for the immediate deployment of the MRF and Biosphere MKV5. Thiago Marques Dos Reis, a director of Voga Brazil stated, "that he believed that Voga would sign a minimum of 42 biosphere contracts by november 1, 2010".
TGEG is a Canadian Corporation with offices in the Philippines, Sweden, Seychelles, Hong Kong, London and Brazil. The corporate headquarters is in the Philippines is located in Makati and Clark Pampanga.
Dr. Reza Arabpour who holds a Phd in economics and management stated, "That as a financial advisor for TGEG and a man who has lived in the philippines for more than 30 years, he believed the report by Michael Gilburd was fair and accurate, However from what has recently transpired in brazil and of course the new listing on the FSE the value should be much higher". Michael Gilburd holds degrees as a ASA,MST,CPA and as a Accredited Senior Appraiser and trusted member of the American Society of Appraisers www.valucorp.com and has sent in his resume to TGEG as a potential canadate for C.F.O.
TGEG has used the "Electric Power Industry Reform Act of 2001, Republic Act No. 9136 to build a new green energy power corporation. The law (RA NO. 9136) mandates the restructuring of the electric power sector and the privatization of the National Power Corporation.
This "Green Energy Option" will empower end-users to choose renewable energy in meeting their energy requirements on the grid. Furthermore Local governments and provinces have become partners with Spectrum Blue Steel in order to expedite the Biosphere deployment in 2010. The "National Transmission Corporation" (TRANSCO) pursuant to Republic Act No. 9136 will be responsible for the planning, construction, and centralized operation and maintenance of all the high voltage transmission facilities, including grid interconnection and ancillary services.
To accelerate the development of Spectrum Blue Steel's emerging renewable energy resource, a feed-in tariff system for electricity produced from biomass was mandated. Towards this end, the ERC in consultation with the National Renewable Energy Board (NREB) created under Section 27 of the Act formulated and promulgated a feed-in tariff system. SBS/TGEG now have Priority connections to the grid for electricity generated from the emerging renewable energy resource allowing the Biosphere power plants and certain territories and cities to be owned by Spectrum Blue Steel and True Green Energy Group for the next 25 years, with the right to indefinitely renew the green energy agreements.
The truth is most responsible people are going green in an all out effort to save the planet. Imagine the British petroleum oil spill. The Gulf area will have to live with oil long after the beaches have been cleaned. Some residents are outraged that BP has been dumping oily waste in landfills in their areas.
After BP crews ladle up the oil off Gulf beaches, the waste is transported to Mississippi's Pecan Grove landfill. Even workers' protective suits, gloves, shovels, rakes and anything else that touches oil is buried there.
The Board of Supervisors in Harrison, Mississippi passed a declaration saying they don't want any BP waste in their community but there is little they can do. BP has cut deals with Waste Management, the owners of the landfill. They answer to the state instead of local county government.
"We don't want it," President of the Board of Supervisors Connie Rocko told CNN's Randi Kaye. "It is valuable landfill space and hazardous to our citizens. Take your waste somewhere else or please find an alternative."
The fact is True green energy group is the perfect alternative and our company will be glad to take all the hazardous waste from the BP and properly dispose of it by using the Biosphere gasification process.
The Biosphere system can properly recycle and get rid of garbage with zero emission like Municipal Solid Waste, Automobile and Truck Tires, Petroleum and Polychlorinated, Biphenyl (PCB) Waste, Agricultural Surpluses, animal waste, or Animal Parts Waste and effluents, in addition to Industrial Waste, Sour or Wet Natural Gas without refining, Soil-contaminated Waste, Land Fill Reclamation, Traditional Fossil Fuels, including sulphur, contaminated coal and untreated Shale Oil, Petroleum drilling waste such as oil-contaminated Top Soil, Drill Cuttings and Oil-contaminated Ground Water from the ocean.
TGEG/SBS 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 (OTC 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
Spectrum Blue Steel Corporation
+639 1 8888 0017
SOURCE Spectrum Blue Steel Corporation