MANILA, Philippines, June 22 /PRNewswire/ -- When True Green Energy Group (TGEG) met with investment bankers regarding a public offering it was clear that the business fundamentals of True Green Energy Group could drive the deal. TGEG, the majority shareholder in Spectrum Blue Steel, has continued to hold the company's corporate development while SBS subsidiaries have stayed focused on finalizing municipal government contracts for the deployment of Biosphere Systems both in the Philippines and worldwide.
What Spectrum Blue Steel is doing with garbage, (municipal solid waste) [MSW] is very important to the environment. With the alarming effects of global warming, the demand on energy worldwide also continuously grows. However, we cannot deny the fact that our resources are gradually depleting, which makes it difficult to sustain our need for energy. Today's headlines also make it clear. We need a sustainable, affordable source of energy that protects the environment and meets the needs of nearly 7 billion – and growing – aspiring, remarkable humans. That is why True Green Energy Group (TGEG) takes the initiative to deliver a solution to this problem. TGEG provides clean green energy and carbon offset solutions through the use of biosphere gasification technology. It has been nearly two months since the start of perhaps the single worst ecological disaster in US history, yet a solution continues to elude engineers of BP, the company that owns the damaged oil rig that is gushing over half a million gallons of crude oil per day into the Gulf of Mexico. The oil spill started on April 20 after an oil rig accident caused a rupture in an undersea gusher resulting in a continuous spew into the water. The escaped oil has already covered over 6,500 square kilometres of ocean and has already struck nearby coastlines, killing flora and fauna.
SBS has grown as a green energy company with the help of pioneer shareholders who had the vision and confidence to participate in the development stage and growth of Spectrum Blue Steel and True Green Energy Group. These pioneer shareholders and their cash contributions to the TGEG/SBS venture has enabled our group to almost complete the first $20,000,000 dollar green energy power plant in San Fernando, Pampanga Philippines. Our partners own shares in spectrum blue steel Guernsey which is in the Channel Islands which is not represented in the UK Parliament but each island has its own primary legislature, known as the States of Guernsey and the States of Jersey, with Chief Pleas in Sark and the States of Alderney. Laws passed by the States are given Royal Assent by the Queen in Council, to whom the islands' governments are responsible. Guernsey is structured in exactly the same way as Jersey in terms of its position with the UK and its governmental controls, and it is home to the Channel Island Stock Exchange. The main business sectors in Jersey are insurance, banking, investment funds and trusts, and as with Jersey, there are a number of specific company types that can be formed to benefit from the taxation breaks offered by the jurisdiction.
TGEG is the majority shareholder of SBS and is committed to the company and the deployment of special material recycling facilities in addition to global deployment of biosphere green energy power plant systems. True Green Energy Group and its founder Mr. Ronald Flynn realized early on that every country in the world was extremely receptive to the BDC proprietary technology so he opened a centre in Clark Philippines where interested people could call in and have their questions answered in addition to speaking with partners of Spectrum Blue Steel who could be more specific and engage in more in-depth conversation about the deployment. Because of Flynn's Dynamic results as a sales strategist and a 20 year track record of achievement he clearly demonstrated once again his success by driving the growth through Pioneer shareholders of SBS and TGEG. The facts are simple; TGEG provided visionary sales leadership via pioneer shareholders owning shares in SBS Guernsey, in addition to delivering under their BDC contract key clients on a global scale, while securing government approvals in the Philippines for immediate distribution of Biosphere Green energy systems.
True Green Energy Group is committed to its leadership position as the leading provider of clean green energy and carbon offset solutions. The company has five 5 primary business models: residential electricity, commercial electricity, cleaning of landfills, water desalinization, Bi-products from garbage, and carbon offsets. This business strategy is designed to keep us in the forefront of the sustainability industry, While Spectrum Blue Steel has focused on countries that have severe municipal solid waste problems where they could finalize government contracts and deploy the systems.
Over the last 4 months TGEG has been conducting organizational meetings, completing registrations statements, preparing legal documentation to go public in Germany. Moreover all the necessary bank accounts in the Philippines have been opened as well as pulling together a powerhouse marketing team that will run the road show presentations worldwide. TGEG will also reveal for the first time the legally prepared prospectuses for site specific locations in the Philippines and around the world.
True Green Energy Group is expecting to be trading before the end of June. Ronald Flynn the founder explained," we have been told by our investment bankers and market makers that they feel the demand for our IPO looks strong. Our company engaged ValuCorp operated by Michael Gilburd, ASA, MST, CPA Accredited Senior Appraiser and trusted member of the American Society of Appraisers 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. "Pricing an IPO is always a function of the valuation," says 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.
SBS/TGEG board of directors and management staff have used ValuCorp's research analysts for budgeting for 2010 and projecting for the next three years. We have also fulfilled the due diligence requirement to designate responsible parties within the organization to provide appropriate investor relations as well as our new investors login page that keeps everything we do transparent and easy to understand. We advise all investors to create a free user name and password by logging in to our web site. You can go to our web site at www.tgeg.asia to study and explore the first ever Biosphere MKV5 Green energy power plant station in San Fernando Philippines.
TGEG will soon be a public company trading on the German stock exchange and the pioneer partners, and shareholders of Spectrum Blue steel will receive free trading UN- restricted stock for their participation of the Biosphere green energy project. The TGEG new listing in Germany will own the majority of all Spectrum Blue Steel Projects and also will enjoy the benefits of being a Pilipino corporation with offshore entities in Canada, London, Romania, Brazil, Sweden, and in Guernsey.
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 (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 person Ronald Flynn
SOURCE Spectrum Blue Steel