GESI Enters Second Phase With Two $45M Funders for 200 Ton Per Day Waste Energy Project
08 Giugno 2012 - 3:00PM
Marketwired
Green Energy Solution Industries, Inc. (PINKSHEETS:GESI) announces
the Company has progressed into due diligence phases with two
introduced funding sources for the provision of the previously
announced $45 million dollars being sought for the build out the
200 ton per day energy production facility from waste rail ties in
Alberta, Canada. InREFCo has made progress for GESI by not only
introducing the two financing entities that have entered into
negotiated terms for the project partnership, but other alternative
energy investment sources who are seeking to back the project.
InREFCo's first two funders are now in the due diligence phase for
the project financing over long term projected revenue streams. The
funding through all the introduced firms has been based on 5 to 10
year project pro formas where the energy revenues will pay for
build out expenses from expected conservative existing energy
revenue pricing. The build out of the facility will be done in
phases including site engineering and construction. GESI and
InREFCo are positive as to the funding availability under favorable
terms, given the revenue projections of the 200 ton per day project
utilizing waste rail ties as the energy source.
InREFCo has taken the Company from introduction to financing
sources, and has now brought GESI to the due diligence phase for
funding of a plant build out. The negotiated funding sources
brought to GESI by InREFCo, will avoid underwriting issues, and be
more flexible than traditional energy based power facility
financing, with payoffs based on expected larger energy rates for
the electrical or fuel market prices available given the global and
North American economies. InREFCo has a solid history of funding
successes, that enhances GESI's ability to finalize and carry out
the funding of the waste rail tie to energy project. The Company's
projections of revenue for the 200 ton per day plant fully and
completely support such commercial financial pro formas of funding
payment schedules.
GESI had previously announced that InREFCo was bringing the
Company into the financing of the alternative energy plant. InREFCo
has worked diligently with GESI, through CEO Gordon MacKay through
the process, and expect a series of final terms to choose from for
the backing of the project. As well InREFCo has made numerous
introductions for the technology selection and now GESI expects
that given the momentum of negotiations, that a final selection for
financing could be within thirty to forty five days.
GESI Green Energy Solution Industries, Inc.
GESI is a project developer for renewable energy projects in
Canada. Utilizing in-depth due diligence, GESI has developed
business plans, contracts and agreements with resource providers,
land owners, waste sources, technology providers, and government
entities for the placement of renewable energy projects. GESI is
now a public company with administrative offices in Houston, Texas
and operations in Alberta, Canada. For More Information on GESI see
the web site at www.gestechnologies.com.
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
"believes", "expects", "potential", "plans", "projected",
"suggests", "may", "should", "could", "intends", or similar
expressions. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results to be materially different from any future results,
performance or achievements expressed or implied by such
statements. In particular, management's expectations could be
affected by, among other things, uncertainties relating to our
success in completing acquisitions, financing our operations,
entering into strategic partnerships, engaging management and other
matters disclosed by us in our public filings from time to time.
Forward-looking statements speak only as to the date they are made.
The Company does not undertake to update forward-looking statements
to reflect circumstances or events that occur after the date the
forward-looking statements are made.
Contacts: Green Energy Solution Industries, Inc. David Zembeck
615-426-2565greenenergyinvestorrelations@gmail.com
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