GESI Enters Second Phase With Two $45M Funders for 200 Ton Per Day Waste Energy Project
FOR: GREEN ENERGY SOLUTION INDUSTRIES, INC.
JUN 8, 2012 - 09:00 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2012) - 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.
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Green Energy Solution Industries, Inc.