MANILA, Philippines,
Jan. 14, 2011 /PRNewswire/ -- True
Green Energy Group has confirmed that capital by institutions
Foundations, private equities firms and Banks will take advantage
of the huge income opportunities that will be earned in 2011 from
the deployment of the Biosphere MKV5 and MRF system in San Fernando
Philippines. TGEG Canada Limited is a public company trading on
the Deutsche Borse.
Global announced Dec. 2,
2010 that the first new 6MW per hour
Biosphere system to come off the Bangkok production line had been shipped to
True Green Energy Group Philippines. TGEG Canada Limited is a
public company, "ISIN" Number CA8724191066, CUSIP number 872419106,
trading on the Deutsche Borse AG under stock symbol TGG.
Biosphere systems operate on municipal solid waste, industrial,
commercial or agricultural waste streams to provide environmental
cleanup, renewable electricity, clean water and sanitary health
care. The material recycling facility MRF will sort and pack
plastics, glass cardboard, and aluminum, in addition to taking 5%
of the plastics to make pellets that fuel the Biosphere
gasification process that creates green electricity.
Ronald Flynn the Founder and
C.E.O. said, "TGEG is the new wow factor when it comes to green
energy solutions. By late February a schedule is being made for
dignitaries and government officials from around the world to come
view the system while it is working and producing green electricity
to the grid."
TGEG and Spectrum Blue Steel have started the hiring process for
people who will work at the San Fernando TGEG/SBS Biosphere power
plant. TGEG/SBS will hire more than 300 people on its fist site. To
date more than 500 applications have been processed from Filipinos
who want to work at the San Fernando site. This site is only
one of an estimated 1800 machines that could be deployed in the
Republic of the Philippines.
TGEG 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.
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.
ValuCorp Calculation of Fair Market Value for TGEG 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.
TGEG/SBS will be using the Biosphere MKV5 and Material Recycling
Facility to Reduce Greenhouse Gas Emissions through Land Management
contracts over the next 25 years. Provinces, local governments, and
stakeholders of TGEG/SBS will earn big money because of the
significant reduction in GHG emissions from the green energy
system. Today the price of a carbon credits are approximately
$20 dollars per ton.
True Green Energy Group and 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: Ronald Flynn, princeflynn@yahoo.com, for Spectrum
Blue Steel
SOURCE Spectrum Blue Steel