PR Newswire

Green Energy Renewable Solutions Reports on Fire at Sanders Factory and Plans for Highland Park Recycling Operations


Source: PR Newswire

--Does Not Expect Financial Impact--

LAS VEGAS, July 19, 2012 /PR Newswire/ -- Green Energy Renewable Solutions, Inc. (OTCBB: EWRL) a developer and operator of municipal solid waste and construction and demolition waste processing and recycling facilities,  provides the following information on the recent fire which occurred at the property located adjacent to its planned Highland Park, Michigan facility.

A fire at the former Sanders factory building at 100 Oakman Blvd., Highland, Michigan, began on July 14, 2012.  This is the location of the property where the Company had purchased a 5-acre parcel in November 2011, and subsequently contracted to purchase the adjacent parcels of land (approximately 10 acres combined).  The two buildings located on this parcel are at 100 Oakman, the former Sanders Factory building of approximately 450,000 square feet, and a 25,000 square foot maintenance building on the conjoined 70 Oakman Blvd. parcel.

The combined 15-acre tract was secured for purpose of developing a state-of-the-art Construction & Demolition Debris ('C&D') recycling plant and as a future site for a waste-to-energy plant that would use waste wood and other materials as fuel to produce renewable fuels and electricity.  Strategically located, the property is attractive to locally contracted haulers and is already zoned appropriately for acceptance and processing of C&D waste. 

Green Energy had planned to close the acquisition of the 70 and 100 Oakman properties within the next 30 days, pending completion of an environmental study.  Pending further information on the investigation of the fire and determination of any material cost increases due to environmental issues caused by the fire, the Company may exercise its option to cancel the purchase contract for these properties.

Joe DuRant, CEO of Green Energy, stated, 'While the fire was an unfortunate event, it is important to realize that Green Energy does not currently own nor have financial investment in the damaged building.  We are hopeful that the investigation of the fire will conclude that no material environmental issues have occurred, and that we can proceed with the planned redevelopment of this site.  In the event that the pending fire investigation results in material delays, or conditions make this location untenable, we will plan to seek an acceptable alternate site in Highland Park.  I have spoken to State Representative Johnson and Highland Park Mayor Windom, and affirmed our commitment to develop this project.  Green Energy will continue to work with the city to bring state-of-the-art recycling facilities and waste-to-energy conversion technologies to the Highland Park Community.'

The Company expects to meet with the Mayor, city and county officials in Highland Park next week to formalize an action plan to proceed with the demolition and begin the permitting process for the recycling operations.

The Company's proposed development plan for the Sanders factory building calls for demolishing the manufacturing space while preserving and restoring the historic front portion of the building for use as its corporate headquarters.  The restoration plan includes conversion of the front space for corporate offices, meeting and training facilities, as well as public meeting space that will be available for local community use.  

The space created by demolition of the factory portion of the building would serve as the location for a new structure to house the C&D recycling facility and waste-to-energy plant.  Design of the planned new building will allow all processing of materials to be performed under one roof, and features will include air handling and noise abatement equipment that will keep noise and potential dust from impacting the surrounding neighborhood.  Exterior landscaping plans call for a berm around the entire property that will provide additional noise damping effects and create a visually appealing green space.

According to the plan, the smaller building, 70 Oakman, would be used as a short-term processing facility for processing recycle materials generated from the demolition.  While demolition is in progress the company anticipates it will file for permits to utilize that building as a temporary space to process intake from new materials until the new plant building is completed.  When the new space is permitted for operations the smaller 25,000 square foot building will be demolished.   

Pending receipt of further information the Company plans to proceed immediately to complete environmental surveys.  Upon conclusion, assuming no material environmental issues, final architectural and landscape plans will be produced and the site plan will be filed with the City and County for review.  Once permits are approved, Green Energy plans to process up to 1,000 tons of C&D per day at the site. The post-processing recovered materials will be sold for reuse as recycled materials, processed for compost, mulch, renewable green fuels and electricity.  The Company expects to reduce landfill impact by 85% or more using its recovery and conversion strategies.    

About Green Energy Renewable Solutions, Inc.

Green Energy Renewable Solutions is a developer and operator of municipal solid waste and construction and demolition waste processing and recycling facilities.  The Company operates with long-term supply agreements to process waste materials into valuable recyclables and reduce waste volume going into landfills by up to 85%.  Green Energy Renewable Solutions has developed a strategic plan to create sustainable renewable energy with waste-to-energy power plants and the production of waste derived fuels.

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

SOURCE Green Energy Renewable Solutions, Inc.

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