GreenGold (Symbol: GRYE) Built Jatropha Oil Technology R & D Center, Expansion to Africa and USA Imminent
November 04 2008 - 9:18AM
Marketwired
GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) today announced the
completion of its NASD 15c211 and the Oil & Gas Supplementary
Disclosure Statements that are required by OTC PINKS to have the
Symbol: GRYE quotes published under "Limited Information."
GreenGold is pleased to be accepted into the OTC PINKS market and
will continue on its reporting policies on a consistent basis. The
Company is now focused on complying to complete its full financial
reporting requirements and filing of the SEC Form 10K for the 2008
Audited Annual Financial Statements, hoping to move onto a higher
tier in the OTC PINKS Market.
Manolo Tecson, CEO/President of the Company, believes that, "The
OTC PINKS market will provide the Company the same opportunities
and hopes that the transformation of the GreenGold Ray Energies to
be one of the major biofuels, biodiesel oil and alternative energy
producing companies will build our shareholders value now and in
the future."
GreenGold had built and begun developing its Jatropha Oil
Technology Research & Development Center in Cagayan De Oro.
This center is a combination of cultivating jatropha seeds,
propagating seedlings for the company's Jatropha Nursery and
transplanting the sprouted seeds to its expanding Jatropha
Plantations. The GreenGold Technology R & D Center will also
serve as the diagnostics center for all other research studies in
developing new technologies on how to enhance fast growing and high
quality biodiesel oil producing jatropha plants.
In some alternative energy development, GreenGold announced last
month that it was negotiating with a group for a joint venture of
the company's expansion in Africa. The plan for this joint venture
of GreenGold Ray Energies is progressing well and now it's in the
secondary stage of negotiation.
In Texas, GreenGold is currently negotiating for the acquisition
of 55 acres of farm lands. The company will continue to pursue this
USA expansion and the African joint venture under the same terms
and conditions it had developed in Mindanao Island,
Philippines.
A joint venture and working alliance with the African group and
expansion to the USA will mean that GreenGold Ray Energies can
increase its production of the biodiesel oils about two fold or
more, thus the company can respond to the increasing demands for
these kinds of products.
ABOUT THE COMPANY:
GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) is a rapidly
growing biodiesel, green technology and environmental energy
company. The Company had already solidified its position through a
highly successful land acquisition program, acquiring large parcels
of land ideal for the cultivation of the jatropha plant. Jatropha
curcas grows almost anywhere, even on gravelly, sandy and saline
soils. Jatropha oil can be processed to produce a high-quality
biodiesel that can be used in a standard diesel car, while the
residue can also be processed into biomass to power electricity
plants (for more information about the jatropha plant:
http://en.wikipedia.org/wiki/Jatropha_biodiesel).
Forward-Looking Statements
Forward-looking statements in this release include statements
regarding the Company's projections regarding biodiesel, biofuels
other alternative energy explorations and extractions in future
periods. Penny Stocks are highly speculative and may be unsuitable
for all but very aggressive investors. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
CONTACT: Investor Relations HarDeep Phone: USA 1-718-785-9609
ext. 1 e-mail: Email Contact URL: www.greengoldenergies.com
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