Georgia Facility to Recycle Wood Waste and Generate Energy from Waste Biomass
ATLANTA, Feb. 5 /PRNewswire-FirstCall/ -- Global Energy Systems, a subsidiary of the diversified renewable energy company, Global Energy Holdings Group, Inc. (NYSE Alternext US: GNH), announced the execution of a definitive agreement to acquire Cherokee County, GA based wood fuel and landscape materials processor, WoodTech, LLC, and affiliated entities. Closing of the transaction is expected to occur in mid-February, 2009.
"We are excited about our affiliation with Global Energy," says Jimmy Bobo of WoodTech, who with his brother, David, has spent the last ten years building the biomass fuel and landscape materials business. "We have been looking for the right company with the right people and expertise to partner with us to develop our business into a state-of-the-art, world-class biomass business - we found that partner in Global Energy."
Currently, the Canton-based company has equipment capacity in operation to produce over 900,000 tons of biomass per year and has the planned expansion in Ball Ground, GA to be completed later this year. At completion, the facility will result in one of Georgia's largest independent wood biomass products producers with capacity to produce over 1,225,000 tons of biomass products per year. The facility will have the flexibility to produce multiple products including mulch, wood chips, potting soil, bedding material and wood fuel, depending on market demands.
Adjacent to the biomass recycling center, Global Energy plans to install a wood waste gasifier capable of converting up to 20% of the facility's biomass into syngas. This syngas will be used to fuel a steam boiler that will power a steam turbine generator. Fully operational, the biomass power plant will generate approximately 20MW of "green" electricity for sale to a local utility. Global Energy expects that the facility
|SOURCE Global Energy Holdings Group, Inc.|
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