LONDON, June 30 /PRNewswire-FirstCall/ -- VEGA PROMOTIONAL SYSTEMS, INC. (Pink Sheets: VGPR) today announced it has chosen Chattanooga, TN based consulting firm, Tennessee Power Company, Inc. to assist the Company in building a biomass production facility in Georgia.
Vega recently announced its intention to build a biomass plant in Georgia to take advantage of the abundance of biomass materials in the State's Bioenergy Corridor. Georgia ranks third in the nation as a potential source of renewable energy. Approximately 50 million tons of Georgia's own timber ends up in the State's wood-products manufacturing plants every year and the industry returns nearly half of it in the form of primary mill wood debris.
Vega's Business Plan calls for manufacturing facilities to be constructed in various locations around the world. The Georgia plant would be the Company's first in the United States and would serve as a model facility for other plants in the U.S.
Biomass or biofuel is material derived from recently living organisms. This includes plants, animals and their bi-products. For example, manure, garden waste and crop residues are all sources of biomass. It is a renewable energy source based on the carbon cycle, unlike other natural resources such as petroleum, coal, and nuclear fuels. The use of biomass fuels can therefore contribute to waste management as well as fuel security and help to prevent global warming
The Company markets various products including energy efficient pellet fuel made from organic waste bi-products using unique and innovative ideas combined with proven technology. The Company's current expansion includes building manufacturing plants in various international locations that will produce biomass products and bio-diesel products for power generation units. It is estimated that in the next five years the biomass industry will become a $20 billion industry.
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
DATASOURCE: Vega Promotional Systems, Inc.
|SOURCE Vega Promotional Systems, Inc.|
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