Vancouver, British Columbia – April 27, 2018 – Green 2 Blue Energy Corp. (CSE: GTBE, OTCQB: GTGEF, FWB: 1NZ.F) (“G2BE” or the “Company“) wishes to announce that further to it’s News Release dated April 19, 2018 announcing recent equipment purchases and facility upgrades, the company is also focusing on operational efficiencies to achieve maximum production and cost effectiveness.
The company, in cooperation with industry design specialists is in the process of creating a technical and organizational plan for not only ongoing pellet production expansion but the addition of the Company’s planned business objective to integrate a biomass gasification co-generation plant.
As a result of preliminary analysis, the company will have 2 independent production lines. The new fully automated production line will have initial production capacity of 1200 tonnes per month and will be extended by the end of 2018 to the level of 3600 tonnes of production per month. The current production line will maintain its monthly capacity at the 1800 tonnes per month level. As a result of this organizational change, the planned total production capacity of the plant in Poland, by the end of 2018, will reach 5,400 tons per month or 64,800 tons of pellets per year.
The President, Slawomir Smulewicz stated, “I am extremely satisfied with the proposed plan provided by our advisors. Their knowledge and experience will allow Green 2 Blue Energy to optimize the use of our financial resources and operational facilities. The proposed integration of a biomass gasification co-generation plant will dramatically reduce operating costs, as the gasification system not only generates electricity for our own purposes but the exhaust heat from the generators can be used to dry our raw feedstock delivered to our facility, making it production ready.”
G2BE is a renewable energy company focused on residential and commercial wood pellet production and the implementation of biomass gasification technology to generate combined heat and power. G2BE’s wood pellets are sold to retail outlets and power producers throughout Europe, including the United Kingdom, Germany, Poland, Italy and Denmark.
On Behalf of the Board of Directors
Chief Executive Officer and Director
For more information, please contact:
Director, Corporate Communications
Telephone: (604) 539-5023
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein.
This news release contains “forward-looking information” within the meaning of applicable securities laws. The Company has provided the forward-looking information, including, without limitation, statements relating to the use of proceeds of the Offering, in reliance on assumptions that it believes are reasonable at this time. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, changes in general economic, market, or business conditions, and those risks set out in the Company’s public documents filed on SEDAR. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.