Market Movers
Universal Bioenergy Announces NDR Energy Group Signs Agreement With Major U.S. Energy Consortium to Provide Natural Gas to 46 Power Companies
IRVINE, Calif., Dec 20, 2011 (LevelStock.com News) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, announced that its subsidiary NDR Energy Group signed an agreement to supply natural gas to one of the largest energy authority consortiums in the U.S., with 46 public power companies members.
This partnership brings Universal and NDR Energy together with the consortiums' 46 public power utilities members and partners across the nation, which represent more than 25,000 MW of combined generation assets with all fuel types. The energy consortium with its headquarters in Florida, was organized in 1997 by three of its seven current owners to consolidate the purchase of energy supplies for its 46 power company members, enhance the use of its owners' electric generating assets in the wholesale electric power market, optimize power purchases from the wholesale market for its owners, and create economies of scale and reduced operating costs with respect to energy trading and marketing. In 2010, the consortium purchased over $824 million in energy for its members.
Universal's President Vince M. Guest states, "We are really excited about the signing of this agreement with the energy consortium to sell them natural gas. It's a major breakthrough for us and a great way to close out the year. This will allow us to sell gas to another 46 public power companies through this consortium, along with our current 27 public utility power customers. That effectively gives us a combined 73 public power company customers and represents a 270% percent increase in our customer base. Ken Harris and his team at NDR Energy Group spent many months cultivating this relationship and closing this deal. The agreement limits us from disclosing the consortiums' name and some details, however this agreement to provide its 46 public power utilities with natural gas, could potentially generate millions of dollars in additional revenue for us due to their consolidated buying power."
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. To learn more about Universal Bioenergy Inc., please refer to the following analyst coverage from RaincoIndustries.com. (http://www.raincoindustries.com/index.php?option=com_content&view=article&id=109&Itemid=167)
The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
About LevelStock.com
We are an investor community and investors relations website specializing in emerging growth stocks in today's Hot Sectors and providing a platform of services for SmallCap, MicroCap, NanoCap Companies.
We encourage everyone to join our social media sites:
Free Subscription For Our Newsletters: http://www.levelstock.com/
FaceBook: https://www.facebook.com/LSCFanPage
Twitter: http://twitter.com/levelstock
LevelStock.com is not a registered investment advisor or broker-dealer. The information here is believed to be reliable, but not guaranteed to be accurate by LevelStock.com Please be advised that the information contained may or may not be complete and is solely for informational purposes only. Please read our full disclaimer for complete risks and disclosures http://www.levelstock.com/news.php?viewStory=19
|
Email
Print
Digg
Del.icio.us
Reddit
Slashdot
Technorati
Newsvine
StumbleUpon
Google
Yahoo!
