Thursday, July 16, 2009

Vega's Biomass Plans for Georgia Fit Federal State Energy Program

/PRNewswire/ -- VEGA PROMOTIONAL SYSTEMS, INC. (Pink Sheets: VGPR) announced today that the Company's plan to manufacture energy efficient pellet fuel from organic waste bi-products in the State of Georgia meets the qualifying criteria to apply for a grant from the State under the federal State Energy Program.

The U.S. Department of Energy announced July 7, 2009 that Georgia will receive $32.9 million in federal money to support energy efficiency and renewable energy projects across the state. The money is part of a total of nearly $82.5 million the department will award Georgia as part of the federal State Energy Program. Georgia's proposal outlined plans for increasing the use of renewable energy and reducing greenhouse gas emissions. The state will get more than $41 million in additional funding upon demonstrating successful implementation of that plan, according to the department.

The program is part of President Barack Obama's national strategy to support job growth. The American Recovery and Reinvestment Act appropriated $3.1 billion to the State Energy Program to help states create green jobs, address state energy priorities and adopt emerging renewable energy and energy efficiency technologies.

Vega recently announced its plan to build a manufacturing plant in the State of Georgia to produce biomass products and bio-diesel products for power generation units. When completed, the fuel pellet manufacturing facility will capitalize on the abundance of biomass in Georgia's Bioenergy Corridor. The State ranks third in the nation as a potential source of renewable energy. The amount of privately owned forests in Georgia, more than any other state in the country, is the reason for the State's ranking. When completed, the Georgia plant would have the capacity to produce several hundred thousand metric tons of biomass fuel pellets annually.

The Company will seek financial assistance from the State to build its manufacturing plant. When complete, the facility will create nearly 200 direct or indirect green jobs and address state energy priorities to adopt emerging renewable energy and energy efficiency technologies.

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.

-----
www.fayettefrontpage.com
Fayette Front Page
www.georgiafrontpage.com
Georgia Front Page

No comments: