Press release from TheNewswire.ca
Viridis Energy Begins Shipping to Europe on Abellon Alliance
Tuesday, September 13, 2011
Viridis Energy Begins Shipping to Europe on Abellon Alliance05:56 EDT Tuesday, September 13, 2011(via Thenewswire.ca) Vancouver, BC - September 13, 2011 - Viridis Energy Inc. ("Viridis" or the "Company") (TSXV: VRD) (OTC: VRDSF.PK), a "Cleantech" manufacturer and distributor of alternative energy providing biomass fuel to global residential and industrial markets, announced today that it has begun shipping wood pellets to Italy through an off-take agreement arranged through its strategic alliance with Abellon Clean Energy Limited ("Abellon") that was signed last month. The agreement marks Viridis' second major off-take agreement in Europe. In addition, the Viridis/Abellon joint alliance is scheduled to begin shipping wood pellets to Switzerland over the next 30 days. Abellon Clean Energy is a leading integrated sustainable energy solutions provider based in Ahmedabad, India, with operations in the U.S., Canada, Europe, U.K., India and Africa. Viridis commenced its collaboration with Abellon in August 2011 to identify and secure supply agreements for the Company's existing production, partner on the proposed acquisition of Monte Lake property and the development of a production facility, and to provide a strategic investment in Viridis by Abellon. The increase in demand for wood pellets in Europe was highlighted in a recent report by RISI, the leading information provider for the global forest products industry. RISI forecasts a 44 percent increase in biomass demand between 2010 and 2020 in Europe (inclusive of the 27 countries comprising the European Union, the UK, Norway and Switzerland), driven principally from the energy sector. The report sites lignocellulosic biomass, or plant biomass, as the largest renewable energy source available today, due to its relative abundance and reliable supply. A recent report by the International Institute for Environment and Development (IIED) stated that plans by Organization for Economic Co-Operation and Development (OECD) countries to rapidly expand power plants have fuelled demand for wood pellets, which could push demand up by 90 million tonnes per year in Europe and 60 million tonnes in the UK by 2020. Commenting on the development, Christopher Robertson, Viridis' chief executive officer, said, "Our strategic alliance with Abellon is quickly developing into a dynamic conduit to significant opportunities in Europe. Since both companies share the objective of creating a leading bio-energy source, our efforts were immediately aligned. As a result, our relationship has already started to deliver results." Mr. Robertson continued, "As a result of our shipments into Europe, our current operations are trending towards full capacity and witnessing therefore nicely improving gross margins. Going forward, we intend to strategically expand our production capacity to address the worldwide demand for wood pellets and other biomass products, and we are currently reviewing several contract opportunities that satisfy our near term investment criteria and long term growth objectives." ---------------------------------------------------------------- |Investor Contact: |Company Contact: | |Yvonne L. Zappulla |Michele Rebiere | |Managing Director |Chief Financial Officer | |Grannus Financial Advisors, Inc.|Viridis Energy Inc | |212-681-4108 |905-847-5226 | |Yvonne@GrannusFinancial.com |Investorinfo@ViridisEnergy.ca| ---------------------------------------------------------------- About Viridis Energy Inc. Viridis Energy Inc. (TSXV: VRD) is a publicly traded, "Cleantech" alternative energy company specializing in the agricultural and wood waste biomass. Located in Vancouver, B.C., Viridis Energy operates Cypress Pacific Marketing and Okanagan Pellet Company, two acquisitions in the wood pellet sector, thus providing the company with vertical integration for distribution and manufacturing. For more information on Viridis Energy Inc. please refer to the company website at www.viridisenergy.ca. Forward-looking Statements Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's future operations. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a continued downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties associated with the demand for biofuels, (3) the risk that the Company does not execute its business plan, (4) inability to finance operations and growth (5) inability to retain key management and employees, (6) ; an increase in the number of competitors with larger resources, and (7) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company intends to update such forward looking information in the Company's MD&A in the event that actual results differ materially from such forward-looking statements contained herein. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian security regulators. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Copyright (c) 2011 Thenewswire.ca - All rights reserved.