Press Releases
_____________________________________________________ February 2nd 2009, 8:00 am ET
Global Energy Announces Successful Commercial Waste-to-Energy Production Trial
January 20, 2009, 8:00 am ET
Global Energy's Chief Executive Officer Issues Letter to Stockholders
June 2, 2008 - New York, N.Y.
Global Energy Reports on Independent Testing of KDV Technology in the Treatment of Various Household Wastes, Biomass and Plastics - Tested Diesel Cetane Ratings Reach 63.6 in Comparison to the Norm of 51 With High Calorific Value Exceeding the European EN590 Standard
March 27, 2008 - New York, NY
alternative energy innovator focusing on the processing of organic solid and energy waste into usable products
March 20, 2008 - New York, N.Y.
Global Signs MOU with ShenMu SanJiang Coal Chemical Company Ltd.
To Form A New Joint Venture Entity to Utilize KDV Technology in the People’s Republic of China
July 18, 2007 04:00 PM Eastern Europe
Global Energy and AlphaKat Form New Joint Venture “AGEI ”
July 16, 2007 03:00 PM Eastern Europe
Global Energy Arranges $4 Million Financing
May 17, 2007 04:00 PM Eastern Europe
Global Energy Appoints Alex Werber Chief Financial Officer
May 04, 2007 04:00 PM Eastern Europe
Global Energy Appoints Asi Shalgi as Chief Executive Officer
February 2nd 2009, 8:00 am ET
Global Energy Announces Successful Commercial Waste-to-Energy Production Trial
On January 15, 2009 in Hoyerswerda, Germany, AlphaKat GmbH (“AlphaKat”) led by Dr. Christian Koch and Global Energy, Inc. (OTCBB:GEYI - News) conducted a first round of municipal solid waste (MSW) feedstock tests as part of the commissioning phase for AlphaKat’s first-generation, commercial scale KDV 500 waste-to-diesel process. The KDV 500 is designed to produce 145 gallons (550 liters) of high quality diesel fuel from an average of 1.5 tons of MSW per hour. The trial was operated by AlphaKat operators and observed by additional potential strategic partners.
“The results of this test represent a significant milestone toward launching the commercialization of the KDV 500 during 2009,” stated Dr. Koch inventor of the KDV technology and founder of AlphaKat.
Global Energy sourced the feedstock from a UK company that has developed a fully automated process for sorting MSW. The process is capable of producing a consistent, customized, MSW- derived feedstock which in this case was comprised of 80% biomass (including paper and wood) and 20% plastics that were shredded and dried according to AlphaKat’s specifications. The results of the test will form the basis for further discussions with the UK Company regarding a joint-venture to operate a KDV 500 at its MSW sorting facility in the UK.
“The results of this initial test demonstrate the tremendous potential of the KDV technology to utilize an already abundant and growing waste feedstock such as MSW and will further support Global Energy’s project development and strategic relationships in Europe, the USA and China,” commented Mr. Asi Shalgi, CEO of Global Energy.
January 20, 2009, 8:00 am ET
Global Energy's Chief Executive Officer Issues Letter to Stockholders
Dear Shareholders,
It is a pleasure to write to you for the first time as the CEO of Global Energy on behalf of the management team, and it will not be the last as we embark on an exciting journey together. I am thrilled and grateful to have the opportunity to lead Global Energy forward in a world that is realizing the value of and the need for our technology and solutions.
Our strategy is to build and co-own, with strategic partners, industrial scale facilities that will utilize technology to which Global Energy and its affiliates have licensing rights to produce synthetic diesel fuel from different types of waste. With each project, our strategy is to form partnerships under long term contracts with local companies that have the ability to supply large, consistent quantities of appropriate waste feedstock and have the necessary operational and technical expertise to operate such diesel producing facilities.
The Company is currently negotiating with potential partners to build plants in the United States, China, Germany, Poland and Romania. We believe that at optimal capacity, these facilities should have the capability of producing synthetic diesel fuel at a competitive cost in today's market and present attractive profit to Global Energy.
We at Global Energy are excited about the recent developments moving toward the commercialization of our core licensed technology. Based on the production capabilities demonstrated by pilot projects, we believe that a single KDV500 unit is capable of producing approximately 500 liters of synthetic diesel fuel per hour, or approximately 1,200,000 gallons of diesel fuel per year. We are continuing our work and tests in order to maximize the potential of the KDV500.
It is my intention to steer the Company in a way that will build long-term sustainable value, especially in our core areas of competitive advantage where the future value of Global Energy lies. I believe that this approach will build a strong and profitable company that will maximize the value to our shareholders.
Sincerely,
Mr. Asi Shalgi
Chief Executive Officer
Global Energy, Inc.
June 2, 2008 - New York, N.Y.
Global Energy Reports on Independent Testing of KDV Technology in the Treatment of Various Household Wastes, Biomass and Plastics - Tested Diesel Cetane Ratings Reach 63.6 in Comparison to the Norm of 51 With High Calorific Value Exceeding the European EN590 Standard
The first tests were conducted by the Institute for Neuwertwirtschaft GMBH (“IFN”) from a feed stock of household waste from the city of Liepzig on approximately 130 liters of synthetic diesel that were produced through the AlphaKat KDV process. The study concluded “this product can be used in CHP’s (combined heat and power plants). For use in the diesel engine area, which is subject to EN590 (The European Standard for Diesel for Vehicles), sulfur content and stabilization need to be adjusted for full scale industry plants. The refuse contained a maximum of 46% hydrocarbons from which the demonstration plant produced diesel from 41%, representing a conversion efficiency of 89%.”
ERRSA Energietechnic, a reputable test and regulation institute in Germany from Zitau, separately concluded, based on a test run on a 200KW diesel engine that the produced diesel held approximately 12,000 Kcal per kilogram compared to the EN590 standard of approximately 10,000 Kcal per kilogram. The Cetane rating 63.6 compared with the standard EN590. In summary, “the tested diesel is special fuel that could provide an alternative to vegetable oil with CPH and to fossil diesel fuel for vehicles. The high calorific value of the diesel would lead to reduction in the diesel engine’s fuel consumption and therefore reduction of emissions and logistics costs.”
Yossi Raz, Global’s VP of Project Development and Chief Technology Officer, stated, “As we continue to expand and grow our partnerships and presence globally, it is critical to the process to conduct independent tests of this nature to reconfirm the validity of the technology. Third party testing will continue as we refine and grow the KDV technology to meet the needs of current and potential alliance partners and customers.”
March 27, 2008 - New York, NY - Global Energy (OTC BB:GEYI),
Global Energy Lays Groundwork for Project In Ethiopia
Company to Plant, Harvest and Produce High Quality Oil for BioDiesel and Other Applications with Non-Edible Castor-
an alternative energy innovator focusing on the processing of organic solid and energy waste into usable products, today announced that the Company has successfully finalized the first stage of its agricultural activities – castor farming (I assume that you have made arrangements for the planting of fields- is that correct?)Yes in Ethiopia.
Global, in conjunction with its subsidiaries, Global NRG Pacific and Global Energy Ethiopia (“GEE”), is involved in a project to plant, harvest and produce non-edible oil for the biodiesel industry and a myriad of other uses.
GEE expects to commence seeding of castor in April, 2008 and harvest in August/September 2008. The expected yield of the harvest is 28,000 tons of seeds producing approximately 12,000 tons of castor oil. The current commodity price for castor ranges from $700.00U.S. to $1100.00 per ton.
During the past five months, GEE has developed an infrastructure for an agricultural cooperative, in the regions of Waletia and Goma Gofa, Ethiopia. This includes, but is not limited to, signed agreements with over 25,000 families, to farm castor on approximately 7,500 hectares of their land. GEE’s operations center is based in Sodo, Ethiopia, and includes a logistics center, computer center and a staff of Company trained agricultural supervisors.
The castor initiative is located in southern Ethiopia, approximately 320 km south of the capital of Addis Ababa and is comprised of land area totaling 220km by 110km.
GEE is concurrently conducting a research and development program to achieve new “species” of castor to improve future yields and intends to conduct studies in eight experimental sites simulating a variety of conditions. Additionally, the Company is training local personnel with twelve agronomists.
“Global’s work in Ethiopia represents another business model for the Company, one that is practical, provides a service to members of the local communities, and holds the potential to generate an ongoing significant revenue stream for the Company,” stated Asi Shalgi, CEO.
March 20, 2008 - New York, N.Y.
Global Signs MOU with ShenMu SanJiang Coal Chemical Company Ltd.
To Form A New Joint Venture Entity to Utilize KDV Technology in the People’s Republic of China
New York, N.Y. – March 20, 2008 – Global Energy (OTC BB:GEYI), an alternative energy innovator focusing on the processing of organic solid and energy waste into usable products, today announced that the Company had entered into a Memorandum of Understand (MOU) with ShenMu SanJiang Coal Chemical Company Ltd. (“Shaanxi”) located in the People’s Republic of China.
Global has certain rights to market and use technology and equipment for the conversion of Municipal Solid Waste (“MSW”), organic materials, sludge and other hydrocarbon materials to diesel oil based on the AlphaKat KDV technology.
Under the terms of the MOU, Global and Shaanxi, pending completion of due diligence of the KDV technology in Germany, plan to jointly own a new entity. Global would own 51% of the new entity, unless Sinopec Beijing Governmental Energy Company becomes a substantial equity partner, in which case Global's interest would be 26%. The new entity would initially build, own and operate an AlphaKat system expected to produce ten thousand (10,000) liters of diesel per hour from tar oil. Shaanxi is a producer of blue coal, where significant quantities of tar oil are produced as a residual of the production process. Shaanxi would provide the new company with tar oil at a discount to the published market price for conversion into high quality diesel. The MOU provides for the extension and growth capabilities of the “system” after successful conversion of tar oil to diesel. Global Energy, under the terms of the MOU, would be entitled to royalties from the sale of diesel produced by the AlphaKat KDV Technology.
Completion of the transaction is subject to due diligence and negotiation of final documentation.
“The completion of the transaction in the MOU would represent a huge leap forward for our company into the People’s Republic of China and to meeting our mission of a global presence, providing ecologically sound solutions to the burgeoning energy crisis while generating revenue. Global estimates that there are potentially millions of tons of tar oil in the region. We enthusiastically enter the due diligence process and hope to sign a final agreement in the near future,” stated Asi Shalgi, CEO of Global Energy.
About ShenMu Sin Jiang Coal Chemical Company Ltd. (“Shaanxi”)
Shaanxi is active in the field of converting charcoal to oil and blue coal by pyrolysis reaction (heating coal in an oxygen free atmosphere) in the People’s Republic of China. The Company produces approximately 200,000 tons of residual oil sludge per year.
About Global Energy
Global Energy's mission is to commercialize innovative technologies which produce energy from waste and renewable sources, while contributing to a vision of a cleaner environment. Global Energy intends to use the most efficient and environmentally friendly of all currently available alternative fuel technologies, each originally developed and patented by acclaimed scientists.
For further information please visit www.global-energy.net
Forward-Looking Statements.
Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, that we plan to jointly own a new entity with partial ownership by Global; that the new entity will initially build, own and operate an AlphaKat system to produce ten thousand (10,000) liters of diesel per hour; that Shaanxi will provide the new company with tar oil at a discount to the published market price for conversion into high quality diesel; that there are potentially millions of tons or tar oil in the region; that we will sign an agreement in the near future; and that we will use the most efficient and environmentally friendly of all currently available alternative fuel technologies, each originally developed and patented by acclaimed scientists.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the inherent uncertainties and speculative nature associated with biofuels and alternative fuel sources; (ii) potential environmental liabilities, weather, mechanical failures, safety concerns, labor problems and financing problems; (iii) changes in economic conditions, adverse exchange rates and financial markets; (iv) the risk that we are not able to execute our business plan, such as entering agreements with strategic partners, leasing land, obtaining loans, etc; (v) the inability to retain key employees; (vi) changes in energy prices and the high cost of alternative fuels; (vii) Global Energy's inability to finance its operations or growth; (viii) the inability to obtain all necessary government, environmental and regulatory approvals; (ix) an increase in competition in the biofuel and alternative fuel market; (x) the possibility that our technology does not work as well as expected; and (xi) inability to access additional funds under the arranged convertible debenture which is subject to certain conditions to funding. Further, our or Shaanxi’s due diligence may determine that the project is not feasible. Investors should consider all of these risks and should also refer to the risk factors disclosed on the SEC filings of other start up alternative energy companies.
February 11, 2008 – New York, New York
GLOBAL ENERGY signs agreement with RENEWABLE DIESEL, LLC for development of waste to renewable diesel projects
- Global Energy (OTC BB:GEYI), an emerging leader and innovator in the renewable energy and clean fuel markets with a focus on the processing of waste materials into diesel fuel – today announced that it has entered into an agreement with Renewable Diesel, LLC (“Renewable”) in connection with the joint ownership of projects utilizing a proprietary technology (the “Technology”) that converts household waste and other waste containing hydrocarbon materials into a renewable diesel fuel.
Under the agreement, Renewable will develop projects to convert waste and hydrocarbon waste into diesel. With a limited exception, Global has the right to invest a majority of the equity for all of the projects that are developed by Renewable using the Technology. The principals of Renewable have extensive experience in developing and financing power and waste disposal projects, including renewable energy projects. For more information, call Bruce Drucker at 626-524-3399.
Renewable will develop projects in the states of New York, Texas and California,
About Global
Global’s mission is to commercialize innovative technologies which produce energy from waste and other renewable sources, while contributing to a cleaner environment. Global is making use of efficient and environmentally friendly developed and patented systems.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute “forward-looking” statements as defined in Section 27A of the Securities Act of 1933 (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), the Private Securities Litigation Reform Act of 1995 (the “PSLRA”) or in releases made by the Securities and Exchange Commission, all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Global or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “may,” “will,” “would,” “could,” “should,” “seeks,” or “scheduled to,” “proposed” or other similar words, or the negative of these terms or other variations of these terms or comparable language, or by discussion of strategy or intentions. These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the “safe harbor” provisions of such laws. Global cautions investors that any forward-looking statements made by Global are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements with respect to Global, include, but are not limited to, those factors, risks and uncertainties that are described in Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2006, and in subsequent securities filings by Global.
Although Global believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any forward-looking statements. Global’s future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained in this press release are made only as of the date hereof and Global does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.
February 11, 2008, New York, New York
GLOBAL ENERGY signs agreement with COVANTA ENERGY for waste to renewable diesel projects
- Global Energy (OTC BB:GEYI), an emerging leader and innovator in the renewable energy and clean fuel markets with a focus on the processing of waste materials into diesel fuel – today announced that it has entered into an agreement with Covanta Energy Corporation in connection with the joint ownership of projects utilizing a proprietary technology (the “Technology”) that converts household waste and other waste containing hydrocarbon materials into a renewable diesel fuel.
Global’s agreement envisions a long-term cooperation between the parties and allows Covanta to develop projects using the Technology with certain feedstocks in the United States and several other countries. Covanta has ordered an initial system for the United States market to demonstrate the commercial viability of the Technology.
Covanta Energy Corporation is an internationally recognized owner and operator of energy-from-waste projects and renewable energy projects. Covanta’s energy-from-waste facilities convert municipal solid waste into renewable energy for numerous communities, predominantly in the United States. For more information, visit www.covantaholding.com
Asi Shalgi, Chief Executive Officer of Global, stated that “We are very excited about the partnership that we forged with Covanta and believe this relationship will more rapidly demonstrate the capability of the Technology, thereby accelerating Global’s growth.”
About Global
Global’s mission is to commercialize innovative technologies which produce energy from waste and other renewable sources, while contributing to a cleaner environment. Global is making use of efficient and environmentally friendly developed and patented systems.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute “forward-looking” statements as defined in Section 27A of the Securities Act of 1933 (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), the Private Securities Litigation Reform Act of 1995 (the “PSLRA”) or in releases made by the Securities and Exchange Commission, all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Global or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “may,” “will,” “would,” “could,” “should,” “seeks,” or “scheduled to,” “proposed” or other similar words, or the negative of these terms or other variations of these terms or comparable language, or by discussion of strategy or intentions. These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the “safe harbor” provisions of such laws. Global cautions investors that any forward-looking statements made by Global are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements with respect to Global, include, but are not limited to, those factors, risks and uncertainties that are described in Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2006, and in subsequent securities filings by Global.
Although Global believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any forward-looking statements. Global’s future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained in this press release are made only as of the date hereof and Global does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.
October 29, 2007 03:00 PM Eastern Europe
Global Receives Second Installment of $1.5 Million Pursuant to up to $4 Million Financing with YA Global Investments
NEW YORK--(BUSINESS WIRE)--Global Energy Inc. (the “Company”) (OTCBB:GEYI), an alternative energy innovator focusing on the processing of solid waste into usable products, today announced that the Company has purchased a 10% convertible debenture for gross proceeds of $1.5 million from YA Global Investments, P.C. An additional $2 million will be advanced to us by YA Global under our Securities Purchase Agreement with YA Global subject to our filing a registration statement registering the resale of the shares underlying the debentures.
After significant due diligence, including numerous engineering evaluations by YA Global, the KDV technology available through Global’s joint venture with German-based AlphaKat, was found with high efficiency conversion of waste to diesel with the lowest possible emissions. The Debenture matures on October 31, 2010 and is convertible by YA Global at a fixed conversion price of $2.20 per share with adjustments for certain circumstances including a stock split or merger. Details of the transactions are available in the Company’s Form 8-K filing with the Securities and Exchange Commission on October 25, 2007.
“YA Global’s team performed an extensive due diligence study of the KDV technology, and provided with a report endorsing the KDV technology. This, report coupled with YA Global’s investment in Global Energy Inc of funding and intellectual prowess, certainly reinforce my commitment to bring the Company to its fullest potential,” stated Asi Shalgi, CEO.
“We intend to utilize the proceeds to immediately begin to build demonstration plants, further our marketing efforts and develop what we believe is a huge market we have identified on the African continent,” Shalgi concluded.
About Global Energy
Global Energy's mission is to commercialize innovative technologies which produce energy from waste and renewable sources, while contributing to a vision of a cleaner environment. Global Energy intends to use of the most efficient and environmentally friendly of all currently available alternative fuel technologies, each originally developed and patented by acclaimed scientists.
Forward Looking Statements.
Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, that an additional $2 million will be advanced to us by YA Global on filing a registration statement; that Global Energy intends to use of the most efficient and environmentally friendly of all currently available alternative fuel technologies, each originally developed and patented by acclaimed scientists; and that we intend to utilize the proceeds of the debenture to immediately begin to build demonstration plants, further our marketing efforts and develop what we believe is a huge market we have identified on the African continent.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the inherent uncertainties and speculative nature associated with biofuels and alternative fuel sources; (ii) potential environmental liabilities, weather, mechanical failures, safety concerns, labour problems and financing problems; (iii) changes in economic conditions, adverse exchange rates and financial markets; (iv) the risk that we are not able to execute our business plan, such as entering agreements with strategic partners, leasing land, obtaining loans, etc; (v) the inability to retain key employees; (vi) changes in energy prices and the high cost of alternative fuels; (vii) Global Energy's inability to finance its operations or growth; (viii) the inability to obtain all necessary government, environmental and regulatory approvals; (ix) an increase in competition in the biofuel and alternative fuel market; (x) the possibility that our technology does not work as well as expected; and (xi) inability to access additional funds under the arranged convertible debenture which is subject to certain conditions to funding. Investors should consider all of these risks and should also refer to the risk factors disclosed on the SEC filings of other start up alternative energy companies.
October 10, 2007 04:30 PM Eastern Europe
Global Energy Subsidiary Enters Into 50 Year Lease Agreement With Ethiopian Regional Authority to Farm Castor Seeds for Production of Castor Oil on 20,015 Hectares of Land in Ethiopia
NEW YORK--(BUSINESS WIRE)--Global Energy Inc. (the “Company”) (OTCBB:GEYI), an alternative energy innovator focusing on the processing of solid and energy waste into usable products, today announced that the Company’s majority owned subsidiary has entered into lease agreements dated October 5, 2007 with the Southern Nations Nationalities People’s Regional State, Ethiopia (“SNRS”) for a 50 year lease of: 20,000 hectares of rural land located in the Gamo Gofa zone in the SNRS for the purpose of cultivating castor seeds; and 15 hectares of land located in the Gamu Gofa zone, Kucha Woreda, in the SNRS for the purpose of operating an oil crushing plant through an existing facility on the property. The agreement is subject to, among other things, the following conditions:
(i) the Company must pay SNRS a rental fee of Birr $47
(approximately US$5) or Birr $78 (approximately US$8.50) per
hectare per year, depending on whether the leased land is defined
as second or first class land, respectively.
(ii) the Company must completely develop the 20,000 hectares
leased to the Company within eight years of the execution date of
the agreement, including planting and maintaining trees or other
oil producing crops.
(iii) the Company must completely develop the 15 hectares leased
to the Company within three years of the execution date of the
agreement.
(iv) the Company must perform a survey on the 20,000 hectares
within 24 months of the execution date of the agreement.
(v) The Company has an option to lease additional farmland from
the SNRS during the term of the lease agreement (up to an
additional 100,000 hectares of farmland) on the same terms as the
lease agreement for the 20,000 hectares.
(vi) The Company is not required to make any rental payments on
its 20,000 hectare lease agreement until the fourth year of the
agreement.The agreements were entered into by Global Energy Ethiopia (“GEE”), a 99.9% owned subsidiary of Global NRG Pacific Ltd., which itself is a 50.1% owned subsidiary of the Company that was formed as a joint venture with Yanai Man Projects Ltd. for the purpose of producing crude castor oil to aid in the manufacture of bio-diesel fuels. GEE intends in the coming months to enter into community farming agreements with local municipal authorities pursuant to which local farmers will grow castor seeds for the Company and for cultivation of the leased lands with modern advanced agricultural systems. GEE also intends to file a request for funding from the Ethiopian Development Bank to fund 70% of the project investment and working capital for the first year.
“This agreement represents entry into a rich area in a prime geographic location that holds the potential to garner Global revenue while providing a sorely needed end-product. With strong government relations and an infrastructure in place, this joint venture represents one, of many, large projects on the continent of Africa,” stated Asi Shalgi, CEO.
About Global Energy
Global Energy's mission is to commercialize innovative technologies which produce energy from waste and renewable sources, while contributing to a vision of a cleaner environment. Global Energy intends to use of the most efficient and environmentally friendly of all currently available alternative fuel technologies, each originally developed and patented by acclaimed scientists.
Forward Looking Statements.
Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, that we expect that 70% of the invested money will be by a loan from the Ethiopian Development Bank; that the Company has strong government relations and infrastructure in place in Ethiopia; that the lease agreement has the potential to garner revenue to the Company; that GEE intends in the coming months to enter into community farming agreements with local municipal authorities pursuant to which local farmers will grow castor seeds for the Company and for cultivation of the leased lands with modern advanced agricultural systems; and that we plan to utilize left over refuse of other energy production methods to create usable energy.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the inherent uncertainties and speculative nature associated with biofuels and alternative fuel sources; (ii) potential environmental liabilities, weather, mechanical failures, safety concerns, labour problems and financing problems; (iii) changes in economic conditions, adverse exchange rates and financial markets; (iv) the risk that we are not able to execute our business plan, such as entering agreements with strategic partners, leasing land, obtaining loans, etc; (v) the inability to retain key employees; (vi) changes in energy prices and the high cost of alternative fuels; (vii) Global Energy's inability to finance its operations or growth; (viii) the inability to obtain all necessary government, environmental and regulatory approvals; (ix) an increase in competition in the biofuel and alternative fuel market; (x) the possibility that our technology does not work as well as expected; and (xi) inability to access additional funds under the arranged convertible debenture which is subject to certain conditions to funding. Investors should consider all of these risks and should also refer to the risk factors disclosed on the SEC filings of other start up alternative energy companies.
July 25, 2007 04:00 PM Eastern Europe
Global Energy Forms Joint Venture With Israeli Partner to Farm Castor Seeds for Castor Oil
Company Expects to Plant 10,000 Hectares in First Year
NEW YORK--(BUSINESS WIRE)--Global Energy (OTCBB:GEYI), an alternative energy innovator focusing on the processing of solid and energy waste into usable products, today announced that the company joined forces with an Israeli partner in the agricultural field to form a joint venture whose purpose is the production of crude castor oil to aid in the manufacture of bio-diesel fuels. The first project is to work with an Ethiopian entity to farm castor seeds for castor oil in Ethiopia. Details of the transaction are filed in a Form 8-K with the U.S. Securities and Exchange Commission.
Under the terms of a Memorandum of Understanding with Abaya Galana Agro Industries PLC of Ethiopia, the Ethiopian partner will invest and hold 40% of this joint venture, and is to utilize its strong construction business infrastructure and act in land preparation as well as being the interface with local authorities. By 2012 the joint venture plans to farm 100,000 hectares of castor in Ethiopia where the land is intended to be leased from the government for a term of 45 years.
The joint venture is intended to start by planting 10,000 hectares of castor trees for the first year.
At current market prices for castor oil of $750 – $900 US per ton the Company estimates sales of U.S. $13 million for the first year after planting and U.S. $140 million in year five. Preliminary seeding is expected to take place in the second quarter of 2008, with sales of the first crop occurring in the third quarter of 2008.
The company estimates the investment for the project to be approximately $10 million US for the first year. The company expects that 70% of the invested money will be by a loan from the Ethiopian Development Bank.
“Global intends to manifest its mission of turning energy into profit. We are most enthused at the prospects that lie ahead in Africa and in pursuing our objectives with AlphaKat globally,” stated Asi Shalgi, CEO.
About Global Energy
Global Energy's mission is to commercialize innovative technologies which produce energy from waste and renewable sources, while contributing to a vision of a cleaner environment. Global Energy intends to use of the most efficient and environmentally friendly of all currently available alternative fuel technologies, each originally developed and patented by acclaimed scientists. Through its marketing and distribution agreement with AlphaKat, and the formation of AGEI, a joint venture with Global and AlphaKat, for its proprietary KDV technology, Global Energy plans to utilize left over refuse of other energy production methods to create usable energy.
Forward Looking Statements.
Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, that: the Ethiopian partner will invest and hold 40% of this joint venture, and is to utilize its strong construction business infrastructure and act in land preparation as well as being the interface with local authorities; that by 2012 the joint venture plans to farm 100,000 hectares of castor in Ethiopia; that the land is intended to be leased from the government for a term of 45 years; that the joint venture intends to start with 10,000 hectares of castor trees for the first year; that at current market prices for castor oil of $750 – $900 US per ton we estimate sales of U.S. $13 million for the first year after harvest and U.S. $140 million in year five; that preliminary seeding is expected to take place in the second quarter of 2008, with sales of the first crop occurring in the third quarter of 2008; that we hope to generate revenue from castor in the first year; that we expect that 70% of the invested money will be by a loan from the Ethiopian Development Bank; and that we plan to utilize left over refuse of other energy production methods to create usable energy.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the inherent uncertainties and speculative nature associated with biofuels and alternative fuel sources; (ii) potential environmental liabilities, weather, mechanical failures, safety concerns, labour problems and financing problems; (iii) changes in economic conditions, adverse exchange rates and financial markets; (iv) the risk that we are not able to execute our business plan, such as entering agreements with strategic partners, leasing land, obtaining loans, etc; (v) the inability to retain key employees; (vi) changes in energy prices and the high cost of alternative fuels; (vii) Global Energy's inability to finance its operations or growth; (viii) the inability to obtain all necessary government, environmental and regulatory approvals; (ix) an increase in competition in the biofuel and alternative fuel market; (x) the possibility that our technology does not work as well as expected; and (xi) inability to access additional funds under the arranged convertible debenture which is subject to certain conditions to funding. Investors should consider all of these risks and should also refer to the risk factors disclosed on the SEC filings of other start up alternative energy companies.
July 18, 2007 04:00 PM Eastern Europe
Global Energy and AlphaKat Form New Joint Venture “AGEI”
Joint Venture to Further Worldwide Marketing and Sales of KDV Technology and Provides Exclusivity for the U.S. and China
NEW YORK--(BUSINESS WIRE)--Global Energy (OTCBB:GEYI), an alternative energy innovator focusing on the processing of solid and energy waste into usable products, and AlphaKat GMBH, inventor of the proprietary KDV technology, today announced that the Companies have entered into a 50/50 joint venture to be held through a subsidiary company called Alphakat Global Energy Inc. (“AGEI ”)
The goal of AGEI is to expand upon Global Energy and AlphaKat’s recently announced agreement to provide worldwide marketing and sales of the proprietary KDV technology, invented by Dr. Christian Koch, which converts municipal solid waste, organic materials and refinery sludge into mineral diesel oil .
The AGEI joint venture will hold the exclusive marketing rights for the sale of the AlphaKat technology in the U.S.A. and China and will be headed by Mr. Yossi Raz .
“The synergies that exist between Global Energy and AlphaKat, taking into account our missions, ethics, management philosophies and worldwide demand for this unique and viable energy solution, quickly led to this joint venture,” stated Asi Shalgi, CEO. "The U.S. and China represent enormous potential for AGEI and we are aggressively pursuing a number of opportunities in those countries and others where we hold rights to AlphaKat technology that are non-exclusive .”
“This joint venture is a 'win-win-win', for AlphaKat, for Global Energy and a clean environment for generations to come,” Shalgi concluded .
About Global Energy
Global Energy’s mission is to commercialize innovative technologies which produce energy from waste and renewable sources, while contributing to a vision of a cleaner environment. Global Energy intends to use of the most efficient and environmentally friendly of all currently available alternative fuel technologies, each originally developed and patented by acclaimed scientists. Through its marketing and distribution agreement with AlphaKat, and the formation of AGEI, a joint venture with Global and AlphaKat, for its proprietary KDV technology, Global Energy plans to utilize left over refuse of other energy production methods to create usable energy .
Forward Looking Statements .
Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, that: the technology that we have rights to converts municipal solid waste, organic materials and refinery sludge into mineral diesel oil; that our AGEI project will be headed by Yossi Raz; that the U.S. and China represent enormous potential for AGEI and we are aggressively pursuing a number of opportunities in those countries and others; that we intend to use of the most efficient and environmentally friendly of all currently available alternative fuel technologies; and that we plan to utilize left over refuse of other energy production methods to create usable energy .
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the inherent uncertainties and speculative nature associated with biofuels and alternative fuel sources; (ii) potential environmental liabilities, weather, mechanical failures, safety concerns, labour problems and financing problems; (iii) changes in economic conditions, adverse exchange rates and financial markets; (iv) the risk that we are not able to execute our business plan, either closing the Term Sheet or entering agreements with strategic partners; (v) the inability to retain key employees; (vi) changes in energy prices and the high cost of alternative fuels; (vii) Global Energy’s inability to finance its operations or growth; (viii) the inability to obtain all necessary government, environmental and regulatory approvals; (ix) an increase in competition in the biofuel and alternative fuel market; (x) the possibility that our technology does not work as well as expected; and (xi) inability to access additional funds under the arranged convertible debenture which is subject to certain conditions to funding. Investors should consider all of these risks and should also refer to the risk factors disclosed on the SEC filings of other start up alternative energy companies .
July 16, 2007 03:00 PM Eastern Europe
Global Energy Arranges $4 Million Financing
Company to Utilize Proceeds to Commence Construction of KDV Technology-Based Demonstration Plants
NEW YORK--(BUSINESS WIRE)--Global Energy (OTCBB:GEYI), an alternative energy innovator focusing on the processing of solid and energy waste into usable products – today announced that the Company has arranged a $4 million Convertible Debenture transaction, of which gross proceeds of $500,000 have been advanced. Details of the transaction are available in a Form 8-K filed with the Securities and Exchange Commission.
Proceeds will be utilized to exploit the Company’s recently announced marketing and distribution agreement with AlphaKat to bring its KDV technology to many parts of the world. Details of the agreement are also filed on a Form 8-K with the SEC. Initial plans include building two to three demonstration plants in various locations, which are expected to generate immediate revenue to the Company and to provide working capital for the next six to twelve months. Additionally, Global Energy plans to pursue synergistic alliances in other territories where there is significant opportunity.
"It is our plan to continue to build and operate waste to diesel plants, utilizing the KDV proprietary technology of Alphakat, and bring immediate revenue to the company. Additionally, this financing should allow us to build the requisite infrastructure to turn the “recycling” of municipal solid waste into profit,” stated Asi Shalgi, CEO.
The funding was provided by Cornell Capital Partners, a facilitator to small and mid-cap companies seeking intelligent interim funding solutions.
About Global Energy
Global Energy’s mission is to commercialize innovative technologies which produce energy from waste and other renewable sources , while contributing to a vision of a cleaner environment. Global Energy is making use of the most efficient and environmentally friendly of all currently available alternative fuel technologies, each originally developed and patented by acclaimed scientists. Through its marketing and distribution agreement with AlphaKat for its proprietary KDV technology, Global Energy plans to utilize left over refuse of other energy production methods to create usable energy.
Forward Looking Statements.
Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, that: placement proceeds will be utilized to exploit our agreement with AlphaKat to bring KDV technology to many parts of the world; that we plan to build two to three demonstration plants in various locations; that the plants are expected to generate immediate revenue and to provide working capital for the next six to twelve months; that we plan to pursue synergistic alliances in other territories where there is significant opportunity.; that we plan to continue to build and operate waste to diesel plants, utilizing the KDV proprietary technology of Alphakat, and bring immediate revenue to Global Energy; that the financing should allow us to build the requisite infrastructure to turn the “recycling” of municipal solid waste into profit; and that we plan to utilize left over refuse of other energy production methods to create usable energy.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the inherent uncertainties and speculative nature associated with biofuels and alternative fuel sources; (ii) potential environmental liabilities, weather, mechanical failures, safety concerns, labour problems and financing problems; (iii) changes in economic conditions, adverse exchange rates and financial markets; (iv) the risk that we are not able to execute our business plan, either closing the Term Sheet or entering agreements with strategic partners; (v) the inability to retain key employees; (vi) changes in energy prices and the high cost of alternative fuels; (vii) Global Energy’s inability to finance its operations or growth; (viii) the inability to obtain all necessary government, environmental and regulatory approvals; (ix) an increase in competition in the biofuel and alternative fuel market; and (x) inability to access additional funds under the arranged convertible debenture which is subject to certain conditions to funding. Investors should consider all of these risks and should also refer to the risk factors disclosed on the SEC filings of other start up alternative energy companies.
May 17, 2007 04:00 PM Eastern Europe
Global Energy Appoints Alex Werber Chief Financial Officer
Seasoned Financial Executive With Strong Record of Financial Management, Regulatory Reporting, M&A and Fund-Raising Activities to Create Infrastructure for Anticipated International Growth
NEW YORK--(BUSINESS WIRE)--Global Energy (OTCBB:GEYI), an emerging leader in the alternative energy (specifically waste to energy) market, today announced that the Board of Directors appointed Alex Werber to the post of Chief Financial Officer.
Alex Werber possesses over 15 years of financial management experience and expertise in privately and publicly traded entities. During the past fifteen years he specialized in the high technology sector acting in the capacities of Controller, VP of Finance and Chief Financial Officer where he was involved in all aspects of corporate financial management and fund raising activities.
Prior to his appointment at Global Energy, Weber served as Chief Financial Officer of CT Motion Ltd., Chief Operating Officer of MadahCom Ltd., Business Development Officer of Norkom Technologies Israel, Co-Founder of Cellpay Ltd., Vice President of Finance of Vcon Telecommunications Ltd. (Vcon was publicly traded on the Paris Stock Exchange (Nouveaux Marche), Controller and subsequently Chief Financial Officer of Rada Electronic Industries Ltd. (NASDAQ:RADA), Chief Financial Officer of Yakhin Hakal Group and Auditor and Audit Manager at Kost, Levary & Forrer (currently Kost, Forrer & Gabbay – a member of the Ernst and Young group).
Alex Werber served for a period of six years ending March 23, 2007 as a member of the Board of Directors and as Chairman of the Audit Committee of Crow Technologies Ltd. (NASDAQ:CRWT).
Alex Werber is presently serving as Chief Financial Officer of Tissera Industries, (OTCBB:TSSR).
He holds a bachelors degree in Economics and Accountancy from Tel Aviv University and a post graduate degree in Accounting from Tel Aviv University. He is a Chartered Accountant in Israel.
“We are proud to have Alex Werber join us at this point of tremendous opportunity in the Company’s brief but eventful history. His expertise in leading equity and debt financings, establishment of reporting systems and mechanisms that maximize performance, background in analyzing and evaluating potential joint venture and strategic alliance partners, and management of ventures with many governmental agencies, all are of great benefit to Global Energy as we embark upon promising technologies and ventures worldwide,” stated Asi Shalgi, Chief Executive Officer.
May 08, 2007 04:00 PM Eastern Europe
Global Energy Enters Term Sheet for Worldwide Distribution and Marketing With AlphaKat
Company to Enter Fuel Market
NEW YORK--(BUSINESS WIRE)--Global Energy (OTCBB:GEYI), today announced that the Company has entered into a term sheet with Germany-based AlphaKat to distribute and market its proprietary KDV technology.
AlphaKat recently launched its fifth plant for the use of Molecular depolymerization at low temperatures (290 - 350°C) and virtually pressure-free (about 0.1 bar below ambient pressure). The plant is processing continuously at industrial scale 700 liter per hour of diesel oil.
The state-of-the-art technology is designed to transform residuals from any organic based waste (i.e., waste oils, waxes, organic waste from food or meat industry, refinery sludge, RDF, agriculture waste and biomass) processing into alternative fuels. AlphaKat’s proprietary process holds the potential to lower the production cost of biodiesel to $0.29 per liter, $1.08 per Gallon.
Plants of KDV500, expected to be built internationally under the agreement, should each equal to 25,000 dunams (6,000 acres) of land dedicated to the eventual manufacture of biodiesel oil.
Additionally, one of the primary sources of raw materials for the technology will be MSW (Municipal Solid Waste).
The high efficiency of the AlphaKat process is to Global Energy’s understanding, almost entirely emission-free and self-supporting. AlphaKat contends that even the newest current technologies, produce CO and CO2 and cannot completely remove residual substances.
Benefits of the technology include:
Clear reduction of CO2 output – an effective manner that is environmentally friendly;
Highly efficient production of fuel from regenerating raw materials without environmentally harmful residual substances;
Reduction of crude oil imports through regenerating raw materials;
Greater long term independence from international oil companies with simultaneous use of local resources in any given international domain; and
Better fuel quality, equals to high Cetane mineral diesel.
Global Energy plans to exploit the technology through the wealth of contacts worldwide of its new CEO, Asi Shalgi, both on the government and institutional fronts.
Global Energy intends to build and operate plants based on the KDV technology to produce annually 500 million gallon of diesel oil within 5 years.
“With over twenty years' experience in alternative fuel sourcing, I can state with complete impunity that AlphaKat’s technology is truly ground-breaking. We believe that Global Energy will bring this technology to the U.S., Asian and European markets and are expecting to enter, at a rapid pace, strategic alliance and joint venture negotiations with a number of highly renowned entities,” stated Asi Shalgi, CEO.
Safe Harbor
Information Regarding Forward-Looking Statements:
Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, that: (i) we will distribute and market proprietary KDV technology worldwide; (ii) AlphaKat’s proprietary process holds the potential to lower the cost of resulting biodiesel to $0.29 U.S. per liter, $1.08 U.S. per gallon of biodiesel oil; (iii) plants expected to be built should each equal to 6,000 acres of land dedicated to the eventual manufacture of biodiesel oil; (iv) one of the primary sources of raw materials will be MSW; (v) the Alphakat technology process is almost entirely emission-free and self-supporting; (vi) we plan to exploit the technology through the wealth of contacts worldwide of our new CEO, Asi Shalgi, both on the government and institutional fronts; (vii) we intend to build and operate plants based on the KDV technology to produce annually 500 million gallon of diesel oil within 5 years; (viii) we will bring this technology to the U.S., Asian and European markets and are expecting to enter rapidly strategic alliance and joint venture negotiations with a number of highly renowned entities; and (ix) biodiesel fuel is of equal quality to high Cetane diesel fuel.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the inherent uncertainties and speculative nature associated with biofuels and alternative fuel sources; (ii) potential environmental liabilities, weather, mechanical failures, safety concerns, labour problems and financing problems; (iii) changes in economic conditions, adverse exchange rates and financial markets; (iv) the risk that Global Energy is not able to execute its business plan, either closing the Term Sheet or entering agreements with strategic partners; (v) the inability to retain key employees; (vi) changes in energy prices and the high cost of alternative fuels; (vii) Global Energy’s inability to finance its operations or growth; (viii) the inability to obtain all necessary government, environmental and regulatory approvals; inability to reach intended fuel quality targets based on production issues or technology issues; and (x) an increase in competition in the biofuel and alternative fuel market. Investors should consider all of these risks and should also refer to the risk factors disclosed in the periodic reports of start-up, alternative fuel and biofuel reporting issuers as filed on Edgar.
May 04, 2007 04:00 PM Eastern Europe
Global Energy Appoints Asi Shalgi as Chief Executive Officer
Alternative Fuel Industry Leader and Internationally Recognized Energy Innovator to Bring Projects from Concept to Commercialization
NEW YORK--(BUSINESS WIRE)--Global Energy (OTCBB:GEYI), an emerging leader in alternative fuel sources worldwide, today announced that the Board of Directors appointed Asi Shalgi, Chief Executive Officer.
Asi Shalgi possesses in excess of twenty years experience in the private and public sectors developing, financing, building, operating and commercializing projects in energy and in renewable energy sources.
He served as General Manager for industrial and agricultural companies that generated significant export revenue. Additionally, Shalgi served as Israel’s Director General of the Ministry of Energy and Infrastructures. During his tenure as Director, he was highly instrumental in peace treaty negotiations with the country of Jordan on the “energy annex” – a first and monumental step forward in joint commerce with an Arab nation.
Additionally, Shalgi was responsible for the legislation resulting in the new electricity standards for Israel allowing the involvement of Independent Power Producers (IPP) and the implementation of the Public Utility Authority that presently regulates the Israeli energy sector. He also was the lead in developing the first private power plant in Israel along with the first private water desalination plant.
He augmented his activities in Israel with the development and financing of a number of projects involving foreign partners, including Inonics, AlPaso Energy and others.
Asi Shalgi is a graduate of Tel Aviv University and is a Professional Engineer with a specialty in Industrial Management.
Chris Kape, member of the Board of Directors, stated, “Asi Shalgi brings a wealth of expertise and proven track record that we believe will bring Global Energy worldwide recognition.”
May 03, 2007 04:27 PM Eastern Europe
Global Energy Focuses on Exponential Growth of BioFuels Industry
Energy Policy Act of 2005 Assists in Positioning Company for Potential Enormous Prosperity
NEW YORK--(BUSINESS WIRE)--Global Energy (OTCBB:GEYI), today announced that the Company will focus its efforts in growing biofuel and alternative fuels market, by providing a vertically integrated company, covering the entire process of identification of alternative fuels, cultivation, production, to marketing.
Global Energy will operate as a holding company with varying ownership in entities according to pre-identified projects and opportunities internationally.
The global market for alternative fuel sources is poised for explosive growth in the next ten years.
Global Energy’s mission will be to exploit a number of sources of biofuel worldwide through strategic alliances, government cooperative agreements and the building of infrastructures capable of converting biofuel to viable energy sources.
Mike Score of MSUE in his Biodiesel Industry Analysis of October 2006, states, “Why are investors gearing up for biodiesel production in the U.S.? The answer seems to lie in the exponential growth demand for of the relatively small domestic market, as well as in the much larger international demand for biodiesel fuel…. The main drivers for increased biodiesel demand in the U.S. will be continued high energy prices and incentives provided by the Energy Policy Act of 2005.”
Further verification of the potential of biodiesel came on April 11, 2007, when the renowned DeBeers Group entered the biodiesel industry and has already on-sold 27 franchises based on algae technology along with 40 million shares to the public without even issuing a prospectus (Source: AutoblogGreen).
Global Energy contends that incoming management, existing strong relationships with international entities, through knowledge of the industry along with a formidable track record could garner significant long-term reward for investors, consumers and the scientific community.
The Company expects to announce senior management positions and more in-depth strategic plan in the immediate future.
Safe Harbor
Information Regarding Forward-Looking Statements:
Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, that: (i) Global Energy will focus its efforts in growing biofuel and alternative fuel markets, (ii) Global Energy will provide a vertically integrated company, covering the entire process of identification of alternative fuels, cultivation, production, to marketing, (iii) Global Energy will operate as a holding company with varying ownership in entities according to pre-identified projects and opportunities internationally, (iv) the global market for alternative fuel sources is poised for exponential growth in the next ten years, (v) Global Energy will exploit a number of sources of biofuel worldwide through strategic alliances, government cooperative agreements and the building of infrastructures capable of converting biofuel to viable energy sources and (vi) Global Energy’s present and future attributes could garner significant long-term rewards for stakeholders.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the inherent uncertainties and speculative nature associated with biofuels and alternative fuel sources; (ii) potential environmental liabilities, weather, mechanical failures, safety concerns, labour problems and financing problems; (iii) changes in economic conditions, adverse exchange rates and financial markets; (iv) the risk that Global Energy does not execute its business plan; (v) the inability to retain key employees; (vi) changes in energy prices and the high cost of alternative fuels; (vii) Global Energy’s inability to finance its operations or growth; (viii) the inability to obtain all necessary government, environmental and regulatory approvals; and (ix) an increase in competition in the biofuel and alternative fuel market. Investors should consider all of these risks and should also refer to the risk factors disclosed in the periodic reports of start-up, alternative fuel and biofuel reporting issuers as filed on Edgar.
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