DETROIT–()–Green Energy Renewable Solutions, Inc. (OTCQB: EWRL) (“Green Energy”)
announced today that the Officers and Directors of Green Energy have
made the decision to step back from the proposed landfill and renewable
energy project in Puerto Rico due to lack of funding.
The Company stated that it had received commitments for funding that
were expected to close in 2012 for this project, but due to failure of
sources to meet the funding commitments and lack of success in obtaining
alternative funding in a timely manner, it would table pursuit of this
venture for the time being.
Joseph DuRant, CEO of Green Energy, stated, “We are very disappointed
that what we thought were solid funding commitments were not
consummated. This left us in a very difficult position as we had already
made material commitments to other projects. We feel it is the best
decision to table the Puerto Rico project for the present time, and we
will focus our efforts on developing our other projects which have a
higher probability of success with a shorter timeline to activate. We
hope to revisit opportunities in the Puerto Rico market in the future
and continue to believe this area has great potential. We are working
diligently to bring a number of exciting projects online in the coming
months and are confident that our business model will bring success to
our company.”
About Green Energy Renewable Solutions
Green Energy Renewable Solutions, Inc. is a developer and operator of
municipal solid waste and construction and demolition waste processing
and recycling facilities. The Company operates with long-term supply
agreements to process waste materials into valuable recyclables and
reduce waste volume going into landfills by up to 85%. Green Energy
Renewable Solutions has developed a strategic plan to create sustainable
renewable energy with waste-to-energy power plants and the production of
waste derived fuels.

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