Palm | Kelapa Sawit

Green Gold Ray Energies, Inc. (PINKSHEETS: GRYE) -- "Fueling the Future" -- announced today that its biodiesel refinery in Nasipit Port, Agusan del Norte will be opened in the next 90 days. Below is the perspective view of the GRYE Processing & Refinery Plant capable of producing about 180 million gallons per year or 680,400,000 liters per year.

The Research and Development Team of Green Gold Ray Energies has designed a unique biodiesel processing and refining technology that fits best to the Jatropha oil market requirements. The plant is designed to produce high biodiesel oil quality, based on fast enhanced growth, cultivation period, increased production efficiency, reliability and better productivity.

CEO Manolo Tecson said that he expects to see a greater increase in revenue now that they are initiating towards the full capacity of Green Gold Ray Energies. "Green Gold is responding to the global economic program of immediate creation and development of clean alternative energy production! We are very excited to see this first stage of growth come to pass, so we can finally fulfill and contribute to the local and global demands of biodiesel fuels, thus servicing our clients' inquiries and requests, while we get to the completion of our Website www.GreenGoldEnergies.com."

To date the Philippine government has legalized into law the Republic Act 9367, known as the Biofuel Act of 2006, which encourages the public to consume alternative fuels and strives for the gradual phase out of the use of damaging gasoline additives. The Act seeks to implement that all oil companies retail only liquid fuel that contains at least 5% bioethanol by total annual volume within the next two years from the effective date of the Biofuel Act and a minimum of 10% blend of ethanol by volume within four years.

A minimum of 1% by volume shall be blended into all diesel engine fuels within 3 months from the effective date of the Act and will increase to 2% in the next 2 years. The Philippines is in need of 150 million liters of bio diesel per year and is expected to double in the next 5 years.

CEO Tecson adds, "There is only one existing biofuel company here in the country, Chemrez Phil., with only 60 million liters production per year, not enough for the country's bio fuel demand and Chemrez is using coconut oil as feed stock. Food-fuel competition will be their future problem."

Jatropha oil is inedible oil, not fit for human consumption, so by using Jatropha as feed stock, Green Gold Ray Energies is exempted from the "Food for Fuel Controversy." This information from here