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GreenGold Ray Energies, Inc.: GreenGold Ray Energies (Symbol: GRYE) Capitalizes on Huge Market for Biodiesel in 2010

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^{Published in Business and Finance on Thursday, July 30th 2009 at 6:35 GMT, Last Modified on 2009-07-30 06:35:20 by Market Wire}  

CAGAYAN DE ORO, PHILIPPINES--(Marketwire - July 30, 2009) - GreenGold Ray Energies, Inc. (PINKSHEETS: [ GRYE ]) announces evidence for a huge market for biodiesel in 2010, while GRYE continues to capitalize on this golden opportunity.

 Morgan Stanley's Projected World Demand for Biodiesel, 2010 (In Million MT) Region Demand ------------------------ ------------ European Union 10.2 ------------------------ ------------ North America 3.7 ------------------------ ------------ Asia 3.5 ------------------------ ------------ Latin America 0.3 ------------------------ ------------ TOTAL 17.7 ------------------------ ------------ Biodiesel Demand World Production of Biodiesel, 2005 (In Million MT) Country Production ------------------------ ------------ European Union ------------------------ ------------ Germany 1.70 ------------------------ ------------ France 0.51 ------------------------ ------------ Italy 0.40 ------------------------ ------------ Poland 0.10 ------------------------ ------------ Czech Republic 0.13 ------------------------ ------------ Slovakia 0.06 ------------------------ ------------ Others 0.30 ------------------------ ------------ USA 0.30 ------------------------ ------------ Malaysia 0.30 ------------------------ ------------ Singapore 0.25 ------------------------ ------------ Australia 0.25 ------------------------ ------------ Indonesia 0.20 ------------------------ ------------ Philippines 0.10 ------------------------ ------------ Total 4.60 ------------------------ ------------ 6 EU Biofuels Directive, US States Legislation; 7 European Union alone plans to lift share of biofuels from current consumption of 5 million tons p/a to 14 million tons a p/a, -- according to EU Biofuels directives, 8 According to NBB current production is approx. 75 million gal. p/a 9 [ http://archives.eesi.org/publications/CARB_Alert.PDF ]

The world biodiesel production capacity increased four-fold from 591,000 metric tons (MT) to a total of 2 million MT from 1996 up to 2002. In Europe, Germany, France and Italy lead the pack with the highest biodiesel production, where more biodiesel is produced than fuel ethanol. In Asia, the active producers of biodiesel are Malaysia, Indonesia and Singapore. Production of biodiesel continued to grow reaching 4.6 million MT (International Energy Agency, 2005).

Worldwide demand for biodiesel has grown from 30,000 tons in 1994 to 1 million MT in 2002 and was 5 times that volume by 2005. This is projected to grow to 17.7 million MT in 2010. The global demand for biodiesel will increase significantly due to the continuing increase in the price of petroleum fuel and the commitment towards the Kyoto Protocol by many European countries.

In the Philippines as well as the American government, biodiesel prices range closely with diesel prices because of a respective Philippine Government and US Federal Tax Incentive, which started in the Philippines in July, 2007 and in the US on Jan. 1, 2005. The incentive provides biodiesel manufacturers and distributors a $1-per-gallon subsidy for B100 or 1 cent for each 1 percent of biodiesel used in a fuel mix. We based our prices on the current US market prices and plan gradual price decrease as our sales grow. It's unlikely that biodiesel would become uncompetitive. Now the prices are competitive in comparison not only to alternative fuels (ethanol), but also to conventional energy sources, like electricity.

GreenGold (GRYE) offers fuels with the same performance as that of conventional diesel, at competitive prices and ecological safety. Our markets expand rapidly all over the world due to the growing ecological concerns and limited energy supply. Our target customers are located in the Philippines and other parts of the world. Our team's skills cover all aspects of creating and managing the biodiesel production project: organizing, financing, auditing, marketing, promoting business, solving technical and organizational problems.

The capacity of each processing plant being built today starts at 20,000 gallons up to 100,000 gallons per day. The full capacity can be reached by the end of the second operational year. The company has included in the business plan to put up biodiesel processing plants and refineries in at least two (2) major plantations sites or regions by the end of 2009 (Philippines and Texas USA), with an additional 2 Refinery Plants to be built by the end of 2010.

GreenGold's (GRYE) objective is to become one of the market leaders in the Philippines' Alternative Green Energy and Biodiesel Sector. Currently, we are cooperating with the leading local and international stakeholders in the biodiesel energy production business with regard to the engineering, design, construction, operation and financing.

CEO Tecson states that "Our mission and vision is to transfer state-of-the-art technology for the most environmental and human friendly energy generation, thus contributing to the economic and social progress of the Filipino citizens and the people in other host communities, by offering stable energy oil supply at affordable prices over a period of up to 35 years or more!"

About GreenGold Ray Energies Inc.

GreenGold Ray Energies, Inc. (PINKSHEETS: [ GRYE ]) is a rapidly growing biodiesel, green technology, environmentally friendly and alternative-renewable energy company. The Company has already solidified its position through a highly successful land acquisition program, acquiring large parcels of land through working alliances and joint venture partnership with landowners and growers, ideal for the cultivation of the jatropha curcas plant. Jatropha curcas grows almost anywhere, even on gravelly, sandy and saline soils. Jatropha oil can be processed to produce a high-quality biodiesel that can be used in a standard diesel car, while the residue can also be processed into biomass to power electricity plants.

Forward-Looking Statements

Forward-looking statements in this release include statements regarding the Company's projections regarding biodiesel, biofuels other alternative energy explorations and extractions in future periods. Penny Stocks are highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.