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Four Rivers (Operating as Verta Energy) Announces Joint Venture with Noble Solar Industries to Develop Solar Energy Projects in

^{Published on 2011-02-10 08:50:36 - Market Wire}
 

LONDON--([ BUSINESS WIRE ])--Four Rivers BioEnergy Inc. (OTCBB: FRBE)(a4Riversa) today announced that it has entered into a Memorandum of Understanding (aMOUa) with Noble Solar Industries (aNoblea), as a joint venture partner, to exclusively develop solar energy projects in the UK.

"Noble Solar Industries is a recognised leader in the solar energy market and I believe will be a strong partner for 4Rivers as we look to maximise value from our existing assets and consider potential expansion of our operations in the UK"

Noble is one of the worlda™s premier manufacturers of both monocrystalline and polycrystalline PV solar modules. Noble has manufacturing operations in China, as well as distributors in many European countries, India, Africa and the Middle East, and storage warehouses situated in the UK and Central Germany. They currently have the capacity to manufacture 350 MW of solar panels per year and are currently expanding their facilities to manufacture 700 MW of solar panels per year by 2012.

The MOU outlines a joint venture, whereby the partners will operate on a 50:50 basis for all UK projects. The first of these projects is planned for development in phases up to 10 MW at 4Rivers' 41 acre industrial site and adjacent land assets, located in Northumberland, North East England.

The joint venture partners, will utilise Noble's cutting edge technology, which as a first phase, will be installed inside 4Riversa™ 41 acre site on undeveloped land, along with the roofs of existing buildings. In subsequent phases, the joint venture partners intend to develop part or potentially all of the approximately 100 acres of land adjacent to 4Riversa™ 41 acre site (the majority of which is already zoned for industrial use). The export of renewable power to the grid will be facilitated by 4Riversa™ existing sub-station infrastructure.

4Rivers and Noble will immediately commence a period of mutual due diligence, with their plan being to execute formal documentation and commence installation of the first phase of the project during the second quarter of 2011.

The joint venture partners will work closely with TradeLink Solutions Limited, the energy consultant recently appointed by 4Rivers, to establish the optimum commercial solutions for the project, in line with UK Regulations and renewable energy incentive schemes.

The joint venture partners are considering additional sites in the UK to develop solar energy projects, and as appropriate, 4Rivers will also independently consider opportunities to develop Integrated Waste-to-Energy plants at such sites.

4Riversa™ Chief Executive Officer, Stephen Padgett, commented,aI am delighted to have reached this initial agreement with such a distinguished partner as Noble Solar Industries. This opportunity fits perfectly with our overall business strategy, by providing our company with the unique opportunity to integrate a more diverse revenue stream from renewable energy generation at our UK site, creating value from currently underutilised and undeveloped land assets.a

aNoble Solar Industries is a recognised leader in the solar energy market and I believe will be a strong partner for 4Rivers as we look to maximise value from our existing assets and consider potential expansion of our operations in the UK,a concluded Mr. Padgett.

About Four Rivers BioEnergy Inc.

Four Rivers BioEnergy Inc. is focused on realizing the potential to produce and sell energy (in the form of electricity) from sustainable waste and renewable feedstocks. The Company operates under the trade name Verta Energy. Our business model involves the vertical integration of the energy production cycle from feedstock procurement and processing through to electricity generation and sale, all within one business model and on integrated industrial sites. The Company is presently in the final phases of completing its first Integrated Waste to Energy Plant on an industrial site in the UK, which it acquired in 2009.

To find out more about Four Rivers BioEnergy Inc (OTCBB: FRBE), visit our website at[ http://www.riv4ers.com ].

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's good faith views and expectations when made. Forward-looking statements are inherently subject to known and unknown risks and uncertainties which, in the case of the company, include raising adequate capital to continue operations, technology and product development uncertainties, competition, cost and availability of feedstock, and plant development and manufacturing scale up. Actual results may differ, perhaps materially, from those discussed in the forward-looking statements. The company discussed in this release is not obligated to update its forward-looking statements or comment on those differences. Readers are encouraged to refer to the recent public filings of the company to further ascertain the risks associated with the forward-looking statements. Readers are urged not to place undue reliance upon such statements.