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GreenWorld Announces Plan to Develop and Build Waste to Energy Power Plants across USA, EU and Asia and Appoints New Directors

^{Published on 2011-09-29 05:08:33 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--GreenWorld Development Inc (OTCBB: GREW): The Company is pleased to announce its plan to develop and build 200MWT of utility scale Waste to Energy Power Plants across USA, EU and Asia until 2016 emerging as a global player in the fast growing sector. The projects when completed will generate revenues in excess of $250 million USD and treat 700,000 tons of waste.

"The company is proud to announce the engagement of a professional team with solid global expertise to drive and to support the companya™s mission and growth strategy. Further and additional management members will join the team soon"

GreenWorlda™s first UK Waste to Energy Centre will be based in Market Warsop in Nottinghamshire (UK). The site consists of 2.5 acres with sufficient area to install the aTyre to Energya plant and CHP to generate 7MW of renewable energy. The site has a waste transfer license allowing it to take in 100 tons of tyres per day, which provides sufficient feed stock for the planned energy generation; there is also space for the storage of 500,000 tyres. The company is in discussions to acquire further licenses in the UK and USA, in addition to the development of its OHIO facilities.

In a global market expected to reach $28.8 billion USD by 2015 as per market analysts, and with very few international players on a utility scale, the company plans to take advantage as first movers and to grow its business organically as well as through merger and acquisition of existing facilities in the target markets aiming at creating a consolidated portfolio of utilities globally and develop into an industry key player, says[ Leo J. Heinl ], GreenWorld Development Inc, CEO. aThe company is proud to announce the engagement of a professional team with solid global expertise to drive and to support the companya™s mission and growth strategy. Further and additional management members will join the team soon,a adds Mr. Heinl.

Patrick C. Lynch:

aThe global energy market is witnessing a shift from waste toward energy production over concerns on environmental pollution from conventional energy resources and landfill gas emission. Building waste to energy power plants is a very efficient solution. I am glad to be part of GreenWorld and participate in the success of its operation,a says Mr. Lynch.

A CPA by training, Patrick possesses a unique strategic vision and expertise in financial matters. With responsibilities for accounting, internal audits, SEC and Sarbanes-Oxley compliance, investor relations, commercial & investment banking, tax, and insurance, Patrick also gives credit to his team as a major force behind the growth of Interface.

Patricka™s undergraduate work was completed at The Citadel in Charleston, where he graduated cum laude earning a Bachelor of Science Degree in Business Administration in 1992. He then graduated from Georgia State University in Atlanta, simultaneously earning both a Juris Doctor Degree in Law and a Master of Business Administration Degree in 1998.

Patrick joined Interface in 1996 and was promoted to Assistant Corporate Controller in 1998. In 2000, Patrick became assistant Vice President and Corporate Controller, and was promoted to Vice President and Chief Financial Officer in 2001. He was promoted to Senior Vice President in 2007. Prior to joining Interface, Patrick previously held the title of Senior Accountant at a national accounting firm providing assurance, tax, financial advisory and consulting services to private and publicly traded businesses.

Marc Kramer

aThe demand for waste management solutions will remain regardless of economic stresses, and will continue to drive the installation of new waste to energy facilities. The volume of waste is escalating steadily because of growing populations, rising standards of living, and increased urbanization, this in addition to the rising oil prices and increasing demand for power are the major growth drivers for the WTE industry. I believe in the GreenWorld mission,a says Mr. Kramer.

Mr. Kramer is a Managing Director in the New York office of H.I.G. Capital. Marc has over fifteen years of private equity experience, investing across a number of industries in the middle market. He is responsible for all aspects of the investment process including orientation, transaction structuring and portfolio oversight.

Prior to joining H.I.G., Marc was a partner at Fenway Partners and led the firma™s practice in the transportation/logistics sector. Marc began his private equity career at Aurora Capital Group in Los Angeles, and focused on buy & build strategies in consolidating industries. Earlier in his career, Marc worked for Corporate Decisions Inc., where he focused on conducting strategic due diligence and growth strategies for private equity firms. Marc earned his MBA from Harvard Business School and a Bachelor of Arts with honors from Dartmouth College.

Mark Burkhalter:

aThe steadily escalating volume of waste, growing populations, rising standards of living, and increased urbanization, in addition to the volatile and rising oil prices and increasing demand for power are the major growth drivers for the Waste to Energy industry.This is creating significant market opportunities for the company,a says Mr. Burkhalter

Mr. Burkhalter is a Senior Strategic Advisor and Independent Consultant in the National Government Affairs practice of McKenna Long & Aldridge LLP. He also leads the firma™s public affairs and economic development initiatives in the United Kingdom.

Prior to joining MLA, Mark spent 18 years in the Georgia General Assembly, representing the Atlanta suburb of North Fulton County. He left office as the Speaker Emeritus, after having served as Speaker of the House and the Speaker Pro Tempore since 2004, a position to which he was elected with the bipartisan support of his colleagues. From 2003-2004 he served as Administration floor leader for Governor Sonny Perdue.

In 2008, Mark served on the Platform Committee of the Republican National Convention and was a leader for Governor Mitt Romney's Presidential campaign in Georgia. His political career also included serving on the legislative staff to U.S. Representative Newt Gingrich in Washington, DC.

Mark has earned many accolades, including being named twice by James Magazine as the amost influential politician in Georgiaa and named by GeorgiaTrend Magazine as one of the a100 Most Influential Georgians.a Mark earned his Bachelor of Arts in Global Studies/Political Science from the University of Georgia, and Bachelor of Arts in German and Slavic Languages from the University of Georgia.

[ Elizabeth A. Hanlon ]

aCombustible Solid waste is a resource and shouldna™t be land filled.Landfill gasses (methane) contribute significantly to global warming.Converting waste into energy in special facilities aWaste-to-Energy (WTE) Power Plantsa is emerging as a key sustainable and cost-efficient solution matching the growing demand for renewable energy in a carbon constrained world.I am pleased to be part of GreenWorld Vision,a says Ms. Hanlon.

Ms. Hanlon is a legal counsel and visionary with both executive and hands-on business experience at Interface Inc. Interface Inc is the worldwide leader in design, production & sales of environmentally responsible modular carpet for the commercial, institutional and residential markets. It is a leading designer and manufacturer of commercial broadloom.

Elizabeth negotiated purchases of large volume carbon offsets in wind, arun of the river,a™ forestation, and other VCS projects traded on APX and MARKIT.

Elizabeth also collaborated with sustainable buying groups in various industries, including hospitality and education. She is a member of the Sustainability Council.

Elizabeth earned her Juris Doctor from the University of Notre Dame Law School, a Masters of Business Administration from the University of South Florida, and a Bachelor of Business Administration from the University of Notre Dame.

About GreenWorld Development Inc.

GreenWorld Development Inc is emerging as a global key player in the Waste to Energy utility sector. The company focuses its activities on the development and operation of its own Waste to Energy power plants primarily in the USA, EU and Asia. The company plans to generate revenues out of its facilities by selling electricity to national grid operators, collecting gate fees on every ton of waste entering the facilities for treatment and selling residuals "left after the conversion of most of the waste into energy."

Forward Looking Statements

This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to GreenWorld Development Inc (aGreenWorlda), its business and prospective development plans. These forward-looking statements can be identified by the use of terminology such as asubject to,a abelieve,a aexpects,a aplan,a aproject,a aestimate,a aintend,a amay,a awill,a ashould,a acan,a or aanticipates,a or the negative thereof, or variations thereon, or comparable terminology, or by discussions of strategy. Although all of the forward-looking statements set forth in this press release are believed to be reasonable, actual results may differ materially from those expressed in forward-looking statements as a result of factors outside of the control of GreenWorld. GreenWorld cannot provide assurances that any prospective matters described in the press release will successfully close or otherwise be completed or that 3Power will realize the anticipated benefits of any such transactions. Important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in GreenWorlda™s Securities and Exchange Commission filings. Readers are cautioned not to place undue reliance on forward-looking statements. GreenWorld does not undertake and specifically disclaims any obligation to update, republish or revise forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrences of unanticipated events. All forward-looking statements should be regarded solely as GreenWorlda™s current plans, estimates and beliefs.