Apr 20 2010
Universal Bioenergy Inc. has inked an agreement and closed the transaction with energy consulting company NDR Energy Group LLC. The two companies are likely to establish a new alternative energy company. On April 14, 2010, a Form 8-K was provided to the Securities and Exchange Commission detailing the transaction information.
NDR Energy Group markets fuel and energy including natural gas. In 2009, NDR Energy Group marketed $60–$70 million in fuel and energy. NDR Energy Group in collaboration with Universal Bioenergy plans to enter into solar, alternative fuels, biofuels, retrofits and energy efficiency conversion assignments. NDR Energy Group has agreements with Pacific Gas & Electric (PG&E), Southern California Gas Company, NICOR, Baltimore Gas & Electric, the National Grid and Michigan Consolidated Gas (MICHCON). The company is in negotiation for contracts with 14 leading utility suppliers and companies.
The CEO of Universal Bioenergy Vince M. Guest stated that the company in partnership with NDR Energy Group aims to achieve natural gas sales of $1 billion within the next one year. Moreover, the contracts that NDR Energy Group has with 22 utilities will help them achieve fuel sales of around $3 billion with the next two years. Universal Bioenergy’s 49% stake acquisition in NDR Energy Group will provide the company with multiple channels for marketing alternative fuels, solar, biofuels as well as green energy efficiency solutions to customers.
Source: http://www.universalbioenergy.com/