GEECF: An Ji Biosphere Update: USD$11,000,000 Financing Complete

NASSAU, Bahamas, May 31  /PRNewswire-FirstCall/ -- Global Environmental Energy Corp (Bahamas) (Trading Symbols: Deutsche Bourse GLI (DE: GLI)- USA (OTC:GEECF) (BULLETIN BOARD: GEECF)  subsidiary Biosphere Development Corp., confirmed today that their Chinese partners have received the last installment of their USD$11,000,000 financing to complete construction of the An Ji project.

Civil engineering work at Biosphere's first Chinese site in the City of An Ji in Zheijiang Province has been ongoing for some time. Construction has included the provision of transport infrastructure, the construction of facilities to house both the garbage sorting and pelletizing equipment and the Biosphere Process(TM) System with its boiler, turbine and generator package and the provision of waste water collection and treatment facilities.

Additional Biospheres' for An Ji will be manufactured by International Environmental Energy Corporation (IEEC) under license from Biosphere Asia Pacific Company Limited.

The system being installed at Anji was sold at a price of USD$8,500,000 and is one of 36 systems sold for USD$306,000,000 and being sited in China this year. In addition to revenue derived from system sales, Biosphere will participate in the operating profits from the An Ji project through its shareholding in Hong Kong based Biosphere Asia Pacific.

Global is a Bahamian Company publicly traded on stock markets in Germany and the United States. Biosphere is a subsidiary of Global. Global maintains a web site at http://www.gli-geecf.com/ which provides relevant current company information, news releases, and free access to "Real Time Level II Quotes" charts and SEC filings to Global shareholders.

This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. 

DATASOURCE: Global Environmental Energy Corp



CONTACT: Global Environmental Energy Corp, [phone],





Web site:  http://www.gli-geecf.com/ 

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