GEECF: Completes Biosphere Shaoxing Acquisition to Consolidate Chinese Businesses

NASSAU, Bahamas, Feb. 21  /PRNewswire-FirstCall/ -- Global Environmental Energy Corp., (Deutsche Borse: GLI, OTCBB: GEECF http://www.geecf.ru/ -) has on 24th January 2008 completed the restructuring of its Chinese businesses with the acquisition of 97.12% of Shaoxing (Biosphere) Company Limited, of Shengzhou, a company formed in the Peoples Republic of China in 2005 with a registered capital RMB 60 million.

Following on the success of the AnJi Biosphere project in 2007, GEECF decided to restructure its Chinese businesses to consolidate its revenue interest. When complete the Shaoxing business will see the deployment of 72 six megawatt per hour Biosphere Power Stations, with a complete capital investment of USD$1,440,000,000 and an expected EBIDTA of USD$1,061,961,993 per annum.

Shaoxing has been permitted by the State Environmental Protection Administration of China to build and operate its Biosphere Process Systems consuming municipal solid waste and generating saleable electricity anywhere in China

This consolidation has been made possible by the appointment of the Shenzhen Branch of the Yankuang Group Company Limited, to manufacture all Biosphere Power Stations in China. The Yankuang Group reported sales income for 2007 of CNY 35 billion, up by 11.78% year-on-year. Pre-tax profit was CNY 8.7 billion, up by 18.53% year-on-year.

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, [phone], PO Box CB-13277, Nassau, Bahamas



Web site:  http://www.www.geecf.ru/ 

Copyright