VANCOUVER, May 31, 2011 /CNW/ - Carbon Friendly Solutions Inc. (CNSX: CFQ) ("CFS" or the "Company") is pleased to announce that its wholly-owned
subsidiary, Global CO2 Reduction Inc., has acquired 51% of biomass
producer CARBIOPEL - ECO STREAM S.A., Poland ("CARBIOPEL").
The pellet producer - CARBIOPEL is projected to yield 20,000 tons of
pellets during 2011 with estimated revenue of USD $3.4 million, 40,000
tons by the end of 2012 and a minimum of 80,000 tonnes by the year 2016
with estimated revenue USD $11 million. CARBIOPEL has contractual
agreement to purchase production of pellets with GDF SUEZ ENERGIA
POLSKA S.A. subsidiary of GDF SUEZ - SA (publicly traded at EURONEX:
GSZ, Share price €25.42 = CAD $35.48).
GDF SUEZ - SA is in the process of constructing a 190 MW biomass power
unit (world's largest), which will become fully operational by the end
of 2012. It will reduce CO2 emissions by 1.2 million tons per year. GDF
SUEZ is currently the third largest renewable energy producer in Poland
and it's portfolio of renewable energy, accounts for 20% of worldwide
power capacity. Biomass power unit will strengthen Poland's commitment
to produce more than 15% of its electricity from renewable sources by
2020. Poland has large biomass resources such as wood and agri-fuels,
which can be used for electricity production, thus helping to reduce
carbon emissions. CARBIOL as a partner for the GDF SUEZ ENERGIA POLSKA
S.A by increasing their own production will be one of the largest
suppliers of biomass for the newest biomass GDF's power unit.
The European Union (EU) has a target to generate 20 per cent of its
total energy requirements from renewable sources by 2020. "Biomass is one of the most important resources for reaching our
renewable energy targets; it already contributes more than half of
renewable energy consumption in the EU, providing a clean, secure and
competitive energy resource," says The European Commission's energy
commissioner Günther Oettinger.
Vice President of Carbon Friendly Solutions Inc. and the CARBIOPEL - ECO
STREAM S.A. Supervisory Board Member Slawomir Smulewicz stated: "It is enormous opportunity to work with strong partners in a
well-established and rapidly growing renewable energy market in The
About Carbon Friendly Solutions Inc.
Carbon Friendly Solutions Inc. through its subsidiaries is focused on
the development of clean energy technology, renewable energy and
reforestation projects. MicroCoal Inc. (Denver, CO, USA) is a leading clean energy company focusing on
commercializing the use of its patented technologies to decontaminate
and upgrade low-rank coals to match the energy levels of high-rank
coals for use by power utilities. Carbiopel - Eco Stream S.A. (Lezajsk, Poland) is operating biomass producer in Poland - part a
rapidly growing renewable energy market in The European Union. CO2
Reduction Poland Sp. z o.o (Warsaw, Poland) through cooperative action
with several private land owners is implementing an afforestation
project in Poland to restore forest cover on disused agricultural land
including the generation of carbon credits for sale in the global
Voluntary market. Global CO2 Reduction Inc. (Vancouver, BC) is a holding company for CFS subsidiaries in Europe.
On behalf of the Board of Directors
Carbon Friendly Solutions Inc.
President and Director
Certain statements included in this News Release contain forward-looking
statements, including disclosure concerning possible or assumed future
results of operations of the Company. Forward-looking statements
typically are preceded by, followed by or include the words -
"believes", "expects", "anticipates", "estimates", "intends", "plans",
or similar expressions. Forward-looking statements are not guarantees
of future performance. They involve risks, uncertainties and
assumptions, and the Company's results could differ materially from
those anticipated in these forward-looking statements.
We seek safe harbor.
SOURCE Carbon Friendly Solutions Inc.
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