Builds on Bold Strategy Set at Business Summit to Create Solid Revenues and Shareholder Value for 2010
IRVINE, Calif., Jul 12, 2010 (GlobeNewswire via COMTEX) — Universal Bioenergy Inc. (Pink Sheets:UBRG) announced it is planning more strategic acquisitions, as it executes more of the plan of its new course, to diversify into more profitable alternative energy technologies. Universal is engaged in serious discussions with several companies for potential acquisitions in the solar, tidal, fuel, and commercial energy retrofit sectors of the industry.
At its Strategic Business Summit in Las Vegas, in December 2009, Universal announced it was charting a bold new course to grow by mergers and acquisitions, and by shifting its focus to invest in far more profitable alternative energy technologies. This will allow the Company to drive their business forward this year to build solid revenue and profits. As part of the execution of the plan, on April 12, 2010, Universal acquired a 49% stake in NDR Energy Group, a marketer of natural gas and energy. NDR Energy has firm contracts signed with 22 major utility companies nationwide, and marketed $60 – $70 million in energy and fuel in 2009.
“Now, we’re planning for more aggressive growth and expansion, by additional mergers and acquisitions, to generate significant revenues and profits. We’re also moving quickly to adapt our business strategy to become a vertically integrated company, to give us complete management control over our supply chain, from the producer, through marketing, distribution, and directly to the customer,” says Universal’s CEO Vince M. Guest.
Some of the companies being targeted are natural gas producers, to obtain natural gas and other fuels directly from the wellhead, and solar energy companies for polymer based thin film solar cells that may produce energy conversion efficiencies of 30%, with less cost than silicon based photovoltaic cells. Additionally, discussions are ongoing with other companies to build Tidal energy facilities, acquisition of energy technology patents and licenses, and others that have pending contracts to supply fuel to the U.S. Military.
Details regarding these transactions will be announced upon the signing of formal Letters of Intent. Although management is aggressively pursuing these opportunities, there can be no assurances that such acquisitions can be made, or if made, will be profitable for Universal.
About The Company
Universal Bioenergy Inc. is an alternative energy company, and intends to create and market alternative energy including natural gas, fuel, solar, biofuels, wind, synthetic fuels and other related energy technology products. It plans to build the company into a prominent player in alternative energy.
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There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.’s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
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SOURCE: Universal Bioenergy Inc.
CONTACT: Universal Bioenergy Inc.
Fax: (951) 281-4653