Agreement with CenterPoint Energy Resources Corp. to supply natural gas.
IRVINE, Calif., PRNewswire-FirstCall [WorldofCogeneration.com]
— NDR Energy Group, a subsidiary of Universal Bioenergy, (OTC Bulletin Board/Pink Sheets: UBRG), has signed an agreement to supply natural gas to CenterPoint Energy Resources Corp., a wholly-owned subsidiary of CenterPoint Energy Inc. (NYSE:CNP) . CenterPoint Energy Inc., reported revenues of $8.2 Billion, including $3.7 Billion for their National Gas Distribution operations in 2009. CenterPoint Energy Inc., is the nation’s third largest publicly traded gas distribution company, with 3.2 million customers in six states, including Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas.
NDR Energy’s CEO, Gina Roy, states, “We’re very excited about this opportunity to partner with CenterPoint Energy Resources. With this agreement, NDR Energy has the opportunity to assist CenterPoint in providing clean natural gas to its three million residential, commercial and industrial customers for its service area.”
Universal’s CEO, Vince Guest, says, “As part of our growth strategy, this is really a monumental step for us. The agreement limits us from disclosing the details, however we believe, although we cannot guarantee, this CenterPoint transaction should generate millions of dollars in revenues for us. We feel this should have a significant impact on Universal’s market value, assets and have a positive effect on our shareholders. The timing is perfect, since we’re near to bringing our financial reports and filings current, as we announced in our Form 8K filing on August 2, 2010.”
“This is a very great development for NDR. CenterPoint is a quality driven organization, and one of the largest gas companies in the nation. We believe that procuring a contract with an $8 billion energy company like CenterPoint speaks volumes about NDR Energy. As a Houston native, I feel this will be the beginning of a long and profitable relationship,” says Ken Harris, NDR’s Chief Operating Officer.
About The Company
Universal Bioenergy Inc. is an alternative energy company, and intends to create and market natural and alternative energy sources including natural gas, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to build the company into a prominent player in alternative energy.
Safe Harbor Statement – 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.
Source: Universal Bioenergy, Inc.