Universal Bioenergy Inc. has announced that NDR Energy Group, its subsidiary, was awarded a contract to supply natural gas to one of the largest gas and electric utility companies in the United States for electric power generation.
Under the terms of the contract, NDR Energy Group is to deliver natural gas supplies for the customer’s electric power generation plants for one to three months, starting on July 1, 2012. The contract is projected to generate million of dollars in revenue.
NDR Energy Group was awarded the contract by one of the largest combination natural gas and electric utilities in the United States. The Utility serves approximately 5.2 million electricity distribution customers and approximately 4.3 million natural gas distribution customers throughout a 70,000-square-mile service area on the west coast. Its parent company is traded on the NYSE and reported revenues of $15.0 billion in its 2011 annual report.
Universal Bioenergy is a high growth company that is rapidly growing at double-digit rates. NDR Energy Group markets and distributes natural gas and propane under contract to 28 of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customers throughout the country.
Universal’s President Vince M. Guest states, “This contract award represents another major achievement for NDR Energy in its shift to provide natural gas to electric utilities for power generation in additional to natural gas used for distribution and heating. This will build on our previous successes of natural gas sales to utilities for traditional residential, industrial and commercial usage. The sales of natural gas for electric power generation will be a key focus of NDR Energy’s sales strategy for this year and beyond. It will also offset some the impacts and the seasonal variances in demands of natural gas sales due to the fluctuations in weather conditions on the east coast and the mid-west. This is another great achievement for Ken Harris, NDR Energy’s President and his marketing team’s continued efforts in the transitioning of natural gas sales to the power generation segment of the utilities industry.”
The contract limits NDR Energy from disclosing the customer’s name and certain details of the transaction.
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784
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.