IRVINE, Calif., Dec. 30, 2010 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG), announced that its subsidiary NDR Energy Group LLC, a natural and alternative energy company, is on target to reach sales forecasts of over $50 million for the fiscal year ending 2010.
The sales reflect a growing demand for natural gas from its major electric utility customers, and the rising demand in the energy services sector. NDR Energy Group generated these solid sales in natural gas, in spite of the current weak economy.
NDR Energy's President and CEO Gina Roy states, "I'm very pleased with the great results we've achieved this year, and the amounts of gas we've sold to our customers. We're very confident in our long-term plans to build a solid company, with strong revenues and earnings. We still have the ability to sale a greater amount of gas to our 22 major electric utility customers. With the new joint venture Universal has with ProGas Energy Services and Texas Gulf Oil & Gas, we fully expect to strengthen our position in the energy market. NDR was very aggressive in marketing to grow our revenues this year. I believe we should be on track to exceed over $50 million in sales this year, and possibly achieve greater sales in 2011."
According to the Energy Information Administration, (EIA), the United States used approximately 22.84 trillion cubic feet (Tcf) of natural gas in 2009. About 25% of all energy used in the United States in 2009 came from natural gas. It is also one of the cleanest burning fossil fuels. In 2009, natural gas made up almost 24 percent of net power generation with 931,000 Megawatt-hours (MWH) of electric power generated from natural gas. According to the U.S. Department of Energy, consumption of natural gas will increase 20% by 2030.
About Universal Bioenergy
Universal Bioenergy Inc. is an alternative energy company, that markets natural gas and green alternative energy, and is expanding into solar, biofuels, wind, synthetic fuels and related clean energy technology products. It plans to build the company into a prominent player in alternative energy.
- 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.
CONTACT: Universal Bioenergy Inc. Vince Guest (888) 263-2009 Fax: (951) 281-4653 Media Relations 888-263-2009