ALTERNATIVE ENERGY NEWS
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Irvine-based Universal Bioenergy's subsidiary inks supply deal
Move is expected to generate millions of dollars in revenue.
By Casey GomezPublished: August 24, 2010 03:16 PM
NDR Energy Group – a subsidiary of Irvine-based Universal Bioenergy Inc. – has inked a deal to supply natural gas to CenterPoint Energy Resources Corp. The transaction is projected to generate millions of dollars in revenue for Universal.
"We're very excited about this opportunity to partner with CenterPoint Energy Resources,” said NDR Energy CEO Gina Roy. “With this agreement, NDR Energy has the opportunity to assist CenterPoint in providing clean natural gas to its 3 million residential, commercial and industrial customers for its service area."
Houston-based CenterPoint Energy Resources Corp. is a subsidiary of CenterPoint Energy Inc., the nation’s third largest publicly traded gas distribution firm. The company reported 2009 revenues of $8.2 billion – including $3.7 billion for its National Gas Distribution operations. The parent firm services 3.2 million customers in six states: Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas.
Universal is an alternative energy company that aims to create and market natural and alternative power sources, as well as related technology products. Founded in 2007, the company hopes to build Universal into a prominent player in the alternative energy industry.
"As part of our growth strategy, this is really a monumental step for us,” said Universal CEO Vince Guest. “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.”
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"We're very excited about this opportunity to partner with CenterPoint Energy Resources,” said NDR Energy CEO Gina Roy. “With this agreement, NDR Energy has the opportunity to assist CenterPoint in providing clean natural gas to its 3 million residential, commercial and industrial customers for its service area." Houston-based CenterPoint Energy Resources Corp. is a subsidiary of CenterPoint Energy Inc., the nation’s third largest publicly traded gas distribution firm. The company reported 2009 revenues of $8.2 billion – including $3.7 billion for its National Gas Distribution operations. The parent firm services 3.2 million customers in six states: Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. Universal is an alternative energy company that aims to create and market natural and alternative power sources, as well as related technology products. Founded in 2007, the company hopes to build Universal into a prominent player in the alternative energy industry. "As part of our growth strategy, this is really a monumental step for us,” said Universal CEO Vince Guest. “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.” Related headlines Green Wave Energy plans to enlighten the community Garden Grove-based House Foods sees green BlueFire adds ‘Renewables’ to its name |
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