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NORCROSS, Ga., -- VEGA BIOFUELS, INC announced today that the Company has secured the necessary funding to proceed with its plan to build a green energy bio-coal manufacturing plant in Cordele, GA.
Vega has entered into a Loan Agreement with a group of its existing shareholders that will provide the Company with the necessary funding needed for various expenses associated with the design and construction of the proposed South Georgia manufacturing plant. Funding is in the form of a five hundred thousand dollar line of credit and allows the Company to draw on those funds as needed moving forward.
Vega recently announced plans to build a manufacturing plant in South Georgia that when completed will produce green energy bio-coal for use in existing coal fired power plants around the world. The manufacturing plant will be located in Cordele, Georgia.
"This is a very important first piece of our overall funding plan," stated Michael K. Molen, Chairman/CEO of Vega Biofuels, Inc. "There are a lot of expenses associated with the planning and development of a project of this magnitude. First funds are always the most difficult to find. These funds will allow us to move forward with our plans without having to dilute our securities by conducting a Private Placement. We appreciate the confidence our shareholders have in what we are doing. We will have more information concerning additional funding for the project as we move forward."
The Company made the decision to locate the biomass manufacturing plant in Crisp County after members of it management team met with the Crisp County Industrial Development Council (IDC) earlier this year to discuss their assistance with locating a site for the plant, tax abatements, and various job credits available to Vega if the Company located its plant in their county.
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Wednesday 15 June 2011
Green Energy - How to Use Green Energy at Home and in Your Daily Life
Green energy is much more easily accessible than you think. It is often simple to use as well. More importantly, you can save a lot on gas and electricity bills if you use energy from renewable resources in your daily life and at home.
Solar energy is the most accessible green energy for the average home owner at present. You have a variety of options for using it. You can build or buy a house that uses solar energy passively. Many recently build homes are specifically designed to have greater exposure to the sun and to retain more of the light and heat that fall on it. Additionally, many such homes have active solar heating systems that allow you to heat your home using solar power only or at least partially.
There are a lot of things you can do to use solar green energy in your current home. You can buy an electricity generating system with solar panels and a converter and connect it to your home's electricity system. At present, such systems are costly, but the government provides tax relief to home owners who invest in such systems. In general, such an investment will certainly pay off in the long run.
If you cannot afford to invest in getting electricity for your entire home from solar energy, you can readily heat and light certain parts of it, such as your swimming pool and garden. Solar water heating systems as well as solar outdoor lamps are readily available at affordable prices.
Hydropower and wind energy are usually exploited fully by dams and wind farms, but you can readily harness these types of green energy at home as well. If you have running water on your property, you can readily have a small hydropower electric system. Similarly, if you have at least one acre of free land and there regular strong winds in your area, you can use a small wind electric system. The installation of such systems may be costly, but you will be able to use absolutely free energy for decades.
Biofuels are now more easily accessible than ever before. They are affordable and work well to power you car, provided that it is designed to work on such fuels. You can readily choose from ethanol and biodiesel. You can also use natural green energy sources for heating your home or parts of it.
You may think that wood and biobased pallets may not be the best choice as harmful particles are emitted into the air from burning. However, there are many new appliances that are particularly designed to make the use of wood and biobased pallets safer for you and the environment.
You have a variety of options for using green energy, so you should not hesitate to take advantage of as many of them as possible. At the same time, you can save even more money and protect the environment better, if you save energy in general. There are many different was for using energy more efficiently. These range from buying energy-saving appliances to collecting rainwater in barrels to water your plants rather than using tap water.
James L. Raft is a writer for a website which covers renewable energy information, wind energy and power and more.
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