Vega Biofuels Secures Interim Financing For Green Energy Bio-Coal

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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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Green Energy Live, Inc. Update for 2011 - Business News

Kailua, HI (PRWEB) June 14, 2011
We are pleased to announce the appointment of Richelle Kim to the position of President and CEO of Green Energy Live, as of February 2, 2011.
GELV has relocated the company headquarters to Kailua Hawaii. GELV believes there are tremendous opportunities for Green Technology in the state.
The Hawai‘i Clean Energy Initiative is leading the way in relieving our dependence on oil by setting goals and a roadmap to achieve 70% clean energy by 2030 with 30% from efficiency measures, and 40% coming from locally generated renewable sources. Hawai‘i’s clean energy goals are the most aggressive in the nation – and if we succeed, we will become a world leader in clean energy. – HawaiiCleanEnergyInitiative.org
In 2010, Green Energy Live was unable to generate sufficient revenues to cover operational expenses and capitalize on the development of other green technology projects, which negatively impacted its stock price.
The Company was unable to obtain adequate financing to acquire Peck Electric and Electrocell, and, as a result, GELV has elected to withdraw its letters of intent. Green Energy hopes to re-establish negotiations with both companies at a later date when financing becomes available.
The financial circumstances of GELV have resulted in delayed filings of its audited financial statement. The Comanche acquisition has not been completed, and we hope to renegotiate our terms in the future and complete the acquisition.
Green Energy Live is still committed to developing green technology for fuel, farming and waste management. Various projects such as bio fuels, organic fertilizer and a patent pending gasification and heat monitoring process will continue to be part of our business model.
Ms. Kim believes that attention should also be focused on other green technologies that can produce revenues much sooner for the company such as solar, wind and hydro.
“We intend to pursue all projects that will generate revenues for GELV now and delay projects that are in early stage development until we have the resources to complete such projects. Though I commend the efforts by my predecessor, too much time and money has been directed towards projects that are not immediate revenue producing ventures.”
Ms. Kim has reduced operating expenses and is working on completing audited financials, hoping to re-establish Green Energy as a fully reporting company. “We hope by addressing this issue and implementing other new strategies we will improve the price of our stock for our shareholders.”
“We are recommitting ourselves to the mission of Green Energy Live, Inc.” says Ms. Kim.
About Green Energy Live (OTC Markets: GELV) Green Energy Live, Inc. is engaged in developing sustainable biomass-to-energy conversion technology to meet a critical need for the nation's $154 billion livestock industry. The company plans to use its proprietary gasification technology for the development of highly innovative, on-site manure-to electricity conversion systems to enable livestock farmers and ranchers to convert their animal waste into clean, renewable energy.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements include, without limitation, plans and expectations regarding the development of GELV's gasification technology and other projects and operations. GELV has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith based upon currently available information, and is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to: (1) GELV's need for additional financing, which is not assured and which may result in dilution of shareholders; (2) GELV's status as a small company with a limited operating history; and (3) regulatory restrictions in the production of bio-fuels. For a more detailed discussion of such risks and other factors, see the Company's 2009 Annual Report on Form 10-K, filed on April 17, 2010, with the Securities and Exchange Commission, and its other SEC filings. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, to update or provide advice in the event of any change, addition or alteration to the information contained in this news release including such forward-looking statement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
Contact: Investor Relations: 1-800-557-9572 Ext. 200
Green Energy Live, Inc.
http://www.greenenergylive.com
###
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Obama Hypes;Green Energy Plant That Shifting Operations

U.S. President Barack Obama shakes hands with employees as he tours a North Carolina manufacturing facility of energy efficient LED lights, Cree Inc., in Raleigh-Durham, June 13, 2011. From L-R are: Obama, Matthew Rose, CEO of GE Jeffrey Immelt and Chairman and CEO of Cree, Inc. Charles M. Swoboda. (REUTERS/Larry Downing)
Obama is traveling to North Carolina today to plug another green energy company. The company received $39 million in tax credits and at least $6 million in grants from the Department of Energy. Cree makes LED lighting products.
And, it’s shifting operations to China.
The Daily Caller reported:

President Barack Obama will visit the North Carolina-based Cree LED Light Company Monday to tour the plant and meet with his Council on Jobs and Competitiveness to discuss job creation and policies to spur economic growth. But Cree, a major recipient of Recovery Act funds, may be sending that money straight to China.
At the very least, its CEO, Chuck Swoboda, has a very China-centered strategy that involves building a new plant overseas, two facts that the Republican National Committee plans to highlight Monday morning prior to the president’s visit. Cree received a $39 million as an Advanced Energy Manufacturing Tax Credit from the Recovery Act.
The company began developing clean energy technology, hired a few more hundred workers, and the administration touted it as a “true American success story” on the White House Web site. Then in late 2010, the company opened its first plant in Huizhou City,China. That made Cree the first global LED company to locate a manufacturing plant in China…
“This is just another example of an administration that talks about an economy that has turned around while ignoring what is happening to American families who are struggling to find jobs, pay higher food and gas prices and are dealing with the decline of their home value,” one Republican source told The Daily Caller.

Experts say that Obama’s visit today highlights his failed economic policies.

“It’s ironic that Obama’s jobs panel is meeting at the headquarters of a company that received millions of dollars of taxpayer money. Rising unemployment is evidence that Obama’s clean energy plan did not work as he had hoped, yet the president is stubbornly adhering to his fantasy of creating a clean energy economy,” said Tom Borelli, Ph.D., director of the National Center’s Free Enterprise Project.
“The failure of Obama’s job’s panel is really not surprising since the group is packed with green energy and cap-and-trade cheerleaders such as GE CEO Jeff Immelt, green energy venture capitalist John Doerr, DuPont CEO Ellen Kullman and NextEra Energy CEO Lewis Hay,” added Tom Borelli.

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Oregon green energy tax breaks face sweeping changes, cutbacks

  Jamie Francis/The OregonianBig wind farm would no longer get Oregon tax subsidies under a bill that dramatically changes the state's green energy incentives.SALEM -- Oregon's practice of channeling ever higher sums of taxpayer dollars into big wind farms and other green energy projects appears to be coming to an end in favor of thriftier and more targeted conservation incentives.  
A bill introduced Thursday at the Legislature would eliminate the controversial, free-spending Business Energy Tax Credit and replace it with a series of smaller and far more limited tax breaks.
If adopted in its current form -- and the proposal seemed to gain instant momentum -- the bill could save the state hundreds of millions of dollars. It also could signal a broader cultural shift at the Legislature, which has struggled in recent years to trim even the smallest tax breaks.
"It really addresses that uncontrolled growth, that uncontrolled balloon," said Rep. Jules Bailey, D-Portland, who helped draft the changes contained in House Bill 3671. "It helps us move to a clean energy economy but without that runaway spending."
Problems with the tax credits, including their explosive cost to the state, have been the subject of a number of investigations by The Oregonian. Last year, lawmakers established some caps but largely left the incentives intact.
The latest bill calls for a sweeping restructuring of the subsidies that were championed by former Gov. Ted Kulongoski. One legislative staff member referred to the bill as "a type of euthanasia for the existing BETC."
As written, the bill would stop the practice of subsidizing half the construction cost of wind and solar energy developers, who receive tens of millions of dollars worth of tax credits. It also would stop the long-running policy of giving state tax rebates to consumers who buy energy efficient appliances and hybrid cars, and to businesses that replace old lights with modern energy efficient ones.
Furthermore, it would phase out the subsidies that gave free or discounted bus passes to everyone from Portland high school students to Nike employees.
"We need to use transit to get kids to school, I get that," said Rep. Vicki Berger, R-Salem, co-chair of the Joint Committee on Tax Credits, which is working on the bill. "This is the wrong way to pay for it."
The bill does not affect the tens of millions of dollars in state tax subsidies for companies such as SolarWorld and SoloPower that manufacture alternative energy components. That program, viewed more as a way to attract jobs and capital to Oregon rather than as a way to save energy, sunsets in 2014 and will be reviewed then.
Nor does the bill cut off tax credits for wind, solar, wave and other alternative energy projects that already qualified under the current rules. As a result, the state is still on the hook for between $100 million and $150 million a year well into the future as those projects are built and the companies use their credits.
In broad terms, the bill allows the Business Energy Tax Credit to expire, but creates three new categories of conservation programs that qualify for tax breaks and puts a lid on how much the state can spend on them. Spending on energy generation would be capped at $1.5 million a year, vastly lower than the millions currently spent. The other two, conservation and transportation, would be capped at $20 million a year and $10 million a year, respectively.
Notice of the changes caught many by surprise and sent a stream of lobbyists into the committee's packed hearing room to plead to keep the tax credits flowing and warn that businesses already hard hit by the recession would suffer.
Lincoln Cannon, who represents the Oregon Forest Industries Council, urged the committee to leave tax incentives for biomass energy intact. It's an emerging industry that still needs help to get going, he said.
The bill extends tax credits for biomass but greatly reduces their value.
"You guys have to make hard decisions," Cannon said. "For better or worse, there will be consequences."
 Sen. Mark Hass, D-Beaverton, said he sees a marked shift in the way the Legislature handles tax breaks and incentives. In 2009, lawmakers agreed to add sunset clauses to all tax giveaways.
"The tables have been turned," Hass said. In the past, it was incumbent on lawmakers to make the case that a tax break was too expensive or no longer useful. And it required a three-fifths vote in both chambers to kill a tax break.
Now, he says, those who get the breaks must prove their worth, or they go way.
"It's really remarkable," Hass said. "It's just a dramatic cultural change."
-- Harry Esteve

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Alex Salmond green energy policy will double power bills

Alex Salmond’s public attacks on Scottish Power’s price rises have been undermined when a leading expert warned the SNP’s energy policy will lead to household bills doubling within a decade.
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Households will have to deal with even bigger increases in energy bills this year if all six big suppliers follow the lead set by Scottish Power. [!] Report this news to staff Processing your request, Please wait.... Report as:
Finance Secretary John Swinney seeks an urgent meeting with Scottish Power over energy price increases. Report this news to staff Processing your request, Please wait.... Report as: Invalid Contents Broken link Privacy Violation Inappropriate Contents Other Write in Words:
Energy bills could rise by almost £200 per household this year if all six big suppliers follow the lead set by Scottish Power. Report this news to staff Processing your request, Please wait.... Report as: Invalid Contents Broken link Privacy
Suppliers are set to squeeze an extra £3.6 billion a year out of families if they follow Scottish Power’s lead and increase bills. So, what’s behind the increases and how can you fight back, like the Rowlands (pictured)? [!] Report this news to staff Processing your request, Please
Every household was supposed to receive an annual energy statement from its supplier by the start of this year. Have you received one? I haven’t, neither has any of my colleagues, writes Tony Hazell. [!] Report this news to staff Processing your request, Please wait....
Ministers plan an abrupt change of policy in an effort to rescue tens of thousands of jobs and billions of pounds of investment promised by Britain’s solar energy industry, which are threatened by Treasury cuts. [!] Report this news to staff Processing your request, Please wait....
Alex Salmond has made an unprecedented personal attack on one of Scotland’s most senior judges by arguing that his rulings were allowing the “vilest people on the planet” to win compensation from the taxpayer. [!] Report this news to staff Processing your request, Please wait....
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Top Ten Green Energy : Good News Stories Informed Comment

1. Environmentalists and peace advocates are hoping that cooperation on solar energy projects can help foster peace between Israelis and Palestinians. What this article doesn’t say is that such cooperation might also allow the two sides to avoid future conflicts over resources. The gas fields off the coast of Israel and Gaza could become an object of competition. And there is a looming water crisis that could drive conflict, which might be averted by solar-powered water purification plants. Green energy can also possibly avert the worst impact on the Middle East of global climate change, which will hit Israelis and Palestinians disproprotionately.
2. Saudi Arabia plans to become, well, the Saudi Arabia of solar energy production. Plans are being made to stretch power cables to Egypt, where the population of 82 million is hungry for energy. While Egypt has great solar potential of its own, it is oil-rich Saudi Arabia that has the spare cash to invest at the moment in solar installations. And few places on earth have more sunlight and less flora and fauna than the Kingdom’s Empty Quarter. (Saudi and other plans for nuclear plants may have been muted by the Fukushima disaster).
3. The photovoltaic plant at Masdar City in the United Arab Emirates not only powers a major research facility in the city but exports extra power to the UAE grid. AME Info writes, “Masdar Power is currently constructing the 100MW Shams One, one of the largest concentrated solar power plants of its kind in the world and the largest in the Middle East. Located at Madinat Zayed, 120km southwest of Abu Dhabi city, the project, is on schedule for completion towards the end of 2012.”
4. In Turkey, GE is pioneering with a half-gigawatt hybrid power plant that combines wind, solar and natural gas.
5. There have been “ferocious” cost reductions in the price of solar energy. And, the industry is growing by leaps and bounds. The equivalent of 17 nuclear reactors’ worth of solar installations shipped in 2010.
6. State and federal tax policy has helped boost wind power over gas and coal in states with high wind potential. States that don’t encourage renewable energy by tax policy are essentially committing mass murder against future generations (present tax policy often favors hydrocarbons unfairly and, criminally).
7. Brazil is seeking to triple its renewable energy generation by 2020, with an emphasis on wind. The government is investing in the renewables much more than in hydrocarbons.
8. Google is increasing its research and development budget for its program to make solar energy cheaper than coal, and is working on grid issues, as well.
9. Global solar capacity grew 73% in 2010. Solar is still only about .5% of global electricity production, but that is an enormous increase over only half a decade ago, and the prospects are for big leaps forward over the next decade.
10. The largest wind farm in Europe has just begun production in Scotland. It will power 250,000 homes. Scotland has made it of the highest priority to get 100% of its energy from renewable sources by 2025, among the most ambitious such plans in the world.
The reason these stories are so important, despite the so-far small contribution of wind and solar to world energy production, is that they point to a near future in which they generate a substantial proportion of the world’s electricity. We are in a race with disaster because of the ever-increasing amounts of carbon dioxide and soot we a spewing into the atmosphere. We are at 393 parts per million of carbon now, up from 380 only a couple of years ago. 450 ppm of atmospheric carbon has been identified by scientists such as James Hansen as the point at which life on earth as we know it begins to look unsustainable. We’ll be there in short order if current trends continue.
These charts from the NOAA Mauna Loa Observatory may tell the striking story of a human species marching to a doom at its own hands, not only blithely unaware of the approaching calamity but actively denying it out of a tragic mixture of greed, shortsightedness and stupidity.

C02 at Mauna Loa Observatory
See
James Hansen, Storms of My Grandchildren: The Truth About the Coming Climate Catastrophe and Our Last Chance to Save Humanity for a clear outline of the scale of the challenge.
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