2007'02.02.Fri
GEECF: An Ji Biosphere Update: USD$11,000,000 Financing Complete
May 31, 2006
NASSAU, Bahamas, May 31 /Xinhua-PRNewswire/ -- Global
Environmental Energy Corp (Bahamas) (Trading Symbols:
Deutsche Bourse GLI (DE: GLI)- USA (OTC Bulletin Board:
GEECF) subsidiary Biosphere Development Corp., confirmed
today that their Chinese partners have received the last
installment of their USD$11,000,000 financing to complete
construction of the An Ji project.
Civil engineering work at Biosphere's first Chinese
site in the City of An Ji in Zheijiang Province has been
ongoing for some time. Construction has included the
provision of transport infrastructure, the construction of
facilities to house both the garbage sorting and
pelletizing equipment and the Biosphere Process(TM) System
with its boiler, turbine and generator package and the
provision of waste water collection and treatment
facilities.
Additional Biospheres' for An Ji will be manufactured
by International Environmental Energy Corporation (IEEC)
under license from Biosphere Asia Pacific Company Limited.
The system being installed at Anji was sold at a price
of USD$8,500,000 and is one of 36 systems sold for
USD$306,000,000 and being sited in China this year. In
addition to revenue derived from system sales, Biosphere
will participate in the operating profits from the An Ji
project through its shareholding in Hong Kong based
Biosphere Asia Pacific.
Global is a Bahamian Company publicly traded on stock
markets in Germany and the United States. Biosphere is a
subsidiary of Global. Global maintains a web site at
http://www.gli-geecf.com which provides relevant current
company information, news releases, and free access to
"Real Time Level II Quotes" charts and SEC
filings to Global shareholders.
This press release contains forward-looking information
within the meaning of Section 27A of the Securities Act of
the 1933 and Section 21E of the Securities Exchange Act of
1934, and is subject to the safe harbor created by those
sections.
For more information, please contact:
Global Environmental Energy Corp
Tel: +1-242-323-0086
Email: global@coralwave.com
SOURCE Global Environmental Energy Corp
PR
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