NEW YORK--(BUSINESS WIRE)--In a letter to company stockholders issued today, Mr. Asi Shalgi, chief executive officer of Global Energy, Inc. (OTCBB: GEYI)(“Company”), stated the following:
Dear Shareholders,
I would like to take this opportunity to personally address you and update you on the development status of our Company. Due to the confidential nature of our development work with some of our partners, I will avoid mentioning their names.
As of the date hereof, we are still working with our partners to develop the KDV technology. All partners are working to increase the output efficiency and performing experiments as for the best stock-feed input mix. We tested an improved design for the turbine in Eppendorf Germany at Alphakat testing plant last week. The new design shows from first look better performance compared to the previous design. Please visit our website at http://www.global-nrg.biz/?page_id=119 or my BLOG http://global-nrg.biz/blog/?p=312 to view the video of Alphakat small KDV in demonstration made on May 7th. Alphakat will continue to test it for performance evaluation.
We are currently engaged in discussion with other renewable energy technology companies in the field of alternatives fuel production. This is part of our strategy to become the leading commercializing Company in the world in the field of renewable diesel production from different kinds of waste or feedstocks.
As CEO of the Company, I strive to steer the Company in the direction that will create the most value in the future, and all actions we took in the past few years were guided by this approach. As a Company, we will need to supply the rapidly growing demand for renewable fuels from non-edible sources, especially due to the rapid rise in prices and the geopolitical instability in some oil producing regions in the world. We are moving forward with our business and positioning our Company as a leading player in the market.
I know that for some of you, our actions are not always understood, but I want to assure you that the management team of the Company is fully committed to the success of Global Energy and its shareholders. We are focused on building a large, strong and profitable Company and on maximizing value to our shareholders.
Sincerely,
Asi Shalgi
Chief Executive Officer
About Global Energy, Inc.:
Global Energy, Inc. (“Global
Energy”) is commercializing innovative technologies to produce energy
from different types of solid waste, while contributing to the effort of
cleaner environment. Global Energy utilizes one of the most efficient
and environmentally friendly technologies, KDV technology, which was
developed and patented by an acclaimed scientist. Through its marketing
and distribution agreement with AlphaKat, for its proprietary KDV
technology, Global Energy plans to gain significant market share in the
waste-to-energy market and become a market leader.
For additional information please visit www.global-nrg.biz.
Safe Harbor for Forward-looking Statements:
Statements in this
press release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Actual results could
differ from those projected in any forward-looking statements due to
numerous factors. Such factors include, among others: (i) unanticipated
problems and delays in engineering and construction, (ii) the inherent
uncertainties and speculative nature associated with biofuels and
alternative fuel sources; (iii) potential environmental liabilities,
weather, mechanical failures, safety concerns, labor problems and
financing problems; (iv) changes in economic conditions, adverse
exchange rates and financial markets; (v) the risk that we will not be
able to execute our business plan, such as entering into agreements with
strategic partners, leasing land, obtaining loans, etc; (vi) the
inability to retain key employees; (vii) changes in energy prices and
the high cost of alternative fuels; (viii) Global Energy's inability to
finance its operations or growth; (ix) the inability to obtain all
necessary governmental, environmental and regulatory approvals; (x) an
increase in competition in the biofuel and alternative fuel market; and
(xi) the possibility that our technology does not work as well as
expected. Investors should consider all of these risks and should also
refer to the risk factors disclosed in the SEC filings of Global Energy.