IRVINE, Calif., June 18, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, propane and coal, announced that NDR Energy Group, its subsidiary, has signed a contract to supply natural gas to one of the largest municipal water and power utilities in the nation, that could generate millions in revenues for the Company.
Universal Bioenergy is a high growth company that achieved sales of over $71.74 million in 2011, and is rapidly growing at double-digit rates. NDR Energy Group markets and distributes natural gas and propane under contract to 29 of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customers throughout the country.
The new customer is headquartered on the West Coast, and is one of the largest municipal water and power utilities in the nation, that delivers reliable, safe water and electricity to 3.8 million residents and businesses in its service area.
On March 12, 2012, the Company announced that NDR Energy Group was planning a major expansion into the commercial and industrial market sectors to further grow its customer base and generate more revenue and earnings. NDR Energy plans to gain more market share by pursuing customers that will include federal and state departments and agencies, the U.S. military, cities, municipalities and large commercial and industrial users of natural gas.
Ken Harris, President and CEO of NDR Energy stated, "We are definitely excited about this new relationship. One key goal for our organization is to sell more natural gas to governmental entities. We already sell gas consistently to some of the largest natural gas distribution utilities in the U.S. Now we have a contractual relationship with one of the largest municipal utilities in the country. This is another great benchmark as our company continues to grow the diversity of its customer base."
Solomon Ali, Universal's Senior Vice President states, "We are very excited about the new contract to supply natural gas to one of the largest municipal utilities in the country. We announced that NDR Energy would be aggressively pursuing municipalities and large commercial and industrial users of natural gas to diversify its customer portfolio, and now we have begun to achieve that objective with this contract. NDR Energy spent over three months negotiating this agreement, and their persistence paid off. This is another major step for our company and demonstrates another major achievement for NDR Energy Group and the strong image we are building in the energy industry. We believe this contract could generate millions of dollars in additional revenue and bring more value to our shareholders."
The contract limits NDR Energy from disclosing the customer's name and certain details of the transaction.
About NDR Energy Group LLC
Founded in 2005, NDR Energy Group, headquartered in Charlotte, N.C., is an energy company that markets and distributes natural gas and propane (HD-5), to major electric utilities and municipalities throughout the U.S. NDR provides energy management services to assist its clients in finding efficient and economic solutions. We also can provide other energy products such as refined petroleum products, energy efficient lighting systems and sustainable, alternative and renewable energy solutions to reduce our client's energy costs. For more information visit www.ndrenergy.com.
For more information contact: J.D. Hill, Director of Media Services at 704-323-2680
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
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Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.