IRVINE, Calif., May 16, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG), a natural and alternative energy company, announced that it's subsidiary NDR Energy Group was awarded another contract on May 12, 2011 to supply 775 million cubic feet of natural gas with an estimated value of $3.6 million to one of the nation's largest gas utility companies.
The customer that awarded the contract is headquartered on the West Coast, and is one of the largest natural gas distribution utilities in the United States with millions of residential, industrial and commercial customers in its service area. Under the terms of the agreement NDR Energy Group is to supply natural gas to the customer for a period of thirty days.
Universal's President Vince M. Guest states, "We are really excited about the continued acquisition of new strategic natural gas supply contracts by NDR Energy. This contract award should open up opportunities to obtain more and larger gas contracts with this and other customers in the future. This award demonstrates the excellent partnerships Ken Harris, President of NDR Energy, and his team are rapidly making in building our customer base with major utility companies. The agreement limits us from disclosing the customer's name and details, however this contract award should generate an estimated $3.6 million in additional revenue for the Company. We believe the growing strength and value of our customer portfolio should bring more value to our shareholders, as we position the Company to make it more attractive to institutional investors and others."
About Universal Bioenergy Inc.
Universal Bioenergy Inc. is an alternative energy company, and intends to create and market natural and alternative energy sources including natural gas, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to build the company into a prominent player in alternative energy.
The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784
Safe Harbor StatementSafe 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.