IRVINE, Calif., July 11, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, propane, petroleum and coal, announced that its subsidiary, NDR Energy Group, was awarded a contract to supply propane gas to one of the nation's largest gas utility companies.
Universal Bioenergy is a high growth company, that generated over $71.74 million in revenues for the fiscal year ended December 31, 2011. In July of 2011, the Company announced that it was expanding into the propane gas market. As part of its new business model, NDR Energy is positioning itself to be a huge player in the propane gas market. The Company believes this will be another major profit center for them. The contract was awarded by a customer that is a regulated subsidiary of a public utility holding company that has been distributing natural gas for 160 years and is headquartered on the east coast. The utility delivers natural gas to more than one million residential, commercial and industrial customers throughout the Mid-Atlantic region.
NDR Energy Group's President and CEO Ken Harris states, "We are certainly excited to announce that we have won the bid to sell a substantial volume of propane to a first-in-class end-user. We have continued to emphasize the diversity of our product offerings at NDR. And, propane sales continue to be a critical part of our operations. We will continue to promote the growth of our propane sales department in the coming months. In addition, I greatly anticipate sales in the electric/power, refined products, asset management/park and loan and petroleum verticals as we continue our meticulous and calculated growth. Our sales department is doing a remarkable job and I look forward to the continued expansion of our revenue base."
The agreement limits NDR Energy from disclosing the customer's name and certain details of the transaction.
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.