IRVINE, Calif., Aug. 13, 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, was awarded a contract to supply natural gas to a major U.S. electric and natural gas company with annual revenues of $10.3 billion, that could generate millions in additional revenues for the Company.
The contract was awarded by an electric utility headquartered in the Mid-west that operates in eight states. The Utility provides a comprehensive portfolio of energy-related products and services to 3.4 million electricity customers and 1.9 million natural gas customers. They also operate major generating facilities that use a variety of fuel sources including coal, natural gas, nuclear fuel, water (hydro), oil, and refuse; and also have facilities that generate electricity from the wind and sun. In total, their plants are capable of producing more than 17,000 megawatts (MW) of electricity.
Universal Bioenergy is a high growth company that generated over $71.74 million in revenues in 2011. Through NDR Energy Group, it markets and distributes natural gas to 30 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.
NDR Energy's President, Ken Harris stated, "We are very excited about the new relationship with our newest customer. We continue our efforts to grow our customer base in the Midwest and Western regions in the US. This new contract award allows us to sell gas that will be utilized by residents in a large Mid-western, multi-state area. This utility partner services millions of customers in the Western and Mid-western states. Additionally, we are very excited about growing this new relationship in the coming years. At NDR, our sales staff has continued its diligent work in growing our base load business. While this is not our only vertical, because of the consistent effort of our sales team, we continue to experience very substantial growth relative to the volumes in our base load operations."
The contract 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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