IRVINE, Calif., Feb. 22, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company that markets and distributes natural gas, electric power, and coal, in its plans for growth and expansion, announced that it is planning to establish a new division that will focus on the sales of coal for export to the international market, to generate millions in additional revenues, higher margins and potential profits.
The new division will take advantage of the growing demand for coal in countries whose economies and infrastructure are experiencing high growth, have a greater demand for energy, electric power and coal to produce electricity and to manufacture steel. These countries include China, India, South Korea, Mexico and some European countries, including Germany, England, Ireland and Poland. Executives of Universal Bioenergy have engaged in direct meetings with representatives of the U.S. Department of Commerce in Irvine, California to assist the Company in its efforts to export coal and other energy products to the international market. The Company will also be working with the U.S. Department of Commerce's offices in those targeted countries to facilitate the export of energy products to companies in those countries.
According to the U.S Energy Information Administration, the United States holds the world's largest estimated recoverable reserves of coal and is a net exporter of coal. The International Energy Agency (IEA) in its Medium-Term Coal Market Report 2012, forecast that Coal's share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world's top energy source.Vince M. Guest, Universal's President states, "We are very excited about our plans to establish our international coal sales division. We have already established domestic and international relationships with a network of coal buyers, brokers, traders, transportation and shipping companies to arrange for the export of coal. We have also established contacts with several Embassies and Consulates in those targeted countries to arrange for the export of coal and other energy products to meet their growing demands. We believe this should bring millions in additional revenues, higher margins and potential profits for the company."
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