CHEYENNE, Wyo.--(BUSINESS WIRE)--New Global Energy today issued the following open letter to shareholders:
New Global Energy (“New Global”) (OTCQB:NGEY) welcomes our new shareholders that have recently joined us. We are excited to share with you some of our activities and plans.
New Global is positioning to participate and profit in the expansion in food production required to cope with the ever increasing global demand. Our Company projects to create long-term value by growing our core aquaculture businesses and by making acquisitions within the expanding global farming sector that both compliment and diversify existing operations.
We believe that we are at the forefront of investing in three key areas: aquaculture, agriculture and renewable energy. This letter highlights just a few of our exciting developments.
As per capita incomes in Asia increase, so does Asia’s demand for seafood. With the US importing over 90% of its seafood, and with most of those imports coming from countries located in Asia, it is easy to understand why an increasing percentage of Asia’s fish production is projected to stay in Asia to feed its own population. Asia’s rising demand for seafood projects to diminish supply available for US import which creates additional need in the US for alternative sources of sustainable seafood. These, and other factors, are why worldwide aquaculture production has grown annually by 8.3 percent since 1970, making it the fastest growing form of food production in the world.
Farms in which New Global has interests are east of Palm Springs in the heart of the prolific Coachella Valley, California are uniquely suited to grow tilapia, which is a tropical fish, because of the area’s warm climate and the availability of warm fresh water from geothermally heated wells.
New Global is diligently working to address the region’s challenges concerning the cost of electricity, feed and water by developing innovative solutions such as: using solar to cut electrical costs; recirculating water; and manufacturing its own feed (instead of buying it from a third party). Indeed, New Global Energy’s proprietary fish feeding methodology is expected to cut overall feed costs in half. Our management believes the Company’s ability to successfully solve critical cost issues through innovation and technical advancement will help lead the way in New Global becoming the leading producer of premium seafood in Southern California.
In addition to the cultivation of tilapia, the farms in which the Company has an interest are preparing to cultivate shrimp. This important feature of the Company’s business plan, will position New Global to benefit from the production of a seafood product whose price has risen 50% in the previous 18 months.
These high quality products are generating heightened interest from specialty retailers who seek “certified and approved” seafood to meet customer demand. The planned expansion of the Company’s current distribution platform to include specialty food retailers, should deliver huge benefits to the consumer and generate new revenue streams with greater margins for the Company.
Perhaps the most significant news related to New Global’s agriculture business is the Company’s entry into the cultivation of Moringa, also known as the “Tree of Life” or the “Miracle Tree” due to its important nutritional and medicinal properties.
Six thousand Moringa trees have been planted on the Company’s farm in Thermal, California and an additional 10,000 trees are in the process of being planted on the Company’s farm located in Mecca, California. New Global’s Moringa crop is an important feature of the Company’s move to diversify its agricultural business and is projected to yield significant revenues.
New Global remains committed to researching, acquiring and developing affordable technologies and properties that will reduce the dependence on foreign oil. In conjunction with our partner, OriginOil, the Company is pioneering a system for harvesting algae for fish food production and use in biofuel production.
In order for algae to replace petroleum, it must be produced cost-effectively on a very large scale. Historically, it has been difficult to extract small amounts of algae biomass from very large quantities of water at a reasonable cost and without using more energy than can be created. OriginOil is seeking to solve this problem with an innovative, new method of electrical and water chemistry engineering.
New Global approaches the close of 2014 having made great strides forward. Looking forward to 2015, we are confident in our Company’s plan to improve and expand aquaculture operations and also, to grow the Company’s asset base through strategic acquisitions.
Please visit us at our website (www.newglobalenergy.net).
Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.