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GreenGold Ray Energies, Inc.: GreenGold Ray Energies "Fueling the Future" Builds a Demo-Jatropha Farm & a 2nd Biodies

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^{Published in Business and Finance on Tuesday, March 24th 2009 at 9:44 GMT, Last Modified on 2009-03-24 09:46:25 by Market Wire}  

CAGAYAN DE ORO, PHILIPPINES--(Marketwire - March 24, 2009) - Green Gold Ray Energies, Inc. (PINKSHEETS: [ GRYE ]) announces that a "Demo-Jatropha Farm" is being constructed, located in Libertad, Bunawan, Agusan del Sur, along the national highway going to Davao and Cagayan de Oro. The GRYE's "Fueling the Future" Jatropha Plantations and its Research & Development Center, will serve as the showroom and demonstration farm of GreenGold. The GRYE's "Demonstrations Jatropha Farm" is a three (3) hectares area located in southern part of Agusan, Caraga Region. The company will also intercrop under jatropha by squash vegetables to sustain also the food scarcity and add income to feed the farmers. The jatropha seeds planted last week will be sprouting in April. All Investors, shareholders and other visitors are welcome to visit and see the big progress of GreenGold.

GreenGold is also acquiring and building a second Biodiesel Refinery Site in Davao. It is a HIJO Ecozone approved area that lies within the sprawling 760-hectare HIJO Estate located in Tagum City, the capital of Davao Del Norte on the island of Mindanao in Southern Philippines. Davao Del Norte is around 56 kilometers to the north of Davao City and is the center of commerce and trade in Southern Philippines; Tagum City is one of the fastest growing areas in the Davao Region. Covering 64 hectares, the HIJO Ecozone is ideal for light to medium scale manufacturing activities in a wide variety of industries. The essential components of the HIJO Master Plan are Industrial Estate, General Industrial Zone (GIZ), Special Eco-zone (PEZA Accredited), International Port Facility, Commercial/Trade Centre, Leisure & Tourism, Residential/Farm lots and Eco-tourism Centres.

GreenGold will be securing the necessary permits and licenses from the Philippine Economic Zone Authority (PEZA), Department of Environment and Natural Resources (DENR), Local Government Unit (LGU) and other appropriate government agencies while operating within HRC SPEZ.

Last week's visit of GreenGold CEO Tecson had been positive as he continued to acquire more working alliances with the local jatropha growers in Mindanao. The company acquired another 3,400 hectares in Agusan Del Norte, and several more hectares of farm lands in Davao Province.

Meanwhile, in Camiguin Island, GreenGold had added 400 hectares of farmlands, plus 5 more communities that each own over 200 hectares farm lands. They are getting ready to sign the working alliance with GreenGold. These farm lands are in addition to the 200 hectares of existing Shiloh Jatropha Farmlands already acquired.

On February 27th, CEO Manolo Tecson's speech during the Camiguin's Town Hall Meeting attended by the Mayor, the Provincial Government Officials and the host community people, emphasized the crucial role of GreenGold to the communities' livelihood and highlighted the importance of continuous research and development in finding alternative sources of energy, combating foreign oil dependence and protecting biodiversity.

"In the face of persistent and growing global energy challenges, such as rising cost of oil and gas, exacerbated and more erratic climatic conditions, the need to ensure alternative and renewable energy independence and environmental safety are essential. The world is increasingly looking to biofuels to meet our global energy needs," CEO Tecson continued. "GreenGold's innovations and enhanced products allow us to unlock the potential of these jatropha plants, enabling us to do more with less, to provide livelihood to more people, and to produce more biofuel, while helping decrease the carbon emission footprint."

"We have just begun realizing the promise of this agricultural jatropha technology. These amazing product, Jatrophas are the 'Seed of Hope,' GreenGold has already cultivated and will soon produce enough biodiesel to meet the growing demand. GreenGold is not only at the early stages, but on the productive stage of the final biodiesel oil production curve. GreenGold Ray Energies is Fueling the Future," concluded CEO Manolo Tecson.

GreenGold offered to the communities of Mindanao Island full modern toolbox including jatropha seed cultivation-germination technology and seed propagation-protection; thus enhancing the effective and efficient growth of the jatrophas and increasing GRYE's biodiesel feedstock, that are vital to provide the solutions to this global problem.

This First Quarter GreenGold Ray Energies' Research Report was prepared on January 23, 2009. Click link below:

[ http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=2001 ]

[ http://www.GreenGoldEnergies.com ]

About GreenGold Ray Energies, Inc.

GreenGold Ray Energies, Inc. (PINKSHEETS: [ GRYE ]) is a rapidly growing biodiesel, green technology, environmentally-friendly and an alternative-renewable energy company. The Company has already solidified its position through a highly successful land acquisition program, acquiring large parcels of land through working alliances and joint venture partnership with landowners and growers, ideal for the cultivation of the jatropha curcas plant. Jatropha curcas grows almost anywhere, even on gravelly, sandy and saline soils. Jatropha oil can be processed to produce a high-quality biodiesel that can be used in a standard diesel car, while the residue can also be processed into biomass to power electricity plants.

Forward-Looking Statements

Forward-looking statements in this release include statements regarding the Company's projections regarding biodiesel, biofuels other alternative energy explorations and extractions in future periods. Penny Stocks are highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.