New Haven, Ind. (April 13, 2010) — Global Energy Resources has announced that it will expand operations at its New Haven facility. The company, which is located at 7415 Nelson Road, was founded in 2009 and produces an additive for renewable diesel fuel. Project completion is slated for 2010 and will be an overall investment of $950,000 and an addition of 14 jobs.
"We are at a time in our development where it makes sense to invest and expand our capabilities," said Luke Ice, president of Global Energy Resources. "This project will give us the opportunity to better serve our existing clientele, as well as reach out to an additional customer base."
Global Energy Resources is investing $925,000 in manufacturing equipment, $5,000 in research and development equipment and $20,000 in information technology expenses. The company will be adding storage tanks, high pressure pumps, material pumps and mixers to its facility. This expansion marks the third project announced in the City of New Haven in recent months.
"This is very good news for the City of New Haven during these tough economic times," stated Mayor Terry McDonald. "It is exciting to have a company with as much potential as Global Energy Resources, choose to expand and provide job opportunities in our community."
Global Energy Resources has requested that taxes on the project be phased in over time. The company could realize $40,000 in personal property tax savings over a seven year period if the request is approved by the New Haven City Council. The company's tax saving request will be up for initial approval at tonight's New Haven City Council meeting.
About Global Energy Resources
Global Energy Resources is a producer of renewable diesel fuel additive. The product is designed to be an additive to diesel resulting in lower gel point, higher horsepower and cleaner emissions. The company was founded in 2009. For more information on Global Energy Resources, visit http://www.gergreen.com/.