Boston, MA 09/04/2014 (wallstreetpr) – Diversified energy company Universal Bioenergy Inc. (OTCMKTS:UBRG) has announced that one of its subsidiary, NDR Energy Group has reached an agreement for the supply of natural gas to one of America’s largest energy companies according to an article on CNN Money.
Universal Bioenergy Inc. (OTCMKTS:UBRG) remains confident that the signed distribution pact will result in millions of dollars in terms of revenue going forward. NDR Energy Group’s sales are expected to be positively impacted as a result of increased demand. The positive news come in the wake of Universal Bioenergy Inc. (OTCMKTS:UBRG) generating sales totaling $58.29 million for the nine months ended March 31, 2014.
Universal Bioenergy Inc. (OTCMKTS:UBRG) is considered a high growth company operating in various fields of the energy sector. The company continues to enjoy double-digit growth seen by 41.9% increase in sales for the nine months ended March 31, 2014. The latest agreement is thus expected to spur further growth going forward. Its subsidiary, NDR Energy Group currently supplies natural gas to a number public utilities as well as electric power producers and local gas distribution companies.
The signed agreement according to the report limits the disclosure of the company that NDR Energy signed the supplies agreement. The undisclosed company is reported to own a number of portfolios running into megawatts of electric power generation as well as thousands of miles of transmission pipelines for natural gas.
The company in question also operates in 10 states sure to have a substantial impact on NDR Energy Group in terms of increased demand for natural gas. The company is also alleged to be the owner of the largest natural gas storage systems in the America.
The agreement comes as a boost for NDR Energy’s President and CEO, Ken Harris, who has been pursuing such large distribution deals. The deal increases NDR customer base having already entered into supplies agreements with other two large electric utilities in the U.S