The undisclosed company is a supplier of energy to approximately four million customers in the US.

Universal Bioenergy president Vince M. Guest said the agreement is one of the six major contracts the company is negotiating right now.

"The agreement limits us from disclosing the customer’s name and some details. We believe this and other future contract awards will help propel us to our projected revenues of $80 to $100 million this year," added Guest.

The customer has approximately 35,000MW of electric generating capacity in the Carolinas and the Midwest, and natural gas distribution services in Ohio and Kentucky.

They own and operate diverse power generation assets in North America and Latin America, including a portfolio of renewable energy assets.