Universal Bioenergy subsidiary, NDR Energy has been awarded a $1.9m gas supply contract by a subsidiary of an undisclosed US-based electric and gas utility company.
Under the terms of the agreement, NDR energy will supply natural gas to gas utility company for a period of 30 days.
Universal’s President Vince M. Guest said the contract acquired by NDR Energy would provide opportunities in obtaining larger gas contracts in the future.
The US-based utility company supplies gas to 3.5 million customers in the region.
"The contract limits us from disclosing the customer’s name and some details, however this contract award is valued at $1.9 million and should increase the market value of our utility contracts portfolio, improve our assets and bring greater value to our shareholders as we position the Company to make it more attractive to the investment community and others." Guest said.