Viridis Energy begins shipping biomass pellets to Europe on Abellon alliance

Viridis Energy Inc., a "Cleantech" manufacturer and distributor of alternative energy providing biomass fuel to global residential and industrial markets, announced today that it has begun shipping wood pellets to Italy through an off-take agreement arranged through its strategic alliance with Abellon Clean Energy Limited ("Abellon") that was signed last month. The agreement marks Viridis' second major off-take agreement in Europe. In addition, the Viridis/Abellon joint alliance is scheduled to begin shipping wood pellets to Switzerland over the next 30 days.

Abellon Clean Energy is a leading integrated sustainable energy solutions provider based in Ahmedabad, India, with operations in the U.S., Canada, Europe, U.K., India and Africa. Viridis commenced its collaboration with Abellon in August 2011 to identify and secure supply agreements for the Company's existing production, partner on the proposed acquisition of Monte Lake property and the development of a production facility, and to provide a strategic investment in Viridis by Abellon.

The increase in demand for wood pellets in Europe was highlighted in a recent report by RISI, the leading information provider for the global forest products industry. RISI forecasts a 44 percent increase in biomass demand between 2010 and 2020 in Europe (inclusive of the 27 countries comprising the European Union, the UK, Norway and Switzerland), driven principally from the energy sector. The report sites lignocellulosic biomass, or plant biomass, as the largest renewable energy source available today, due to its relative abundance and reliable supply. A recent report by the International Institute for Environment and Development (IIED) stated that plans by Organization for Economic Co-Operation and Development (OECD) countries to rapidly expand power plants have fuelled demand for wood pellets, which could push demand up by 90 million tonnes per year in Europe and 60 million tonnes in the UK by 2020.

Commenting on the development, Christopher Robertson, Viridis' chief executive officer, said, "Our strategic alliance with Abellon is quickly developing into a dynamic conduit to significant opportunities in Europe. Since both companies share the objective of creating a leading bio-energy source, our efforts were immediately aligned. As a result, our relationship has already started to deliver results." Mr. Robertson continued, "As a result of our shipments into Europe, our current operations are trending towards full capacity and witnessing therefore nicely improving gross margins. Going forward, we intend to strategically expand our production capacity to address the worldwide demand for wood pellets and other biomass products, and we are currently reviewing several contract opportunities that satisfy our near term investment criteria and long term growth objectives."

About Viridis Energy Inc.

Viridis Energy Inc. CA:VRD +2.86%  is a publicly traded, "Cleantech" alternative energy company specializing in the agricultural and wood waste biomass. Located in Vancouver, B.C., Viridis Energy operates Cypress Pacific Marketing and Okanagan Pellet Company, two acquisitions in the wood pellet sector, thus providing the company with vertical integration for distribution and manufacturing. For more information on Viridis Energy Inc. please refer to the company website at www.viridisenergy.ca