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Green-minded wood exporter seeks investment through EB-5 visa program
Green Energy Resources (GRGR), a U.S. company that purports to be the only wood and fiber fuel exporter in the country that is environmentally certified and Kyoto compliant, has announced that it will offer foreign investors an expedited green card under the federal EB-5 visa program.
The company recently signed a two-year $55 million contract to deliver woodchips to Turkey – the second supplier agreement with the country in the past three months.
The EB-5 visa program allows GRGR to issue U.S. green cards to foreign nationals investing at least $500,000 to a U.S. business and creating a minimum of 10 jobs. GRGR is specifically seeking investments of at least $1 million.
Though not required by EB-5 guidelines, the wood exporters have also said that they will provide investors with a top executive position in the company.
Under the program foreign investors and their families are granted permanent legal residency in the U.S. after a two-year period.
Based in New York City, GRGR sources for lumber primarily in Virginia, North Carolina and Texas from storm damage, urban wood waste, streams and tree farms in order to promote a sustainable business.
The company is currently preparing to supply woodchips to major domestic coal power generators beginning in March.