BioFuels Journal

Grapevine, TX—GREENHUNTER ENERGY, INC. (NYSE Amex: GRH), a diversified renewable energy company focused on wind development projects, biomass power generation and the production of biodiesel, announced today financial and operating results for the three months ended June 30, 2009.

For the second quarter of 2009, the Company reported net income to common shareholders, including one-time events, of $4.45 million ($0.13 per fully diluted common share) on total revenues of $1.7 million, compared to a net loss of $7.3 million ($0.37 loss per fully diluted common share) on total revenues of $468 thousand in the second quarter of 2008.

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For the six months ended June 30, 2009, GreenHunter reported a net loss of $4.3 million ($0.20 loss per fully diluted common share), as compared to a net loss of $15.6 million ($0.79 loss per fully diluted common share) for the six months ended June 30, 2008.

Since the beginning of fiscal 2009, GreenHunter Energy management has worked to continue to improve its balance sheet by paying down outstanding indebtedness and implementing significant reductions in total selling, general, and administrative expenses.

Commenting on GreenHunter Energy’s second quarter financial results, Mr. Gary C. Evans, Chairman, President, and CEO, stated, “Our Company has been in survival mode since late last year after the hurricane strike on our largest asset, our Houston biodiesel refinery, and the subsequent collapse of the financial markets.

"The renewable sector was especially hurt by the unprecedented decline in fossil fuel prices which resulted in similar declines in the price of our finished product, biodiesel.

"We feel that we are methodically working through our very tight capital issues with a specific game plan that should allow for future opportunities within the renewable space.

"Our ability to negotiate the final settlement of substantial insurance claims as well as sell and monetize certain non-core assets has to-date provided sufficient working capital to keep our Company viable.”

For more information, call 972-410-1044.

See Related Websites/Articles:

• GreenHunter Energy
• Full GreenHunter Report

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