GRAPEVINE, TEXAS, JANUARY 30, 2008 - GreenHunter Energy, Inc. (AMEX:  GRH) announced today that it has closed on a new Senior Bank Credit Facility of up to $150 million with WestLB, a German financial institution.

The first project financing to be funded under this Credit Facility totals $43.5 million.  These borrowings will be used to fund the continued development, conversion, and operation of a 105 million gallon per year biodiesel refinery, terminal operations, methanol tower, and glycerin refinery, all of which are currently under construction in Houston, Texas.

Mr. Gary C. Evans, Chairman and CEO stated, “With the closing of this debt financing, our Company further enhances our capital structure, during a period when extremely difficult credit markets are being experienced worldwide.  With these new funds, we remain on track to complete our Renewable Fuels Campus by the end of the month which includes a 105 million gallons per year Biodiesel Refinery, a 45,000 barrel per month Methanol Tower, up to 750,000 barrel Liquid Fuels Terminal, and a 100,000,000 lb’s per year Glycerin Refinery.”

About WestLB

WestLB is a European commercial bank with total assets of $285.3 billion and one of Germany’s leading financial service providers and offers the full range of products and services of a universal bank, focusing on lending, structured finance, capital market and private equity products, private banking, asset management, transaction services and real estate finance.  For more information, please visit


About WestLB Capital Markets

WestLB develops sophisticated structured solutions through a team of highly experienced investment banking and capital markets professionals.  West LB has a long-standing presence in the corporate, structured and asset-backed financing sectors supporting clients’ needs with capital commitments, advisory services and innovative financing solutions.  WestLB is a leader in biofuel financings and is committed to the renewable energy sector.  The bank’s global relationships, coupled with its unique understanding of local economies, industries, and cultures help WestLB bankers consistently deliver high quality advice and service.

GreenHunter Energy is focused on the renewable energy sectors of wind, solar, biofuels, and biomass power plants. Our assets consist of leases of real property for future development of wind energy projects located in Montana, New Mexico and California, a former waste oil and chemical refinery currently being converted to the nation’s largest biodiesel refinery located in Houston, Texas, and a biomass power plant located in El Centro, California. Headquartered in Grapevine, Texas, GreenHunter Energy was formed to be the first U.S. publicly traded renewable energy company that provides to investors a portfolio of diversified assets in the alternative energy sector.

Forward-Looking Statements
Any statements in this press release about future expectations and prospects for GreenHunter Energy and its business and other statements containing the words “believes”, “anticipates”, “plans”, “expects”, “will” and similar expressions constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the substantial capital expenditures required to fund its operations, the ability of the Company to implement its business plan, government regulation and competition. GreenHunter Energy undertakes no obligation to update these forward-looking statements in the future.


For Further Information Contact:
GreenHunter Energy, Inc.
Gary C. Evans
1048 Texan Trail
Grapevine, TX 76051
Tel: (972) 410-1044