GREENHUNTER ENERGY SUBSIDIARY COMPLETES
TANK STORAGE LEASING TRANSACTIONS

GRAPEVINE, TEXAS, MARCH 5, 2008 - GreenHunter BioFuels, Inc., a wholly owned subsidiary of GreenHunter Energy, Inc. (AMEX:  GRH) is pleased to announce the closing of two (2) separate business transactions related to the bulk liquid fuels terminal located at the GreenHunter Renewable Fuels Campus in Houston, Texas.

GreenHunter BioFuels has entered into tank leasing transactions with two (2) unrelated entities. These leasing transactions include loading, unloading, bulk storage, throughput management, vessel scheduling and logistical management for several bulk liquid products, utilizing the Company’s newly constructed tank storage.

GreenHunter BioFuels is in the final stages of completing construction activities at the Company’s Renewable Fuels Campus which includes a 105 million gallon per year biodiesel refinery, a 700,000 barrel bulk liquid terminal operation, and a 200 million pound per year glycerin refinery.

Commenting on initiating a new business line at the Company’s new Renewable Fuels Campus located in Houston, Texas, Mr. Bruce Baughman, Vice President of Engineering and Technology, stated “These initial transactions confirm our business strategy of building bulk liquid terminal assets along the Gulf Coast to achieve our return on capital expectations and support our operations and distribution plans. We are currently evaluating additional terminal service opportunities similar to these recently closed deals. We look forward to pursuing similar transactions with industrial clients in the greater Gulf Coast region”.

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 publicly traded renewable energy company that provides to investors a portfolio of diversified assets in the alternative energy sector.

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For Further Information Contact:
GreenHunter Energy, Inc.
Jack W. Zedlitz
1048 Texan Trail
Grapevine, TX 76051
Tel: (972) 410-1044