GREENHUNTER ENERGY ANNOUNCES ACQUISITION
OF BIODIESEL POWERED GENERATORS

GRAPEVINE, TEXAS, November 8, 2007 - GreenHunter Energy, Inc. announced today the acquisition of 7.2 MW of biodiesel powered electrical generators from a third party located in Panama City, Panama.  The power plant is skid mounted and has a Tier I EPA certification and will operate under the TCEQ and all other local and state regulatory requirements.  The power plant is essentially new with only one unit previously fired for less than one hour.  The power plant is in the process of being boarded on a ship, after being thoroughly inspected, and will be transported to the Company’s new 105 million gallon per year biodiesel refinery located at the Houston Ship Channel.  Upon arrival before the end of November, GreenHunter Energy operating personnel will test the power plant units for the following potential opportunities:

• The Houston industrial market
• The wind generated electricity market as an approach to improve the capacity factor associated with intermittent wind power
• For additional capacity at biomass powered electrical plants
• As a stand alone peaking power plant due to its rapid electrical generation capability

Commenting on this acquisition and expansion into a new business unit, Mr. Gary C. Evans, Chairman and CEO stated “This new alternative energy application is just another example of our diversification plan utilizing equipment purchased at a fraction of its original acquisition price or replacement value, and then creating a new and exciting commercial business opportunity.  Additionally, by utilizing our own biodiesel production from our new refinery, on target to be in commercial operation in March 2008, we will be increasing the net profit margin potential of our integrated operations utilizing a renewable source.  At the same time, we will be creating an entirely new alternative energy business within our existing portfolio of wind, biodiesel and biomass.”

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.

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.

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For Further Information Contact:
GreenHunter Energy, Inc.
Gary C. Evans
3129 Bass Pro Drive
Grapevine, TX 76051
Tel: (972) 410-1044