Green Energy Live Extends Letter of Intent With Peck Electric, Inc
17 6월 2010 - 8:58PM
Marketwired
Green Energy Live Inc. (OTCBB: GELV), a growing clean energy
company engaged in developing sustainable biomass-to-energy
conversion solutions for the U.S. livestock industry, has extended
its letter of intent to acquire 100% of the stock of Peck Electric
Inc, Vermont's leading provider of electrical contracting services.
Green Energy Live is pleased to announce that Peck's electrical
services business is thriving with strong and consistent revenue,
longstanding relationships with key customers, and opportunities to
expand with clean energy products and services.
Peck Electric's established electrical contracting services
division currently employs 60 people with training and experience
in all aspects of electrical wiring for commercial, industrial and
residential projects as well as control wiring and logic
controllers, high voltage power distribution, lighting and 24 hour
emergency service. The company is licensed, insured and has been
servicing customers since 1972. Peck generated $6 million in gross
revenue in 2009 with the majority of sales attributed to its
electrical division.
IBM, UPS, Energizer Battery Company, PBM Nutritionals, Ben &
Jerry's, Husky Injection Molding, Fletcher Allen Health Care,
University of Vermont and Champlain College are among Peck's
customers. The company has worked with most major general
contractors throughout Vermont. In addition to electrical
contracting Peck installs telecommunications systems, provides
solar power installations, and designs and develops clean energy
products.
Karen Clark, President/CEO of Green Energy Live, commented:
"Peck Electric is a solid, well-run company with multiple and
consistent revenue streams as well as potential for significant
expansion in clean energy offerings. In spite of extremely tough
economic conditions Peck maintained its revenue levels last year,
generating $6 million in gross revenue in 2009 as it did in 2008.
Green Energy Live is extremely pleased to continue to move forward
with the acquisition of this growing enterprise. Peck Electric is
also strategically moving into the Solar Industry and has just been
awarded several key projects that will grow its revenue in
2010."
On June 12, 2010 Green Energy Live updated its Letter of Intent
to acquire 100% of the stock in Peck Electric. Upon acquisition,
Peck will become a wholly owned subsidiary. Green Energy Live is
conducting its due diligence and is in the midst of pre-acquisition
audits. Upon completion of these pre-acquisition investigations,
Green Energy Live and Peck Electric will determine a closing date
for this transaction.
About Green Energy Live (OTCBB: GELV)
Green Energy Live Inc. is engaged in developing sustainable
biomass-to-energy conversion technology to meet a critical need for
the nation's $154 billion livestock industry. The company plans to
use its proprietary gasification technology for the development of
highly innovative, on-site manure-to-electricity conversion systems
to enable livestock farmers and ranchers to convert their animal
waste into clean, renewable energy. Green Energy Live acquired
Comanche Livestock Exchange in July 2009. The wholly owned
subsidiary enhances Green Energy Live's ability to bring its clean
energy technology to market by providing ongoing revenue to support
technology development, livestock industry experience, contacts
with potential customers, and an established sales channel.
This press release may contain certain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, that are intended to be covered by the safe
harbor created by such sections and other applicable laws. Such
forward-looking statements include, without limitation, plans and
expectations regarding the development of GELV's gasification
technology and other projects and operations. GELV has tried,
whenever possible, to identify these forward-looking statements
using words such as "anticipates," "believes," "estimates,"
"expects," "plans," "intends," "potential" and similar expressions.
Where the Company expresses or implies an expectation or belief as
to future events or results, such expectation or belief is
expressed in good faith based upon currently available information,
and is believed to have a reasonable basis. However,
forward-looking statements are subject to risks, uncertainties and
other factors, which could cause actual results to differ
materially from future results expressed, projected or implied by
such forward-looking statements. Such risks include, but are not
limited to: (1) GELV's need for additional financing, which is not
assured and which may result in dilution of shareholders; (2)
GELV's status as a small company with a limited operating history;
and (3) regulatory restrictions in the production of bio-fuels. For
a more detailed discussion of such risks and other factors, see the
Company's 2009 Annual Report on Form 10-K, filed on April 17, 2010,
with the Securities and Exchange Commission, and its other SEC
filings. The Company does not undertake any obligation to release
publicly revisions to any "forward-looking statement," to reflect
events or circumstances after the date of this news release, to
update or provide advice in the event of any change, addition or
alteration to the information contained in this news release
including such forward-looking statement, or to reflect the
occurrence of unanticipated events, except as may be required under
applicable securities laws.
Contact: Investor Relations: 1-866-460-7336 Email Contact
Green Energy Live, Inc. 1740 44th Street, Suite 5-230 Wyoming, MI
49519-6443 www.greenenergylive.com
Green Energy Live (CE) (USOTC:GELV)
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