Green Planet Completes Negotiations With Arizona Independent Power
July 21 2011 - 1:29PM
Green Planet Group, Inc. (OTCBB:GNPG) announced today that it has
completed negotiations to acquire Arizona Independent Power, Inc.
(AIP) which will become another wholly owned subsidiary of Green
Planet.
Arizona Independent Power has been researching and developing a
pump storage project that will be located near Phoenix, Arizona.
Pump Storage is defined as a renewable energy source that is always
available to generate electricity unlike the intermittent problems
that plague solar and wind systems. Pump Storage is not a new
concept, this technology was originally developed in Europe in the
late eighteenth century and there are approximately 90 generating
systems currently operating in the U.S. What is unique about
building a system in Arizona is that the most important element of
the design is the difference in elevation between two reservoirs
and the proposed site has a difference of at least 1,200 ft. This
has the potential of generating enormous amounts of renewable
electric power which could have a profound impact on the growth of
Arizona and surrounding states.
Edmond L. Lonergan, Pres/CEO stated, "We are very excited about
this acquisition because it brings renewable energy technology into
the Green Planet Group which in the future should substantially
increase shareholder value."
Green Planet will provide additional information regarding this
project in future news releases.
About Green Planet Group
Green Planet Group, Inc. (OTCBB:GNPG) is based in Scottsdale,
Arizona and engages in ongoing research and development to create
products and services that enhance our environment. The Company's
revenues are currently derived from the production and distribution
of fuel-based energy conservation and clean-air products, as well
as through the placement of members of the growing ranks of the
unemployed into meaningful "green collar" careers. For additional
information, please visit www.greenplanetgroup.com.
SAFE HARBOR: Certain information included herein may contain
statements that are forward looking, such as statements relating to
plans for future expansion and other business development
activities. Such forward-looking information is subject to changes
and variations which are not reasonably predictable and which could
significantly affect future results.
CONTACT: Gabriel (Gabe) Rodriguez
E Relations Group, Inc.
623-255-5750
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