LAS VEGAS, Feb. 15, 2012 /PRNewswire/ -- Having a firm
belief that Green Energy is a sound investment as a necessity for
the world's future energy requirements, City Capital Corporation
(PINKSHEETS: CTCC) announces that its' wholly owned subsidiary,
Strategic Energy and Power (STEP), has hired Richard Greenblatt as Vice President of Sales
for its LED lighting division. STEP is a Nevada-based subsidiary that designs,
manufactures, distributes and installs commercial solar power
generating installations and commercial LED lighting systems, using
its patented and licensed technologies.
Richard has over 40 years of automotive dealership experience,
with industry contacts throughout the
United States. He will lead the sales team in developing the
conversion of the automotive dealership market to the use of high
efficiency LED technology in both indoor and outdoor lighting.
Richard said "LED lighting can save up to 60% of the Showroom floor
and outdoor Lot lighting electric costs, which yield a payback of
less than 3 years on the conversion capital investment. Monthly
savings in electric costs will recover the cost of financing and
return additional monthly cash, with 100% of the electric bill
savings adding to profits at the end of the three year payoff."
"The company is particularly enthused about its new product line
offering - High Efficiency LED Lites for retrofit in existing
outdoor installations," said company CEO Donald MacIntyre. "We're a in the process
of retrofitting shopping mall parking lots, industrial complex
parking lots and automotive dealerships with energy saving LED
fixtures. By utilizing existing fixtures, housings and poles and
replacing internal light bulbs and electronics with High Efficiency
LED Lites proprietary LED retrofit kits, we minimize the
installation cost and reduce energy consumption by up to 60%.
Green Energy is still in its infancy, and we're excited about
becoming a leader in this growth industry."
With distribution and installation agreements already in place,
the company offers solar and LED installation for both residential
and commercial applications around the country. Talks are up-coming
with several Native American entities for systems to meet their
needs, and plans are underway to bid competitively for governmental
contracts.
Safe Harbor Statement- This release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 27E of the Securities Act of 1934.
Statements contained in this release that are not historical facts
may be deemed to be forward-looking statements. Investors are
cautioned that forward-looking statements are inherently
uncertain. Actual performance and results may differ
materially from that projected or suggested herein due to certain
risks and uncertainties including, without limitation,
ability to obtain financing and regulatory and shareholder
approvals for anticipated actions. Such statements are based
on management's current expectations and are subject to certain
factors, risks and uncertainties that may cause actual results,
events and performance to differ materially from those referred to
or implied by such statements. In addition, actual or future
results may differ materially from those anticipated depending on a
variety of factors, including continued maintenance of favorable
license arrangements, success of market research identifying new
product opportunities, successful introduction of new products,
continued product innovations, sales and earnings growth, ability
to attract and retain key personnel, and general economic
conditions affecting consumer spending. Readers are cautioned
not o place undue reliance on these forward-looking statements,
which speak only as of the date hereof. City Capital
Corporation, does not intent to update any of the forward-looking
statements after the date of this release to conform these
statement to actual results or to changes in its expectation,
except as may be required by law.
Contact:
Donald MacIntyre
702-294-0111
SOURCE City Capital Corporation