Solverdi Worldwide Completes Acquisition of Aristos International
September 02 2009 - 12:21AM
Business Wire
Solverdi Worldwide Ltd (ASX: SWW), the world’s first renewable
utility, announced today that it has completed the acquisition of
100 percent of the stock in Aristos International, a leading data
center services design and build firm, for 5 million ordinary
shares of Solverdi at $0.13 per share. The shares will be subject
to a 12 month escrow period. The Aristos transaction is expected to
add approximately $7 million USD to revenues, with approximately 20
percent of that to EBITDA for the remainder of the 2009 calendar
year, subject to business as usual and no unforeseen material
adverse events or incidences arising.
Aristos International (www.aristosint.com), founded in 2008 by
principals Rob Nash-Boulden and Gary Cudmore, provides
comprehensive data center services, including site selection,
feasibility studies, consulting, construction, project management,
engineering, capacity audits, layouts and configurations,
computational fluid dynamic studies, constructability analysis,
reliability studies, site surveys, equipment sourcing and
procurement, redundancy planning, electrical, architectural,
structural, mechanical and plumbing, budgetary development, fire
suppression, raised floors, and site commissioning. Aristos
maintains its headquarters in Arizona, it also has operations in
California and Colorado while performing work throughout the entire
United States.
Dennis Danzik, CEO of Solverdi Worldwide, stated, “This is an
important strategic acquisition for Solverdi. By integrating
Aristos’ expertise in the data center design/build process with our
patented, low-cost, “green” electricity generating process, we can
help companies take their costly back-up generators and turn them
into an economical energy source with a tremendous return on
investment while helping companies take steps to go “green.” We are
also pleased to be gaining the intellectual resources of the
Aristos employees and the leadership of Aristos founder Gary
Cudmore, who will remain President of the Aristos subsidiary of
Solverdi. The Aristos name will continue to be a brand under the
Solverdi company umbrella.”
Gary Cudmore, President of Aristos International, commented,
“This combination significantly advances the strategic objectives
of Aristos. In particular, Aristos can serve as a critical bridge
to providing our customers with a green, renewable energy solution
via their existing, untapped, uninterruptable power source, or UPS,
infrastructure. We are excited to be joining the Solverdi team and
look forward to capitalizing on market opportunities for our
combined products and services.”
About Solverdi Worldwide Ltd.
Solverdi Worldwide Limited is the world’s first renewable
utility. It offers customers a “behind the meter” solution for
generating electricity during peak utilization periods at 15 - 25%
below peak rates per kilowatt hour. In addition, the Solverdi
Process is used to produce steam, compressed air, and recapture
non-potable water. The Solverdi Process includes a solar cracking
(thermal) system that delivers renewable electricity and
incorporates the use of solar and renewable fuels and utilizes a
commercial building’s uninterruptable power supply and interior
energy infrastructure. The average system is installed on the
exterior of the building and fits inside a 10’ x 10' area. All
systems are designed and supervised by professional engineers, and
meet LEED standards in the U.S. The company also operates
Australia’s largest capacity renewable fuel production facility,
near Brisbane, Queensland, and an additional facility in Berkley
Vale, New South Wales that is currently being converted to the
Solverdi process.
Forward-Looking Statements
The Information herein contains forward-looking statements that
involve risks, uncertainties, assumptions and other factors, which,
if they do not materialize or prove correct, could cause Solverdi
results to differ materially from historical results, or those
expressed or implied by such forward-looking statements. All
statements, other than statements of historical fact, are
statements that could be deemed forward-looking statements,
including statements containing the words "planned," "expects,"
"believes," "strategy," "opportunity," "anticipates," and similar
words. These statements may include, among others, plans,
strategies and objectives of management for future operations; any
statements regarding proposed new products, services or
developments; any statements regarding future economic conditions
or performance; statements of belief; and any statements of
assumptions underlying any of the foregoing. The potential risks
and uncertainties may include, but are not limited to, competition
in our target markets; potential capital needs; management of
future growth and expansion; risk of third-party claims of
infringement; protection of proprietary information, customer
acceptance of the company's products and fee structures; the
success of Solverdi brand development efforts; risks associated
with strategic alliances; reliance on distribution channels;
product concentration; need to develop new and enhanced products;
potential product defects; our ability to hire and retain qualified
employees and key management personnel; and risks associated with
changes in domestic and international market conditions and the
entry into and development of international markets for the
company's products. Solverdi assumes no obligation to update any
forward-looking statement to reflect events or circumstances
arising after the date on which it was made.
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