Green Energy Live, Inc. Extends Letter of Intent to Acquire Peck Electric
September 27 2010 - 7:00AM
Marketwired
Green Energy Live, Inc. (OTCBB: GELV) is a growing clean energy
company focusing on sustainable "clean side of green" solutions for
the U.S. livestock industry. On September 26, 2010 Green Energy
Live updated its Letter of Intent to acquire 100% of the stock in
Peck Electric, Vermont's leading provider of commercial electrical
contracting services. Through its renewal of this letter of intent
to acquire Peck Electric, Green Energy Live has various
opportunities to expand into new areas of clean energy products and
services.
Besides expanding into solar energy in 2010, Peck is providing
its expertise to ElectroCell Technologies, Inc. as ECT brings the
new "single phase" model of its patented manure treatment machinery
into the North American market. Peck is the exclusive vendor to
manufacture core electrical components for ECT's groundbreaking
process. This technology uses precisely managed electrical current
to treat manure and dramatically reduces pathogens, odor, and
excess nutrients in livestock manure. Livestock waste is one of the
largest pollutants of lakes, rivers and estuaries in North America
and farmers are under increasing regulatory pressure to manage it
more effectively. ECT's technology provides farmers with a powerful
tool for regulatory compliance, and it also provides productivity
benefits that actually improve farm profits. Peck is poised to
increase its revenue based on the forecasted demand for these
machines.
Karen Clark, President/CEO of Green Energy Live, commented:
"Peck Electric is a solid, well-run company with multiple and
consistent revenue streams and is capitalizing on opportunities to
expand into new clean energy revenue streams. Peck Electric has
collaborated with ElectroCell Technologies, Inc. for 5 years in the
design of the control panel for their patented machine, as well as
the new 'single phase' machine that was introduced into the North
American market this past week. ECT has entered into the
operational phase of their business plan and Peck benefits as the
sole supplier of the control panels for these machines. We are very
excited at the various new areas of 'the clean side of green' that
Peck has moved into as it expands from the traditional areas of its
40+ years of electrical contracting business. Green Energy Live is
pleased to continue to move forward with the acquisition of this
growing enterprise and we have made tremendous strides with Peck
this summer as we prepare to complete this acquisition. We are now
in active discussions with various funding sources that have shown
interest in our business plan. Green Energy Live and Peck Electric
will determine a closing date for this transaction once the
pre-acquisition activities are completed."
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
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