GMND Green Mountain Developmnet Corp (CE)

Robert Brehm, CEO of Green Mountain Development Corp. (PINKSHEETS: GMND), an incubator of green technology companies, announced today that the company has formed a subsidiary that intends to commercialize licensed technology for energy generation and storage using renewable sources of wind, solar and hydrogen gas.

The new subsidiary is currently in negotiations with several technology holders desiring to commercialize, develop, manufacture, license and distribute their renewable energy products and technology. Following the technology licensing, GMND will allocate a portion of its current $5MM fund raising effort for the energy subsidiary's business organization, staffing, market identification, strategic business plan development, and product rollout.

Brehm stated, "Our strategy is to 'incubate' green portfolio companies under the GMND umbrella by forming majority owned subsidiaries or acquiring a controlling interest for accounting rollup purposes, and then raising investment capital for the green company to implement a jointly approved business plan that targets in excess of $10 million in revenues and adequate earnings to attract investors for a future subsidiary public offering or third party sale within three years. In the interim, the green company contributes to the top and bottom line of GMND as well as shareholder value."

Brehm continued, "The formation of this subsidiary is the first step to entering the renewable energy business, followed closely by candidate selection and technology licensing, fund raising and commercialization. We are seeking opportunities that could become a major new paradigm in the renewable energy sector such as using water or biomass as a source of energy. We hope to develop the company to its full potential as part of our mission to provide solutions to environmental challenges and reduce the impact of global warming and our dependency on fossil fuel."

About Green Mountain Development Corp.

Green Mountain Development Corp. is an incubator for green technology companies which provide natural solutions for the environmental challenges of growth using the management expertise and infrastructure of GMND.

The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect" or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Investors and media contact: Robert Brehm 760/918-1860, ext. 102 www.greenbizness.com