Red Branch Technologies Announces LOI With Green Power Technologies, Inc.
November 30 2009 - 7:30AM
Marketwired
Red Branch Technologies, Inc. (PINKSHEETS: RBTI) announced today an
LOI with Green Power, Inc., a Nevada Corporation. Red Branch
Technologies has agreed to acquire a forty percent stake in Green
Power, Inc. Terms of the agreement have not been released. Also,
terms of any final agreement between the two companies is subject
to final approval of the Governing Board of Directors of the
respective companies.
Green Power Technologies (GPT) is developing a family of
wireless products and solutions for intelligent energy management,
automation and control using leading edge power and communication
networks. GPT, along with its partners, will seamlessly connect
mobile, wireless and electronic devices to the existing wired and
wireless infrastructure. GPT's mission is to enable the market
place with truly innovative wireless solutions. This system
architecture will provide a dramatic cost savings for installation
as well as maintenance cost through the life of the system and
revolutionize the market and beyond.
About Red Branch Technologies, Inc.:
Red Branch Technologies provides sustainable-energy-powered
solutions meeting commercial, industrial, municipal and federal
requirements for site security, materials control, emergency
communications, water purification and similar on-site
applications. The company's ability to simultaneously manage
multiple renewable energy sources allows Red Branch Technologies
powered solutions to stay up and running longer than the
competition. Mobility is another differentiating aspect of Red
Branch Technologies' solutions.
The company also offers a unique set of security products for
military and law enforcement applications where cost/performance
represents a critical selection factor. The application areas
include Explosive Ordinance Disposal (EOD) robots, vehicular
inspection and Unmanned Aerial Vehicles (UAVs).
More detailed information can be found at
www.RedBranchTech.com.
Safe Harbor: This letter contains 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, which are intended to be covered by the safe
harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainty, including
without limitation, the ability of the Company to successfully
implement its turnaround strategy, changes in costs of raw
materials, labor, and employee benefits, as well as general market
conditions, competition and pricing. Although the Company believes
that the assumptions underlying the forward-looking statements
contained herein are reasonable, any of the assumptions could be
inaccurate, and therefore, there can be no assurance that the
forward-looking statements included in this letter will prove to be
accurate. In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as representation by the Company
or any other person that the objectives and plans of the Company
will be achieved. In assessing forward-looking statements included
herein, readers are urged to carefully read those statements. When
used in the Annual Report on Form 10-K, the words "estimate,"
"anticipate," "expect," "believe," and similar expressions are
intended to be forward-looking statements.
Contact: Investor Relations David Donlin Cervelle Group Phone:
407-614-5959 ext. 223
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