GreenHunter Energy Announces Completion of At-The-Market Offering

  GreenHunter Energy Announces Completion of At-The-Market Offering

Business Wire

GRAPEVINE, Texas -- March 11, 2013

GreenHunter Energy, Inc. (NYSE MKT: GRH) (NYSE MKT: GRH.PRC) (the “Company”),
a diversified renewable energy company predominately focused on water resource
management in the unconventional oil and natural gas shale resource plays,
announced today the completion of the “at-the-market” offering program in
which the Company sold shares of its common stock and 10% Series C Cumulative
Preferred Stock raising gross proceeds of approximately $12,116,000, resulting
in net proceeds of approximately $11,440,000 after deducting commissions and
fees, since commencing the offering pursuant to the prospectus supplements
filed December 11, 2012 and December 20, 2012. MLV & Co. LLC acted as sales
agent in the offering.

The Company intends to use net proceeds from the offering for capital
expenditures, working capital, acquisitions (whether direct or indirect) and
other investments, repayment or refinancing of indebtedness, the possible
repurchase of our common stock, investments in our subsidiaries, redemption of
all or a portion of our outstanding equity interests, or general corporate
purposes. Pending any specific application, the Company may initially invest
funds in short-term marketable securities or apply them to the reduction of
short-term indebtedness.

The offering was made pursuant to an effective registration statement and
prospectus supplements that the Company previously filed with the Securities
and Exchange Commission. This press release does not constitute an offer to
sell or the solicitation of an offer to buy any securities of the Company, nor
shall there be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or
jurisdiction.

About GreenHunter Energy, Inc.

GreenHunter Energy, Inc. is a diversified renewable energy company
predominately focused on water resource management in the unconventional oil
and natural gas shale resource plays. Through its wholly owned subsidiary,
GreenHunter Water, LLC, the Company provides Total Water Management Solutions™
in the oilfield. An understanding that there is no single solution to E&P
fluids management shapes GreenHunter’s technology-agnostic approach to
services. In addition to licensing of and joint ventures with manufacturers of
mobile water treatment systems (Frac-Cycle^TM), GreenHunter Water is expanding
capacity of salt water disposal facilities, next-generation modular
above-ground storage tanks (MAG Tank™), advanced hauling and fresh water
logistics services - including 21st Century tracking technologies (RAMCAT^TM)
that allow Shale producers to optimize the efficiency of their water resource
management and planning while complying with emerging regulations and reducing
cost.

The Company’s common stock and 10% Series C Cumulative Preferred Stock is
trading on the NYSE MKT under the ticker symbols “GRH” and “GRH.PRC.”

Additional information about GreenHunter Water may be found at
www.GreenHunterWater.com

Forward-Looking Statements

Any statements in this press release about future expectations and prospects
for GreenHunter Energy and its business and other statements containing the
words "believes," "anticipates," "plans," "expects," "will" and similar
expressions constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements as a result
of various important factors, including the substantial capital expenditures
required to fund its operations, the ability of the Company to implement its
business plan, government regulation and competition. GreenHunter Energy
undertakes no obligation to update these forward-looking statements in the
future.

Contact:

GreenHunter Energy, Inc.
Jonathan D. Hoopes
President & COO
1048 Texan Trail
Grapevine, TX 76051
Tel: (972) 410-1044
jhoopes@greenhunterenergy.com
 
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