Blue Earth ("BBLU") Successfully Closes an EPCM Acquisition Expected to
Generate Over $750 Million in Recurring Revenues
BBLU Will Build Seven Power Plants and Sell the Thermal and Electric
Power to a Large Customer and the Local Utilities Through Long-Term
Power Purchase Agreements; Power Sales Are Expected to Be $75 Million
per Year With a Positive EBITDA of Over $20 Million per Year for the
First Ten Years, With Adjustments for the Next Ten Years
HENDERSON, NV -- (Marketwired) -- 07/17/13 -- Blue Earth, Inc.
(OTCQB: BBLU), a renewable energy and energy efficiency services
company, announced today that it has completed the acquisition of an
EPCM company (engineering, procurement, construction & management)
and an affiliated renewal energy company (the "Acquisitions") that
specialize in the combined heat and power ("CHP") alternative energy
space. BBLU is purchasing the Acquisitions, IPS Power Engineering,
Inc. and Global Renewable Energy Group, Inc.
Dr. Johnny Thomas, CEO of BBLU, stated that "these Acquisitions are a
transformative event for BBLU as they enable us to become a
significant independent power producer ('IPP'), accelerate revenue
growth and help insure the transition to positive EBITDA for 2013 and
profitable operations for 2014."
BBLU is funding permitting and remaining development tasks for the
initial projects from a portion of the proceeds of a recent private
placement, while BBLU finalizes project financing terms for the total
construction costs of over $120 million. Management anticipates that
the projects will be financed primarily through project debt, which
will allow BBLU to maintain ownership of the projects without
significant share issuances for equity. BBLU is continuing to perform
engineering tasks on additional power plants for the same customer,
in anticipation of adding several more construction projects. Sellers
of the Acquisitions earn bonuses when they build additional power
plants, as expected.
BBLU is engaged in the clean technology industry with a primary focus
on the energy efficiency and renewable energy sectors. We strive to
participate in the global movement for a sustainable planet by
offering products and services that will optimize energy use, reduce
ronmental emissions and substantially reduce energy costs
to our customers. For more information about Blue Earth, Inc., please
Forward Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. All statements other than
statements of historical facts included in this press release are
forward-looking statements. These statements relate to future events
or to the Company's future financial performance, and involve known
and unknown risks, uncertainties and other factors that may cause our
actual results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity,
performance or achievements expressed or implied by these
forward-looking statements. Investors should not place any undue
reliance on forward-looking statements since they involve known and
unknown, uncertainties and other factors which are, in some cases,
beyond the Company's control which could, and likely will, materially
affect actual results, levels of activity, performance or
achievements. Any forward-looking statement reflects the Company's
current views with respect to future events and is subject to these
and other risks, uncertainties and assumptions relating to
operations, results of operations, growth strategy and liquidity.
Such risks, uncertainties and other factors, which could impact the
Company and the forward-looking statements contained herein are
included in the Company's filings with the Securities and Exchange
Commission. The Company assumes no obligation to publicly update or
revise these forward-looking statements for any reason, or to update
the reasons actual results could differ materially from those
anticipated in these forward-looking statements, even if new
information becomes available in the future.
Investor Relations Contact:
Blue Earth, Inc.
John C. Francis
702.263.1808 Ext. 103
Liviakis Financial Communications, Inc.
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