Blue Earth Signs to Acquire an Epcm Company Expected to Generate Over $800 Million in Revenues
HENDERSON, NV -- (Marketwired) -- 04/15/13 -- Blue Earth, Inc. (BBLU.OB) (OTCQB: BBLU), a renewable energy and energy efficiency services company, announced today that it has signed a binding LOA to acquire an EPCM company (engineering, procurement, construction management company) and an affiliated renewal energy company (the "Acquisitions") that specialize in the combined heat and power ("CHP") alternative energy space. Initially, the Acquisitions are to build seven projects for a substantial New York Stock Exchange customer that are expected to generate over approximately $100 million in EPC revenues from the date of the close through December 31, 2014. Recurring revenue from power production is forecasted to contribute up to over approximately $800 million in revenue with EBITDA's of over approximately $200 million to Blue Earth, over a ten-year period after completion of construction.
Closing is contingent upon due diligence with the customers, project finance sources and other items customary for transactions of this type. The acquisition will be through the issuance of restricted shares of BBLU common stock subject to vesting schedules based upon the completion of milestones.
Dr. Johnny Thomas, CEO/President of BBLU, notes that "Projects of this size will accelerate BBLU's revenue growth and the transition from negative EBITDA for 2012 to positive EBITDA for 2013. We are very excited about adding additional experienced management and EPCM professionals to our BBLU team. This EPCM group specializes in development, engineering and management of CHP projects, while subcontracting much of the construction. Therefore, the new team will be complementary to our Xnergy team that also provides construction teams for CHP projects, in addition to developing and engineering projects."
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 harmful environmental emissions and substantially reduce energy costs to our customers. For more information about Blue Earth, Inc ., please visit www.blueearthinc.com.
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 www.blueearthinc.com 702.263.1808 Ext. 103 email@example.com Liviakis Financial Communications, Inc. Michael Bayes www.liviakis.com 415.389.4670Michael@Liviakis.com
Source: Blue Earth, Inc.