Blue Earth to Acquire a Company With Patented Demand Response Refrigeration Technology
HENDERSON, NV -- (Marketwired) -- 07/01/13 -- Blue Earth, Inc. (BBLU.OB) (OTCQB: BBLU) announced today that it has signed a binding letter of agreement to acquire a company with patented demand response refrigeration technology. The acquisition will be through an exchange of BBLU common shares for all the ownership of the refrigeration technology company.
This acquisition will allow BBLU to achieve energy savings for our customers through software solutions that complement and enhance the retrofit solutions that BBLU offers. The software will also enable BBLU to enter into service agreements that allow certain types of refrigeration equipment failures to be predicted, thereby allowing preventive service based on need, rather than periodic scheduled service calls. The predictive nature of the service should decrease the amount of food spoilage that our customers suffer due to equipment failures.
Dr. Johnny Thomas, CEO, said, "This technology will enhance our ability to serve customers and provide valuable, patented technology that will enhance and expand our energy solutions opportunities. The acquisition will enhance our proprietary 'Keep Your Cool"' program and allow us to extend the footprint throughout the United States."
Acquisition update: The two pending acquisitions, an intelligent digital battery technology acquisition announced January 31, 2013 and a CHP acquisition announced April 15, 2013 are progressing through the appropriate due diligence process toward closing dates. Dr. Thomas said: "BBLU management is working with the managers of these pending acquisitions as if they have already closed. Managers of the pending acquisitions are involved in strategic planning meetings and BBLU management is consulted on decisions of the pending acquisitions when appropriate. BBLU is already funding customer development expenses for the CHP opportunities to ensure that projects stay on schedule."
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 firstname.lastname@example.org Liviakis Financial Communications, Inc.Michael Bayeswww.liviakis.com415.389.4670Michael@Liviakis.com
Source: Blue Earth, Inc.