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Green Energy Live, Inc. (GELV.OB) Acquires Peck Electric as Wholly Owned Subsidiary with Strong Footing in Clean Energy Industry

Green Energy Live Inc., a clean energy company engaged in the development of sustainable biomass-to-energy conversion solutions for the U.S. livestock industry, today announced it has extended its letter of intent to acquire 100 percent of the stock of Peck Electric Inc., Vermont’s leading provider of electrical contracting services.

Green Energy Live noted that Peck has been successful in maintaining and accelerating its electrical services business with strong and consistent revenue, longstanding relationships with key customers, and has taken advantage of opportunities for expansion within the clean energy industry.

Peck’s workforce has experience in all aspects of electrical wiring for commercial, industrial and residential projects, as well as in control wiring and logic controllers, high voltage power distribution, lighting and 24-hour emergency service.

Karen Clark, president and CEO of Green Energy, said Peck is a strong company with potential to grow in the clean energy market.

“Peck Electric is a solid, well-run company with multiple and consistent revenue streams as well as potential for significant expansion in clean energy offerings. In spite of extremely tough economic conditions Peck maintained its revenue levels last year, generating $6 million in gross revenue in 2009 as it did in 2008. Green Energy Live is extremely pleased to continue to move forward with the acquisition of this growing enterprise. Peck Electric is also strategically moving into the solar industry and has just been awarded several key projects that will grow its revenue in 2010,” Clark stated in the press release.

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