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GreenHouse Holdings, Inc. (GRHU.OB) to Acquire LifeProtection Inc.

GreenHouse Holdings Inc. is a developer of sustainable and eco-friendly energy solutions and infrastructure that can be rapidly deployed. The company announced today the signing of a definitive agreement to purchase Life Protection Inc. in exchange for company shares.

Life Protection provides innovative training, support, design and construction of facilities and services to meet the needs of the US government, military and law enforcement agencies. The acquisition is expected to be accretive to GreenHouse Holding’s 2010 earnings and will provide the company with an estimated revenue contribution in excess of $2 million for 2010. Life Protection is currently generating gross margins of 37 to 38 percent and pretax margins of 15 to 16 percent.

One of the key features of the acquisition is that it will immediately establish GreenHouse Holdings as a leading supplier of Rapidly Assembled Portable Structures (RAPS), which the United States Marine Corps and United States Navy EOD (Explosive Ordinance Disposal) have selected for their shelter/unit training requirements.

The agreement is also expected to yield significant cross selling/cross marketing opportunities for the newly combined company. The addition of GreenHouse’s water desalination, sanitation, food production, renewable energy and fuel production products fit seamlessly into Life Protection’s existing portfolio to sell to the United States government, providing the military with a one-stop shop for their training needs.

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