SOURCE: Green Energy Live

Green Energy Live

January 06, 2010 04:00 ET

Green Energy Live Achieves Milestones Including Increased Sales, Ongoing Revenue, Key Acquisition and New Technology Focus

GRAND RAPIDS, MI--(Marketwire - January 6, 2010) - Green Energy Live Inc. (OTCBB: GELV), a growing clean energy company engaged in developing sustainable biomass-to-energy conversion solutions for the U.S. livestock industry, achieved significant milestones in 2009. Green Energy Live closed its first acquisition of a revenue-producing company, and, using its proprietary gasification technology, anticipates developing on-site manure-to-electricity conversion systems for sale to the nation's 1.2 million ranchers and farmers. The company intends to build on that growth to pursue additional acquisitions, increase revenues and move forward with technology development this year.

In the third quarter of 2009 Green Energy Live closed the acquisition of Comanche Livestock Exchange. Comanche is a profitable provider of live animal auction and hauling services and has been in business for 60 years. The acquisition of Comanche was a strategic accomplishment for Green Energy Live. Comanche provides Green Energy with a source of revenue to support technology development as well as an established market presence in the livestock industry. Green Energy Live intends to leverage Comanche's proven sales channel and extensive network of dairy and livestock industry contacts for its planned manure-to-energy conversion solutions.

Green Energy Live recently disclosed strong third quarter financial performance for Comanche, which is a wholly owned subsidiary. Comanche generated an 18% increase in revenue and a 6% increase in net income for the three months ended September 30, 2009 over the same period in 2008.

Green Energy Live intends to utilize proprietary gasification technology to develop self-contained, small footprint, renewable energy gasification systems that will enable livestock operators to convert animal waste into clean energy. The company is focused on developing innovative biowaste conversion technologies that will process methane gas from the manure of animals and convert it into electricity to supply the farm's power requirements and generate revenue selling surplus power back to local utilities. By recycling their manure operators will be able to reduce hauling and disposal costs, handle surplus waste and reduce its impact on the environment.

The company has focused on the livestock industry which has a critical need to dispose of the waste generated by its operations. Green Energy Live phased out previous plans to expand into the ethanol industry in favor of endeavoring to develop manure to energy conversion systems which the company believes has the greatest potential for widespread adoption and commercial success.

Karen Clark, President/CEO of Green Energy Live, commented: "Having closed out a very successful year, Green Energy Live is excited to build on the progress achieved. Additional strategic acquisitions, expansion of Comanche's revenues and market share, and technology development are our primary objectives for 2010."

Green Energy Live's Form 10-Q filed on November 24, 2009, which includes its consolidated financial statements and incorporates Comanche's financial results, can be viewed on the SEC's EDGAR website at http://www.sec.gov/edgar/searchedgar/companysearch.html. As disclosed in the Form 10-Q, for the three month period ended September 30, 2009, the company reported an overall net loss of $250,873, an increase of $99,397 or 39% over the same period in 2008. Green Energy Live did not report any revenues in 2008. Green Energy Live's management believes that its acquisition of Comanche and the inclusion of Comanche's revenues in its operating results will cause its net losses to decrease, and that eventually it will achieve profitability; however, there is no assurance that this will occur.

About Green Energy Live (GELV.OB)

Green Energy Live Inc. is engaged in developing sustainable biomass-to-energy conversion technology to meet a critical need for the nation's $154 billion livestock industry. The company plans to use its proprietary gasification technology for the development of highly innovative, on-site manure-to-electricity conversion systems to enable livestock farmers and ranchers to convert their animal waste into clean, renewable energy.

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements include, without limitation, plans and expectations regarding the development of GELV's gasification technology and other projects and operations. GELV has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith based upon currently available information, and is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to: (1) GELV's need for additional financing, which is not assured and which may result in dilution of shareholders; (2) GELV's status as a small company with a limited operating history; and (3) regulatory restrictions in the production of bio-fuels. For a more detailed discussion of such risks and other factors, see the Company's 2008 Annual Report on Form 10-K, filed on March 31, 2009, with the Securities and Exchange Commission, and its other SEC filings. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, to update or provide advice in the event of any change, addition or alteration to the information contained in this news release including such forward-looking statement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Contact Information