SOURCE: Red Branch Technologies, Inc.

November 30, 2009 07:30 ET

Red Branch Technologies Announces LOI With Green Power Technologies, Inc.

Company to Purchase Minority Stake in an Emerging Company Focused on the Multi-Billion Dollar Wireless Sensor Market

ASHBURN, VA--(Marketwire - November 30, 2009) - Red Branch Technologies, Inc. (PINKSHEETS: RBTI) announced today an LOI with Green Power, Inc., a Nevada Corporation. Red Branch Technologies has agreed to acquire a forty percent stake in Green Power, Inc. Terms of the agreement have not been released. Also, terms of any final agreement between the two companies is subject to final approval of the Governing Board of Directors of the respective companies.

Green Power Technologies (GPT) is developing a family of wireless products and solutions for intelligent energy management, automation and control using leading edge power and communication networks. GPT, along with its partners, will seamlessly connect mobile, wireless and electronic devices to the existing wired and wireless infrastructure. GPT's mission is to enable the market place with truly innovative wireless solutions. This system architecture will provide a dramatic cost savings for installation as well as maintenance cost through the life of the system and revolutionize the market and beyond.

About Red Branch Technologies, Inc.:

Red Branch Technologies provides sustainable-energy-powered solutions meeting commercial, industrial, municipal and federal requirements for site security, materials control, emergency communications, water purification and similar on-site applications. The company's ability to simultaneously manage multiple renewable energy sources allows Red Branch Technologies powered solutions to stay up and running longer than the competition. Mobility is another differentiating aspect of Red Branch Technologies' solutions.

The company also offers a unique set of security products for military and law enforcement applications where cost/performance represents a critical selection factor. The application areas include Explosive Ordinance Disposal (EOD) robots, vehicular inspection and Unmanned Aerial Vehicles (UAVs).

More detailed information can be found at www.RedBranchTech.com.

Safe Harbor: This letter contains 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.

Contact Information

  • Contact:
    Investor Relations
    David Donlin
    Cervelle Group
    Phone: 407-614-5959 ext. 223