SOURCE: Blue Earth, Inc.

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October 16, 2015 15:42 ET

Blue Earth Announces $4 Million Registered Direct Offering

HENDERSON, NV--(Marketwired - October 16, 2015) - Blue Earth, Inc. (NASDAQ: BBLU) an alternative/renewable power generation solutions company, announced today that it has entered into an agreement with a two institutional investors to receive $4 million in gross proceeds in a registered direct offering through the sale of common stock and warrants consisting of 8,000,000 shares of the Company's common stock, 6 month warrants to purchase 8,000,000 shares of common stock at an exercise price of $0.50 per share and five and a half year warrants to purchase 8,000,000 shares of common stock at an exercise price of $0.83. The five and a half year warrants will not be exercisable for six months from the date of issuance. If all of the warrants are exercised for cash in full, the Company would receive additional gross proceeds of approximately $10.6 million. 833,334 warrants issued to an investor in the June 2015 transaction were repriced to $0.20. These warrants are unexercisable until January 30, 2016.

The offering is expected to close on or about October 20, 2015, subject to customary closing conditions. The net proceeds of the financing will be used for general corporate purposes, including working capital.

"This offering will allow us to continue our focus on growth and execution in the power generation business," said Bob Powell, CEO of Blue Earth, Inc., "The proceeds of this offering coupled with the expected reduction of operating costs associated with the separation of our EnSite unit and planned non-recourse project level financings position us with a capital base to deliver significant shareholder value."

Chardan Capital Markets, LLC acted as the sole placement agent for this transaction and Maxim Group LLC acted as a financial advisor to the Company.

The securities described above are being offered by Blue Earth through a prospectus supplement pursuant to Blue Earth's shelf registration statement on Form S-3 as previously filed and declared effective by the Securities and Exchange Commission and the base prospectus contained therein (Registration No. 333-200107). A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities are being be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the final prospectus supplement and accompanying base prospectus may be obtained, when available, by contacting Chardan Capital Markets, LLC, 150 East 58th Street, 28th Floor, New York, NY 10155, at (646) 465-9028, or the Securities and Exchange Commission's website at http://www.sec.gov.

About BBLU

BBLU is engaged in the clean technology industry with a primary focus in energy efficiency and alternative/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 materially 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. Words such as "believes," "anticipates," "plans," "expects," "may," "will," "should," "intends," and similar expressions are intended to identify forward-looking statements. These statements relate to future events or to the Company's future financial performance, and the $2 million registered direct offering. These forward-looking statements are based on the company's current believes and expectations, 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 risks, 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, including the Company's Form 10-Ks, Form 10-Qs, Form 8-Ks, Proxy Statements and other filings. 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.

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