SOURCE: Blue Earth, Inc.

Blue Earth, Inc. Logo

July 17, 2013 05:30 ET

Blue Earth ("BBLU") Successfully Closes an EPCM Acquisition Expected to Generate Over $750 Million in Recurring Revenues

BBLU Will Build Seven Power Plants and Sell the Thermal and Electric Power to a Large Customer and the Local Utilities Through Long-Term Power Purchase Agreements; Power Sales Are Expected to Be $75 Million per Year With a Positive EBITDA of Over $20 Million per Year for the First Ten Years, With Adjustments for the Next Ten Years

HENDERSON, NV--(Marketwired - July 17, 2013) - Blue Earth, Inc. (OTCQB: BBLU), a renewable energy and energy efficiency services company, announced today that it has completed the acquisition of an EPCM company (engineering, procurement, construction & management) and an affiliated renewal energy company (the "Acquisitions") that specialize in the combined heat and power ("CHP") alternative energy space. BBLU is purchasing the Acquisitions, IPS Power Engineering, Inc. and Global Renewable Energy Group, Inc.

Dr. Johnny Thomas, CEO of BBLU, stated that "these Acquisitions are a transformative event for BBLU as they enable us to become a significant independent power producer ('IPP'), accelerate revenue growth and help insure the transition to positive EBITDA for 2013 and profitable operations for 2014."

BBLU is funding permitting and remaining development tasks for the initial projects from a portion of the proceeds of a recent private placement, while BBLU finalizes project financing terms for the total construction costs of over $120 million. Management anticipates that the projects will be financed primarily through project debt, which will allow BBLU to maintain ownership of the projects without significant share issuances for equity. BBLU is continuing to perform engineering tasks on additional power plants for the same customer, in anticipation of adding several more construction projects. Sellers of the Acquisitions earn bonuses when they build additional power plants, as expected.

About BBLU

BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency and 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 substantially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit

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. These statements relate to future events or to the Company's future financial performance, 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, 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. 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.

Contact Information