SOURCE: BlueNRGY

BLUENRGY

January 05, 2016 08:30 ET

BlueNRGY Group Announces New Leadership for U.S. Renewable Solutions 9MW Added to Solar Project Backlog

SYDNEY, AUSTRALIA--(Marketwired - Jan 5, 2016) - BlueNRGY Group Limited (OTCBB: CBDEE) ("BlueNRGY" or "Company"), a global provider of engineered systems and solutions for distributed power generation and climate control/energy efficiency, today announced the appointment of Peter Maros as Senior Vice President and head of its North American Renewable Solutions Business Unit. In this capacity Mr. Maros also serves as the senior manager of Green Earth Developers LLC, (GED), a BlueNRGY subsidiary focused on design and implementation of U.S. megawatt-scale solar projects. Prior to joining BlueNRGY, Mr. Maros, held positions as Executive Director for Shoals Technologies Group and Director of Renewables for Future Energy Solutions. Mr. Maros is a graduate of the Kelley School of Business - Indiana University (Bloomington). 

William Morro, BlueNRGY's Executive Chairman and CEO stated, "We are very pleased that Peter has accepted the position of Senior Vice President and head of North American Renewable Solutions at BlueNRGY. Peter's addition to the management team has had immediate impact for BlueNRGY. Permission to operate has been granted within the last few weeks on three PV projects totaling 18.6 MW-DC designed and constructed by GED in North Carolina and Peter has finalized contracts for the design and installation of three additional PV projects with a combined capacity of 14.5 MW-DC. With other projects already in our backlog, we expect to largely complete installations totaling about 27 MW-DC during the first calendar quarter of 2016."

Peter Maros, Senior Vice President of BlueNRGY, stated, "I look forward to working with the BlueNRGY management team and driving growth in the Company's renewable energy business. The North American solar market is one of tremendous potential, greatly enhanced by the December extension of the U.S. federal tax credit program. I am excited to be advancing BlueNRGY's capabilities and customer base with a seasoned organization that has designed and installed more than 200MW of renewable power generation systems worldwide and with the perspectives that come from BlueNRGY's other businesses monitoring operating performance for more than 2GW of solar installations and providing post-installation services."

About BlueNRGY Group Limited,

Established in 1989, BlueNRGY Group Limited is a leader in engineered solutions for the management of distributed power generation and climate control/energy efficiency systems. It's data analytics and life-cycle maintenance and support capabilities are deployed worldwide and are relied upon by system owners, financial institutions, utilities, government bodies and component manufacturers to deliver mission-critical information. As a global leader in delivery of best-in-class technology, BlueNRGY has designed and installed more than 230 MW of solar and wind systems for commercial and utility applications. The company's Parmac division is a leader in energy-efficient climate control systems in its served Australian markets. 

With regional headquarters in Australia, the USA and Europe, BlueNRGY is positioned to serve customer operations globally. For more information, visit www.BlueNRGY.com.

Caution Concerning Forward-Looking Statements

This news release contains 'forward-looking statements. Such forward-looking statements can be identified by, amongst other things, the use of forward-looking language, such as the words 'plan', 'believe', 'expect', 'anticipate', 'intend', 'estimate', 'project', 'may', 'would', 'could', 'should', 'seeks', or 'scheduled to', or other similar words, or the negative of these terms, or other variations of these terms or comparable language, or by discussion of strategy or intentions.

Such forward-looking statements are subject to various risks, as well as those set forth in the Company's most recent annual report on Form 20-F and other filings with the SEC, and involve assumptions, estimates, and uncertainties that reflect current internal projections, expectations or beliefs. Such statements include expectations about achieving growth or growth plans, building the Company's customer base and revenues and successfully completing contracted backlog within certain time parameters. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements contained in this news release are qualified in their entirety by these cautionary statements and the risk factors described above. Furthermore, all such statements are made as of the date of this release, and BlueNRGY Group Limited assumes no obligation to update or revise these statements unless otherwise required by law.

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