SOURCE: Clean Energy and Power, Inc.

November 16, 2010 09:00 ET

Clean Energy and Power, Inc. Launches Renewable Energy Bio Fuels Division

Company Is in Final Negotiations With a Strategic Partner

WARWICK, RI--(Marketwire - November 16, 2010) - Clean Energy and Power, Inc. (PINKSHEETS: KEPI) (www.cleanenergyandpower.com) announced today that management has decided to launch a new division focusing on renewable energy developed from non-edible feedstock. This decision comes after several months of reviewing the various bio fuel opportunities and market demands.

In the coming days, the Company will be announcing its selection of the feedstock and the agreement with a strategic partner that will help lead our entry into this high growth, high profit market segment.

Dennis Shen, President of Clean Energy and Power, said today, "My earlier experience in developing an economical method for generating bio fuel from Algae at Biocentric Algae, has led me to continue my research into non-edible feedstock that will be even more economical than algae and yield greater amounts of bio fuel over shorter periods of time. Therefore while the company continues to build out its Eastern European solar projects, our plan is to launch this new renewable bio fuel division that will generate a new sustainable revenue model."

"In keeping with our business growth strategy, we continue to search out feasible opportunities that can quickly generate profitable revenue streams for the Company while maintaining our focus in the clean energy sectors," stated Erwin Vahlsing, Jr., CEO of Clean Energy and Power. "Mr. Shen's experience and qualifications have helped us enormously as we make determinations of which projects to pursue. We are excited at the prospect of a bio fuel that does not utilize edible feedstock."

About Clean Energy and Power

The Company is focused on alternative energy opportunities. The Company is dedicated to acquiring fully developed environmental projects and putting them into production. www.cleanenergyandpower.com.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. 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. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company cautions that these statements are further qualified by important factors that could cause actual results to differ materially from those in the forward looking statements, including, among others, the following: reduced or lack of increase in demand for the Company's products, competitive pricing pressures, and the level of expenses incurred in the Company's operations. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

Safe Harbor:
This press release includes forward-looking statements related to theglobe.com, inc. that involve risks and uncertainties, including, but not limited to, risks and uncertainties relating to integration of newly acquired businesses and assets, product delivery, product launch dates, risks relating to the Internet, development and protection of technology, the availability of financing or other capital to fund its plans and operations, the management of growth, market acceptance of our products, our ability to compete successfully against established competitors with greater resources, the uncertainty of future governmental regulation, pending litigation and other risks. These forward-looking statements are made in reliance on the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these and other factors that could affect Clean Energy and Power, Inc.'s future results and business plans, please see the Company's filings with the Securities and Exchange Commission, including in particular our Annual Report on Form 10-K for the year ended December 31, 2006, and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2007. Copies of these filings are available online at http://www.sec.gov. Prospective investors are cautioned that forward-looking statements are not guarantees of performance. Actual results may differ materially and adversely from management expectations.

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