SOURCE: Clean Energy and Power, Inc.

November 09, 2010 09:00 ET

Clean Energy and Power, Inc. Announces Initial Solar Project in South Bohemia Ready to Generate Revenue

WARWICK, RI--(Marketwire - November 9, 2010) -  Clean Energy and Power, Inc. (PINKSHEETS: KEPI) (www.cleanenergyandpower.com) today announced it has received confirmation that its solar project in South Bohemia, Czech Republic is now connected to the power grid.

Dennis Shen, President of Clean Energy and Power, said today, "We have received confirmation that our initial solar project in South Bohemia, Czech Republic has completed its testing and is now confirmed to begin generating revenue. This is the first of three projects in the Czech Republic that the company has completed and we should start receiving daily reports as to the amount of electricity and Euros being generated. This will begin showing up as revenue within the next thirty days."

"We are pleased to see our solar project producing power and are delighted to know that this electric production is helping the environment as we put clean energy into the electrical grid," stated Erwin Vahlsing, CEO of Clean Energy and Power. "We are looking to expand into our new projects both in the Czech Republic and other countries that have good government subsidized models."

Mr. Shen has recently returned from visiting several countries and is working on several new solar contracts with both existing properties as well as with new opportunities. "As new projects are committed to, we will provide additional alerts to our shareholders as they develop," stated Mr. Vahlsing.

In other company news, the financial statements required for the filings are being finalized with the auditors. Filing with the SEC is imminent.

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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