SOURCE: Consolidated Energy & Technology Group, Inc.

April 07, 2006 15:54 ET

Consolidated Energy Announces Intention to Seek AIM Listing for Subsidiary, TecEnergy Enterprises Limited

MIAMI, FL -- (MARKET WIRE) -- April 7, 2006 -- Consolidated Energy & Technology Group, Inc. (OTC: CGGE) announced today that its wholly owned subsidiary, TecEnergy Enterprises Limited, has recently engaged a London based firm to act as the Company's lead financial advisor, nominated advisor and stockbroker in connection with the proposed placing of shares to raise £5 million GBP on behalf of the Company and the admission of the enlarged Company to trading on AIM in London. TecEnergy has also confirmed the appointment of a London based Law firm, Accounting firm and Public Relations firm to facilitate the proposed placing of shares and AIM listing.

Subject to legal and accounting advice and the relevant rules and regulations, none of which have yet been obtained, Consolidated anticipates retaining ownership of a large percentage of TecEnergy after the proposed AIM listing and intends to pass benefit of a small percentage of TecEnergy directly to Consolidated shareholders.

"The successful completion of this placing of shares and AIM listing will provide TecEnergy the funding and independence it requires to further develop the three businesses, waste management, green electricity production and sales and manufacture of niche products from recovered resources that are now operational," stated the CEO.

Consolidated Energy is a holding company in the business of acquiring and developing proven technologies which seek to provide sought-after solutions to current environmental problems in our modern world, with special emphasis on alternative energy, waste management and land remediation.

Consolidated Energy offers turnkey solutions in the waste sector and at the same time uses these resources to provide alternative energy and other products.

Further information about Consolidated Energy can be found at www.cetg-inc.com

NOTE: Statements made by Consolidated Energy & Technology Group, Inc. that are not purely historical are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve a variety of risks and uncertainties, including, without limitation, statements with respect to the Company's strategy and prospects. These statements are made based upon information available to the Company at the time, and the Company assumes no obligation to update forward-looking statements. Readers and investors are cautioned that the Company's actual results may differ materially from those described in the forward-looking statements due to a number of factors including, but not limited to, (1) demand for the Company's products and services; (2) the Company's ability to develop and launch its markets; (3) changes in the current and future business environment, including interest rates and capital and consumer spending; (4) the impact of competitive products and pricing; (5) reliance on key strategic alliances; (6) the availability of funding and skilled personnel; (7) the regulatory environment; (8) risks associated with start-up businesses; and (9) the impact of yet unknown competitors, technological obsolescence, problems with technology, problems with shipment, inadequate supplies and business opportunities.

Contact Information

  • Contact:
    Seamus Lagan
    CEO
    Consolidated Energy & Technology Group, Inc.
    +305 735 8042