Five GreenAngel Companies on CleanTech Ready to Rocket Lists

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 23, 2011) - GreenAngel Energy Corporation ("GreenAngel") (TSX VENTURE:GAE) is pleased to report that five of its green technology investee companies --- dPoint Technologies, Delaware Power Systems, Light-Based Technologies, Paradigm Environmental and Rapid Electric Vehicles Inc. --- have been recognized as CleanTech "Ready-to-Rocket" companies in the green energy technology sector. See the ready to rocket list: http://greenangelenergy.ca/r2r/

Each year, for the past nine years, the Vancouver-based technology consulting firm, Rocket Builders has produced its "Ready-to-Rocket" list of 25 companies in B.C., based on the greatest revenue potential and investment returns. For the first time this year (February 2011) the Rocket Builders have created a list specific to Clean / Green Technology companies.

Rocket Builders' annual presentation is keenly observed by industry leaders and investors worldwide and represents a strong validation of the continued progress made by each of the GreenAngel investee companies over the past twelve months. The addition of a Cleantech list focusing on Clean and Green Energy Technology companies further justifies investments in this emerging industry. The GreenAngel Investment Model: http://greenangelenergy.ca/greentech-angel-investments/

GreenAngel's mission is to invest in early-stage private green technology businesses, developing them and achieving liquidity through acquisitions, mergers or IPOs.

dPoint Technologies develops novel polymer membranes that significantly improve the energy-efficiency of Heating, Ventilating and Air-Conditioning ("HVAC") systems used in buildings. The proceeds will be used primarily for working capital funding dPoint's growth and to expand sales and R&D activities. (www.greenangelenergy.ca/technologies/dpoint-technologies/)

Delaware Power Systems has produced the world's first universal battery module platform for electric vehicles and has recently entered into a battery supply contract for two electric vehicle prototypes and three battery systems with First Automobile Works, China's largest auto manufacturer. Delaware has also recently had its battery system installed on a concept electric vehicle of Volkswagen A.G. (www.greenangelenergy.ca/technologies/delaware-power-systems/)

Light-Based Technologies ("LBT") has developed a patent portfolio in the LED (Light Emitting Diode) control sector. LBT recently released its new "Triac" dimming solution for LED lighting fixtures. This allows LBT to make available cost-efficient, user-friendly LED lighting systems to commercial and residential markets as once-standard incandescent lighting is phased out. (www.greenangelenergy.ca/technologies/light-based-technologies-lbt)

Paradigm Environmental Technologies Inc. is a private company located in Vancouver, British Columbia, Canada that has developed MicroSludge®, a patented technology industrial and municipal wastewater treatment plants (WWTP.) MicroSludge is a sustainable technology that significantly enhances the anaerobic digestion process, thereby reducing operating costs and increasing plant capacity. MicroSludge is modular, and can be easily deployed at existing WWTP facilities. MicroSludge can also be used to process industrial wastewater applications including pulp and paper, meat and food processing, pharmaceutical, and chemical plants. (www.greenangelenergy.ca/technologies/paradigm-environmental-technologies/)

Rapid Electric Vehicles (REV) Inc has developed and is commercializing REVPack, a system that converts existing conventional internal combustion automobiles into zero-emission, electric vehicles. Its initial market thrust is the electrification of light pickup trucks typically used in commercial fleet operations. (www.greenangelenergy.ca/technologies/rapid-electric-vehicles-rev/)

The announcement by Rocket Builders attests to the progress being made towards commercialization by these companies and moves GreenAngel forward in realizing the potential of its investments.

About GreenAngel Energy

GreenAngel Energy Corp. is the first publicly traded company that invests solely in emerging private green technology companies. We provide an avenue for public investors to gain access to a portfolio of the most promising angel-stage investments across a spectrum of green technology sectors. Our focus is commercializing new technologies that produce renewable energy, improve energy efficiency, or use renewable energy resources such as water, wind and solar. We also work with companies that deploy or manage technologies and processes that reduce greenhouse gas (GHG) emissions. In addition to providing strategic capital to investee companies, GreenAngel also mentors and advises investees to help ensure these companies achieve commercial success. The firms include Delaware Power Systems, Light-Based Technologies, Habitat Carbon Assets, Rapid Electric Vehicles, DPoint Technologies, and Paradigm Environmental Technologies. For more information, please visit www.greenangelenergy.ca.

ON BEHALF OF THE BOARD

Bob de Wit, CEO and Director

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's listing of its common shares on the TSX Venture Exchange. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.