SOURCE: Green Energy Live Inc.

February 04, 2010 02:43 ET

Green Energy Live Expands Operations to Accommodate Growth

GRAND RAPIDS, MI--(Marketwire - February 4, 2010) - Green Energy Live Inc. (OTCBB: GELV), a clean energy company engaged in developing sustainable biomass-to-energy conversion solutions for the U.S. livestock industry, is pleased to announce that the company has moved into new offices to accommodate its growing business. With its expanded team and new corporate headquarters Green Energy Live is focusing on the development of on-site manure to energy converters for farmers and ranchers, pursuing acquisitions of clean energy companies and technologies, and achieving sales and revenue increases through its wholly owned Comanche Livestock Exchange subsidiary.

Green Energy Live has moved out of a smaller executive office suite and into 2,500 square feet of newly leased office space in Wyoming, Michigan. The company is bringing together its executive, accounting and business development staff members to accommodate its plans for expansion.

The company has also added to its workforce. Green Energy Live has hired a seasoned Manager of Special Projects to identify green energy companies and technologies for potential acquisition, manage any upcoming acquisitions, align financial functions and reporting, provide support for Comanche's business, and manage marketing activities. A highly qualified in house accounting staff member has also been hired to support financial and reporting functions.

Comanche Livestock Exchange, a wholly owned subsidiary of Green Energy Live, generated an 18% increase in revenue and a 6% increase in net income in third quarter 2009. The company is a profitable livestock auction and hauling services provider with a 60 year operating history. Green Energy Live anticipates reporting on fourth quarter performance later this month.

Karen Clark, President/CEO of Green Energy Live, commented: "We are pleased to announce that we have officially outgrown our office space. With the expansion into new offices, addition of exceptional new team members and the identification of new opportunities to grow our business this is a very exciting time for Green Energy Live. We are balancing expansion activities with a keen eye on the bottom line, keeping overhead and expenses low while facilitating further growth."

Green Energy Live's Form 10-Q filed on November 24, 2009, which includes its consolidated financial statements and incorporates Comanche's financial results, can be viewed on the SEC's EDGAR website at http://www.sec.gov/edgar/searchedgar/companysearch.html. As disclosed in the Form 10-Q, for the three month period ended September 30, 2009, the company reported an overall net loss of $250,873, an increase of $99,397 or 39% over the same period in 2008. Green Energy Live did not report any revenues in 2008. Green Energy Live's management believes that its acquisition of Comanche and the inclusion of Comanche's revenues in its operating results will cause its net losses to decrease, and that eventually it will achieve profitability; however, there is no assurance that this will occur.

About Green Energy Live (OTCBB: GELV)

Green Energy Live Inc. is engaged in developing sustainable biomass-to-energy conversion technology to meet a critical need for the nation's $154 billion livestock industry. The company plans to use its proprietary gasification technology for the development of highly innovative, on-site manure-to-electricity conversion systems to enable livestock farmers and ranchers to convert their animal waste into clean, renewable energy. Green Energy Live acquired Comanche Livestock Exchange in July 2009. The wholly owned subsidiary enhances Green Energy Live's ability to bring its clean energy technology to market by providing ongoing revenue to support technology development, livestock industry experience, contacts with potential customers, and an established sales channel.

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements include, without limitation, plans and expectations regarding the development of GELV's gasification technology and other projects and operations. GELV has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith based upon currently available information, and is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to: (1) GELV's need for additional financing, which is not assured and which may result in dilution of shareholders; (2) GELV's status as a small company with a limited operating history; and (3) regulatory restrictions in the production of bio-fuels. For a more detailed discussion of such risks and other factors, see the Company's 2008 Annual Report on Form 10-K, filed on March 31, 2009, with the Securities and Exchange Commission, and its other SEC filings. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, to update or provide advice in the event of any change, addition or alteration to the information contained in this news release including such forward-looking statement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

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