SOURCE: Green Energy Live

Green Energy Live

September 27, 2010 07:00 ET

Green Energy Live, Inc. Extends Letter of Intent to Acquire Peck Electric

GRAND RAPIDS, MI--(Marketwire - September 27, 2010) - Green Energy Live, Inc. (OTCBB: GELV) is a growing clean energy company focusing on sustainable "clean side of green" solutions for the U.S. livestock industry. On September 26, 2010 Green Energy Live updated its Letter of Intent to acquire 100% of the stock in Peck Electric, Vermont's leading provider of commercial electrical contracting services. Through its renewal of this letter of intent to acquire Peck Electric, Green Energy Live has various opportunities to expand into new areas of clean energy products and services. 

Besides expanding into solar energy in 2010, Peck is providing its expertise to ElectroCell Technologies, Inc. as ECT brings the new "single phase" model of its patented manure treatment machinery into the North American market. Peck is the exclusive vendor to manufacture core electrical components for ECT's groundbreaking process. This technology uses precisely managed electrical current to treat manure and dramatically reduces pathogens, odor, and excess nutrients in livestock manure. Livestock waste is one of the largest pollutants of lakes, rivers and estuaries in North America and farmers are under increasing regulatory pressure to manage it more effectively. ECT's technology provides farmers with a powerful tool for regulatory compliance, and it also provides productivity benefits that actually improve farm profits. Peck is poised to increase its revenue based on the forecasted demand for these machines. 

Karen Clark, President/CEO of Green Energy Live, commented: "Peck Electric is a solid, well-run company with multiple and consistent revenue streams and is capitalizing on opportunities to expand into new clean energy revenue streams. Peck Electric has collaborated with ElectroCell Technologies, Inc. for 5 years in the design of the control panel for their patented machine, as well as the new 'single phase' machine that was introduced into the North American market this past week. ECT has entered into the operational phase of their business plan and Peck benefits as the sole supplier of the control panels for these machines. We are very excited at the various new areas of 'the clean side of green' that Peck has moved into as it expands from the traditional areas of its 40+ years of electrical contracting business. Green Energy Live is pleased to continue to move forward with the acquisition of this growing enterprise and we have made tremendous strides with Peck this summer as we prepare to complete this acquisition. We are now in active discussions with various funding sources that have shown interest in our business plan. Green Energy Live and Peck Electric will determine a closing date for this transaction once the pre-acquisition activities are completed."

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 2009 Annual Report on Form 10-K, filed on April 17, 2010, 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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