Hybrid Energy to Increase Portfolio Assets by $18 Million: Signs LOI to Acquire Solar Technologies
June 07 2010 - 7:30AM
Marketwired
Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) announced the
signing of a Letter of Intent with KS IP Holdings, LLC (KS-IPH), a
private Intellectual Property Holding company specializing in clean
energy technologies, to acquire and develop a select group from
KS-IPH's Solar Energy Technologies portfolio. The transaction is
valued at $18 million and will be completed as an equity-based
transaction with no issuance of debt or use of cash reserves.
The Company is currently completing its due diligence on the
individual assets, systems and operations as the first acquisition
under its recently announced Solar Energy Acquisition and
Development Project; the first official project of the Company's
diversification strategy. The Company will be issuing formal
updates as the review and integration process progresses and
anticipates a formal closing on this Letter of Intent within the
next 30 days.
The Solar Energy Acquisition and Development Project is the
first major acquisition and development project under the Company's
New Energy Initiative, which calls for the aggressive investment
in, acquisition of and development of nascent 'New Energy'
technologies Intellectual Property assets and operations in the
Clean Energy, Energy Smart Technologies and Carbon Capture &
Storage sectors of the Energy Sector.
The Company recently announced Phase II of its growth and
acquisition strategy; the diversification and expansion of its
current asset holdings with the launch of the 'New Energy
Initiative.' The Company has successfully established a strong and
growing asset base of clean energy producing assets with strong
recurring profits and cash-flows. The company will continue its
acquisitions in this sector and expand the scope of its
acquisitions.
The Solar Energy Acquisition and Development Project, together
with the addition of technologies to increase the Company's
production efficiencies, will increase the Company's profits and
shareholder value.
The Solar Energy Sector is currently entering the 'Perfect
Storm,' according to Pike Research, the respected market research
and consulting firm that provides in-depth analysis of global clean
technology markets. Pike Research forecasts that worldwide solar
demand, driven by lower costs and greater availability of credit,
will increase to 10.1 gigawatts (GW) in 2010, a year-over-year
increase of almost 43%.
"The Solar Energy industry will return to high growth in 2010
and also over the next 5 years. Even in the slowest growth
scenario, the global market will be 2.5 times its current size by
2014. Under the Production Led scenario, the fastest growing
forecast, annual industry revenues approach $100 billion by 2014,"
according to NPD Group which publishes The Leading Annual World
Solar PV Industry Report.
The company is assessing the acquisition of several new assets,
operations and technologies and encourages further technology
submittals and developmental joint ventures through the Merger
& Acquisition portal at www.HybridEnergyHoldings.com
The Company continues to grow its Gas & Oil production
holdings and most recently announced its planned acquisition of new
proven reserves of Natural Gas. The estimated value of this
acquisition is $30,000,000. Full details and disclosures will be
made upon completion of the transaction. The Company recently
announced its production levels had increased 864% year-over-year;
and expects further increases in production levels and increases in
revenue and shareholder value.
The Company's portfolio consists of multiple energy production
properties consistently delivering profitably and strong recurring
cash-flows. The company's current holdings include 35 Billion Cubic
Feet of reserves and produces from an estimated $30,000,000 in
active reserves and an additional estimated $145,000,000 in
available reserves. Acquisitions currently under consideration and
when completed are expected to bring the company's portfolio value
above $200,000,000 in proven energy reserves.
About Hybrid Energy Holdings Hybrid Energy
Holdings (HEH) acquires and operates profitable energy companies
with strong historical cash-flow and sustainable profitability.
HEH's acquisitions are focused primarily on traditional and proven
fuel production and the latest in energy conservation and power
co-generation technologies. HEH may acquire nascent energy
technology or rights as portfolio enhancing assets. HEH's primary
business strategy is the acquisition of diverse, profitable energy
related assets that provide synergistic profits and revenue
enhancements across all portfolio companies.
HEH believes its combination of profitability and mitigated-risk
funding structures provides long-term shareholder equity
appreciation.
The company maintains its web site at:
www.HybridEnergyHoldings.com
Safe-Harbor Statement This release
contains statements or projections regarding future performance
that are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those projected as a result of certain risks and
uncertainties. The company's filings contain various RISK FACTORS
(and are incorporated on the Company's website "Investors" section
by reference) and should be read before any investment
decision.
Contact: Investor Relations Tel: +1 (775) 636-7602 Fax: +1 (775)
996-7330 info@hybridenergyholdings.com
www.HybridEnergyHoldings.com
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