Green Bridge Industries, Inc. Acquires Ten Percent of Team Energy, Inc.
10 Mars 2011 - 3:24PM
Marketwired
Green Bridge Industries, Inc. (PINKSHEETS: GRBG) is pleased to
announce that the Company now holds a ten percent interest of the
private Florida based corporation, Team Energy, Inc. The purchase
price of $400,000 will be paid in the form of 4,000,000 shares of
restricted common stock in Green Bridge Industries based on $0.10
per share. According to the terms of the agreement, Green Bridge
will have the option to purchase the remaining equity stake in Team
Energy for future cash consideration.
Team Energy, Inc. has been chosen as one of the inaugural
businesses to set up an office at the brand new University of
Central Florida Business Incubator in St. Cloud, Florida. The goal
of the UCF Business Incubation Program and its community partners
is to facilitate smarter, faster startup and growth of emerging
companies so those companies will become financially successful,
high growth companies in the community. Team Energy is projected to
generate an EBITDA of $3,635,180 in 2012 and total revenue of
$4,320,000. The Company also projects an EBITDA of $43,551,800 and
total revenue of $50,400,000 by 2016.
The Company is a seasoned developer of Supply Side Power
projects. Team Energy's Core Management has over 75 years of
successful power project development, design/build, ownership,
operation and finance of power facilities (public and private) in
the United States, Canada and Internationally. Team Energy is a
multi-disciplined Energy Service Company (ESCO) which focuses on
providing Commercial and Industrial customers' performance based
contracts through the delivery of Power Purchase Agreements. Team
Energy thrives on engineering the correct combination of "smart"
technologies, an end result of lowering its customer's energy loads
and improving processes without investment of capital.
"We are excited to welcome Green Bridge Industries as a new
investor. We believe that through their network, Team Energy will
be positioned for dramatic growth," stated Don Wood, CEO of Team
Energy, Inc.
"This acquisition immediately enables Green Bridge Industries to
enter various vertical markets," stated William White, Chairman and
CEO of Green Bridge Industries, Inc. "The experience both teams
bring together positions the Company for tremendous growth
throughout 2011."
Green Bridge recently announced that it has launched an
aggressive merger and acquisition campaign in order to expand its
presence in the multi-billion dollar "green" industry. In addition
to building its EZ Pak™ product line, Green Bridge Industries is in
the process of evaluating acquisition candidates that have a unique
technology or product that can quickly add value to the Company's
business model and corporate philosophy.
To learn more about Team Energy, Inc., please visit:
http://www.teamenergy-inc.com/index.php
About Green Bridge Industries, Inc.: Green Bridge Industries is
a Green Products & Technologies company. Since the Company's
inception, it has grown and thrived in the area of green cleaners.
Green Bridge Industries has plans to upgrade its current products
as well as introduce new product lines. The first of these is its
new EZ PAK™ product line, a dissolvable packet aimed at lowering
our carbon footprint while still offering superior cleaning
performance as compared to traditional, toxic cleaners. The Company
is also actively looking towards joint venture partnerships and
acquisitions in the alternative energy sector. For more information
on Green Bridge Industries, visit:
http://www.greenbridgeindustries.com/
Safe Harbor Act: This release includes forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 that involves
risks and uncertainties including, but not limited to, the impact
of competitive products, the ability to meet customer demand, the
ability to manage growth, acquisitions of technology, equipment, or
human resources, the effect of economic business conditions, and
the ability to attract and retain skilled personnel. The Company is
not obligated to revise or update any forward-looking statements in
order to reflect events or circumstances that may arise after the
date of this release.
Contact: Green Bridge Industries, Inc at:
InvestorRelations@greenbridgeindustries.com
Green Bridge Industries (CE) (USOTC:GRBG)
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