Del Mar, CA – Green Energy Live Inc (GELV), has made its intentions clear in the last few weeks to further penetrate the clean energy market and develop biomass to energy solution for the U.S. Livestock Industry by updating its letter of intent to buy Peck Electric, a Vermont based company that provides electrical contracting services.
This follows on from the Company’s original acquisition of Comanche Livestock Exchange in July 2009. The acquisition of Peck will give GELV further inroads into the clean energy market as Peck are already exploring potential expansions into clean energy offerings.
Peck is a good sized company, with the electrical contracting services division currently employing 60 people and the company as a whole did over $6 million in gross revenue in 2009 despite tough economic conditions.
The acquisition will go through on completion of GELV’s final due diligence and a financial audit, due to be carried out in March 2010. Upon completion of these pre-acquisition investigations, Green Energy Live and Peck Electric will determine a closing date for this transaction.
Karen Clark, President/CEO of Green Energy Live, commented: "Peck Electric is a solid, well-run company with multiple and consistent revenue streams as well as potential for significant expansion in clean energy offerings. In spite of extremely tough economic conditions Peck maintained its revenue levels last year, generating $6 million in gross revenue in 2009 as it did in 2008. Green Energy Live is extremely pleased to be moving forward with the acquisition of this growing enterprise."
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Green Energy Live, Inc. (OTCBB: GELV), Delta Air Lines Inc. (NYSE:DAL), Bristol Myers Squibb Co. (NYSE:BMY), Chesapeake Energy Corporation (NYSE:CHK), Macy's Inc. (NYSE:M), Genworth Financial Inc. (NYSE:GNW), US Airways Group Inc. (NYSE:LCC)
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