HENDERSON, NV--(Marketwire - January 31, 2013) - Blue Earth, Inc. (BBLU) a renewable energy and energy efficiency services company, announced today that it signed a letter agreement to acquire a company with innovative, proprietary intelligent digital battery technology (the "IP"). The IP has developed what it believes to be the only "environmentally friendly," easy to install, flex-shaped sustainable battery backup technology available today for a wide array of vertical markets.
The global battery backup system ("BBS") or uninterruptible power supply ("UPS") market is estimated to be over $7 billion and is dominated by lead-acid products that are performance challenged, time consuming to install, have a relatively short life cycle, and are adversly impacted by environmental issues.
The IP has broad applications for market verticals within Blue Earth's core business area. The IP is expected to expand Blue Earth's business model into a number of new market verticals. Blue Earth anticipates using the technology through the sale of multiple energy efficiency programs with gross profits in excess of 50% and through multi-year service contracts.
The parties to the letter agreement and the purchase terms will be disclosed when the definitive agreement is completed and a final closing occurs. The purchase price is for restricted shares of Blue Earth Inc. common stock and a payment of notes and royalties out of the net profit of the IP company being acquired.
"We are delighted with this acquistion, which will enable us to introduce proprietary high margin products and finance programs to a number of market verticals," stated Johnny R. Thomas, CEO of Blue Earth, Inc. "In addition, the intelligent digital batteries do not have any of the hazardous outgassing risks of lead-acid or flammable and explosive risks of lithium ion batteries that have recently been the subject of numerous news stories."
BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency and renewable energy sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and substantially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit www.blueearthinc.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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