Green Energy Live Inc. is developing sustainable biomass-to-energy conversion technology to meet a critical need for the nation’s $154 billion livestock industry. The company plans to use its proprietary gasification technology for the development of highly innovative, on-site manure-to-electricity conversion systems.
The company today announced that it is continuing to move forward with its acquisition of Peck Electric. On April 28, 2010 Green Energy updated its letter of intent to acquire 100% of the stock in Peck Electric, an established provider of electrical contracting services which generated $6 million in gross revenue in 2009. The new updated letter contemplates closing the purchase by June 15, 2010 instead of April 25, 2010.
Peck provides commercial and residential electrical contracting, installs telecommunications systems, provides solar power installations, and designs and develops clean energy products. The company’s roster of major customers include: IBM, UPS, Energizer Battery Company and Ben & Jerry’s. The pre-acquisition audit of Peck for Green Energy is expected to be completed in late May.
The president and CEO of Green Energy Live, Karen Clark, commented on the proposed acquisition. She said, “Green Energy Live chose Peck Electric for its excellent management team, extensive systems design and development expertise, ongoing revenue and exciting new clean energy product development. Peck Electric brings several critical components to Green Energy Live that will allow us to offer clean energy solutions in the marketplace.”