RenuEn Corp Announces Acquisition of Alquimi Solar
14 Marzo 2013 - 2:36PM
Marketwired
RenuEn Corporation (OTC Pink: RENU), a Renewable Energy Development
Company, today announced the acquisition of Alquimi Solar, a Saddle
Brook, New Jersey-based solar and renewable energy development
company.
"I am pleased to announce the acquisition of Alquimi Solar, and
to welcome them to the RenuEn team," said Don Wood, CEO of RenuEn.
"Alquimi has an extensive pipeline of developed projects as well as
a dozen joint venture partnerships with some of the largest
renewable energy companies in the United States, including solar,
wind and geothermal projects. The Alquimi Solar team will be
continuing with the development of their existing global project
portfolio, as well as developing new renewable projects with the
RenuEn team under the RenuEn brand."
John Martin, Esq., CEO of Alquimi, states: "Don has put together
a tremendous business plan and a team of experienced executives,
and the business models between Alquimi and RenuEn make this
acquisition an ideal fit for both companies."
Rene Reyes, COO and Director of R&D for Alquimi, stated, "I
am excited to be working with Syed Jafri, Chief Technical Officer
for RenuEn. I am thrilled to bring my two current solar racking
patents and pending utility and design patents to Syed's
international engineering group. Having RenuEn as the Master
Licensee of the patents should allow us to further develop new
products and services with a global expansion and distribution in
mind under one common brand."
Alquimi brings a knowledgeable business, legal and financial
team with extensive experience in developing and financing
renewable energy projects. "Mr. Martin's many years as a real
estate development and contract attorney and Mr. Reyes' extensive
design, technology and project management experience will be a
cornerstone in our commercial and utility solar development plan,"
Wood added.
The financial terms of the acquisition of Alquimi Solar will be
disclosed in the 2013 First Quarter Financials. As part of the
acquisition, John Martin will be appointed to the Board of
Directors and actively involved with the RenuEn executive team.
"Alquimi is the first in a series of acquisitions that I expect to
be finalized in the very near future. We will be announcing the
additions to the RenuEn family of companies once the final
contracts are executed."
About Alquimi Solar Alquimi Solar, LLC.
(www.alquimisolar.com) is a development and finance company built
to facilitate the planning, construction, and sale of "turn-key"
photovoltaic solar projects through partnerships with leading
Engineering, Procurement, and Construction companies (EPCs)
bringing a value added, joint venture approach to solar development
in the US and select markets abroad.
About RenuEn Corporation RenuEn
Corporation is a Renewable Energy Development company. The company
focuses on Landfill Compressed Natural Gas capture, International
Renewable Power projects and the development of solar, geothermal
and other renewable energy strategies.
Safe Harbor Statement 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. These forward-looking statements are based on
the current plans and expectations of management and are subject to
a number of uncertainties and risks that could significantly affect
the company's current plans and expectations, as well as future
results of operations and financial condition. A more extensive
listing of risks and factors that may affect the company's business
prospects and cause actual results to differ materially from those
described in the forward-looking statements can be found in the
reports and other documents filed by the company with the
Securities and Exchange Commission. The company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contact and Inquiries for Investor Relations: Michael Irving
Paramount Advisors, LLC 407-878-5462 mike@parvise.com
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