ST. CLOUD, Fla., Oct. 12, 2011 /PRNewswire/ -- Green Bridge
Industries, Inc. (OTCPK: GRBG) is pleased to announce that the
Company is entering the multi-billion dollar Renewable Energy
Market by completing the acquisition of Team Energy, Inc., a multi
disciplined Energy Service Company (ESCO) and seasoned developer of
Renewable Energy projects. During the 1st Quarter of 2011,
Green Bridge acquired a ten percent interest in Team Energy along
with the option to purchase the remaining equity stake. As part of
the acquisition agreement, Henry
Martin, COO and CFO for Team Energy, Inc., will be appointed
to the Company's Board of Directors and will accept the position of
COO for Green Bridge Industries, Inc.
Team Energy is a Developer of Supply and Demand Side Power
projects, whose Core Management Team has over 75 years of
successful power project development, design/build, ownership,
operation and finance of power facilities (public and private) in
the US and Canada. Team Energy is
a member of the UCF (University of Central
Florida) Business Incubation Program, whose goal is to help
community partners to facilitate smarter, faster startup and growth
of emerging companies in order to help them become financially
successful, high growth companies in the community.
"We are excited about the acquisition of Team Energy, Inc., and
the Green Industry expertise it brings to Green Bridge," stated
Don Wood, CEO of Green Bridge
Industries, Inc. "We feel Team Energy's business model will help us
expand and grow Green Bridge in a new and more profitable direction
by introducing its shareholders into the booming renewable energy
market."
The management of Team Energy recently won the bid with the
City of St. Cloud, Florida to
develop a landfill gas collection system on the landfill located
within the city limits. Under the terms of the contract Team Energy
will extract the methane from the landfill, clean, compress and
sell the finished gas product as CNG (compressed natural gas) for
use in vehicles. A recent study shows that in its first year of
operation the landfill will produce 800,000 to 900,000 GGE's
(gasoline gallon equivalent), with an expected production life of
approximately ten years. During this span revenues are expected to
exceed $15,000,000. The City of St. Cloud, which has been flaring
(burning) the gas as required by law, will also share in the
success of Team Energy by receiving royalties for the life of the
landfill.
"Our plans are to continue approaching similar municipalities
and cities with these types of landfill projects," stated
Henry Martin, COO of Green Bridge
Industries and Team Energy, Inc. "It not only makes economic sense
for the cities, it's also a positive statement to the citizens of
their community about how committed they are to sound environmental
practices."
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: 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
SOURCE Green Bridge Industries, Inc.