CGE Energy and PK Housing Sign Joint Venture LOI to Install Energy Projects at 65 Properties

BRIGHTON, Mich., Jan. 7, 2015 /PRNewswire/ -- CGE Energy ("CGE") today announced that the energy services company received a signed letter of intent from PK Housing and Management ("PK") contracting CGE to provide integrated energy projects at PK's 65 multi-family properties.

Under this LOI, mutually beneficial Power Purchase Agreements (PPAs) are being developed to bring renewable energy technologies and energy efficiency equipment to PK's properties. PK's only obligation is purchasing the power from CGE at the same rate they currently pay their local utility. The companies are entering into a joint venture on these projects with PK receiving a percentage of ownership.

"Just as we are dedicated to taking the stress out of moving for our new residents, what CGE Energy is offering us is a stress-free way to install and maintain green energy measures," said Chris Potterpin, Vice President of Development for PK. "With this joint venture, we are getting a return on CGE's investment in our future sustainability."

"We are electrified to have the opportunity to improve the living environments of these multi-family properties. The scale of the project is substantial and we can't wait to get started," said CGE President Bryan Zaplitny. "This joint venture partnership is a unique way for PK Housing to immediately reduce their carbon footprint while receiving a long-term return on their decision to purchase green power. The return is two-fold."

Mr. Zaplitny went on to say the initial project scope will include upgrading the 65 facility's common areas and exterior lights to Cree LED as well as installing SolarWorld solar PV on the roof space and carports.

Contact: Paul Schneider 248-446-1344, [email protected].

About CGE Energy
CGE Energy is an energy solutions provider headquartered in Brighton, Michigan. For more than 20 years, the company has provided energy optimization services and is now offering Power Purchase Agreements. Today the company serves customers in the U.S. and abroad, using energy efficient technologies that include Cree LED lighting and wind and solar generation. CGE is merging with publicly traded McKenzie Bay International (MKBY:OTCPink) on January 31st, 2015. http://www.cgeenergy.com

About PK Housing and Management
PK Housing is headquartered in Okemos, Michigan. They are a family-owned, full-service real estate development company with a presence in Michigan, California, Indiana and Texas. http://www.pkhousing.com

Certain statements made in this release constitute forward-looking statements and do not guarantee future performance. Actual results or developments may differ materially from the projections in the forward-looking statements.

SOURCE CGE Energy

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