SAN JOSE, California, May 8, 2020 /PRNewswire/ -- Fourth Wave Energy, Inc., (OTCQB: PIRE) a San Jose based climate solutions technology company has announced it has entered into an agreement whereby it has the option to acquire 19 acres of residential land from GEOS Neighborhood (www.discovergeos.com), an Arvada Colorado based net zero carbon community developer. If the Option is exercised, Fourth Wave will continue to work with GEOS to develop the property.
The founder of GEOS is Norbert Klebl, a German trained engineer, award winning green housing pioneer and builder of net zero carbon homes. Mr. Klebl has become a FWE shareholder and will join the advisory board. Mr. Klebl has become a leading face of the zero carbon movement in residential building. In addition to his engineering background he received his MBA from Columbia and was a partner with McKinsey & Company specializing in alternative energy.
Fourth Wave plans for the construction of net zero carbon energy independent homes and multi-unit condo rental units at the Arvada project with a combined sales price of over $120 million. The project has built and sold the first 25 homes and has proved net zero utility bills.
The GEOS community has won numerous green/zero carbon housing awards and is recognized as an environmentally advanced sustainable home community. The GEOS community will serve as the prototype for future developments for FWE. FWE plans to develop similar communities of advanced net zero carbon homes patterned after the GEOS development in Dallas, Texas and San Jose, California.
FWE is a startup clean tech company formed to take a leading role in the fast growing 'green revolution' of the transition from carbon based energy to solar and other clean power sources. FWE plans to be active in green community development, renewable energy research and development of net zero carbon commercial developments.
"We believe the way existing buildings are being powered with carbon based energy is obsolete. We are developing the systems that will lead the de-carbonization movement," stated Joseph Isaacs, CEO of FWE.
The FWE advisory team includes leading Silicon Valley and Colorado based solar and alternative energy engineers, executives and financial professionals with extensive Wall Street and capital markets experience.
The new home market for net zero carbon homes is estimated at over $40 billion annually.
The exercise of the Option is subject to a number of conditions, including the negotiation of a definitive purchase agreement for the property.
Fourth Wave Energy, Inc.
SOURCE Fourth Wave Energy, Inc.