SAN JOSE, California, March 26, 2020 /PRNewswire/ -- Pierre Corp., (OTCQB: PIRE) a California-based publicly traded company has acquired 100% of Fourth Wave Energy (FWE) (www.fourthwaveenergy.com) of Colorado in an all-stock transaction.
FWE is a geo/solar climate change solutions company founded and managed by a team of leading Colorado and Silicon Valley alternative energy engineers, executives, and financial professionals.
The company has developed and plans to market the Fourth Wave Energy System, a comprehensive geo-solar building system that allows home and business owners to achieve zero carbon emissions without any utility bills.
The company has applied for a name change to Fourth Wave Energy and for a new stock-trading symbol. FWE will be based in Denver with regional offices in San Jose, California and Dallas, Texas.
Included in the Fourth Wave Energy co-founders and leadership team are:
- Alex Parrillo is a long-time business advisor and climate activist with experience developing energy-saving infrastructure improvement projects.
- Brent Mosbarger is a leading alternative energy engineer who managed decarbonization projects for energy services companies across multiple states for decades.
- John Balbach is a pioneering climate solutions executive with a multi-decade career scaling companies, investment funds, and international foundations, facilitating financings of over $2 billion for clean energy and climate solutions companies and projects; and
- Babu Jain is a noted leading Silicon Valley solar engineer who has launched several successful renewable energy companies.
The Fourth Wave team also includes financial executives and advisors with extensive Wall Street and capital markets experience taking companies from startup to NASDAQ and NYSE listings.
FWE will initially focus on the growing net-zero housing market by developing zero energy single and multi-family homes and sustainable communities in partnership with local builders in multiple markets.
500,000 zero energy ready (ZER) homes are expected to be built in the U.S. by 2028, up 15 times the approximately 30,000 that exist today.
"Based on the growing urgency of the climate crisis, it's imperative that the world rapidly decarbonize the built environment. Buildings account for nearly 40% of carbon emissions, with 62% of their electricity being generated from fossil fuels. Net zero energy buildings must be an essential part of the green movement and that is where we specialize," stated Mr. Joe Isaacs, Pierre's Chief Executive Officer.
"Fourth Wave Energy plans to deliver the clean zero energy buildings our future demands by applying rigorous construction standards to key systems and technologies. Our homes and offices will be powered, heated, and cooled entirely by the sun and earth."
"FWE has assembled a first-rate team of some of the most respected names in the solar and alternative energy industry. We plan to address the climate crisis while building a valuable publicly financed clean tech company," concluded Mr. Isaacs,
The company is planning to leverage its technology and achieve commercial scalability providing zero carbon homes and warehouses.
Greening the building industry is an exciting part of the clean energy sector with massive market potential. Fourth Wave management believes they have a huge opportunity to accelerate the transition to zero carbon buildings.
The Fourth Wave Energy System includes an array of advanced technologies in a fully integrated system that includes:
- Solar photovoltaics
- Battery storage
- Geothermal ground-source heating and cooling
- Highly insulated walls and windows
- Energy recovery ventilation
- Air filtration and air quality monitoring
- Heat pumps
- DC LED lighting
- Electric vehicle charging stations
All components are monitored by a sophisticated Energy Management System (EMS).
The company has retained the Silicon Valley patent/IP law firm of Mahamedi IP Law, LLC and is preparing to file trademark and researching patent protections on the FWE name and system both in the US and internationally.
The PIRE stock trades on the OTCQB market and management plans to move to the NASDAQ market if and when it meets the qualifications.
FWE plans to build its first pilot projects in Denver, San Jose and Dallas, and expects to have systems under construction by mid-2020 with first commercial sales by Q-4, 2020. The company plans to expand its marketing efforts to additional cities by 2021.
SOURCE Pierre Corp.