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.
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