NEW YORK, Aug. 20, 2014 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that 808 Renewable Energy Corp. (OTCQX: RNWR), an owner and operator of on-site cogeneration systems, has qualified to trade on OTCQX®, the best marketplace.
808 Renewable Energy begins trading today on OTCQX under the symbol "RNWR." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"808 Renewable Energy, through its focus on owning and operating co-generation plants throughout California and the Western U.S., is helping America achieve green energy solutions that can reduce our nation's dependence on foreign oil," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "We are excited to welcome this innovative American company to the OTCQX marketplace and wish them success and growth in the public markets."
Patrick Carter, CEO of 808 Renewable Energy, added, "We at 808 Renewable Energy Corporation are thrilled about our first trading day on the OTCQX, August 20th. And we are extremely appreciative of Merriman Capital's efforts, as advisor and sponsor of this initiative. We feel now, more than ever, that America needs to focus on becoming an independent energy user and needs to wean ourselves from our dependence on foreign oil. Our investors now have an opportunity to have some liquidity and our exposure to the stock market will allow even more of the public to have an opportunity to participate in our growth."
Merriman Capital, Inc. serves as 808 Renewable Energy's Designated Advisor for Disclosure ("DAD") on OTCQX, responsible for providing professional guidance on OTCQX requirements.
808 Renewable Energy owns and operates on-site cogeneration systems that produce energy in the form of electricity, heat, hot water and chilled water under long-term contracts with its commercial, institutional and light industrial customers. Its business is to own the equipment that is located at customers' facilities and to sell the energy produced by these systems to the customers on a long-term contractual basis.
To date, the company's focus has been on acquiring existing combined heat and power ("CHP") plants. However, its objective is to grow revenue by pursuing the following areas: continuing acquisition of new or existing CHP or other renewable energy projects, providing maintenance service, monitoring, and operations support to existing CHP plants not owned by the company, and sales of CHP and other renewable energy plants to interested third parties.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace; OTCQB®, The Venture Marketplace; and OTC Pink®, The Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
SOURCE OTC Markets Group Inc.