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Green States Energy Shareholders Approve Merger With LightBeam Electric Company
Hamilton, Bermuda – 16 June, 2015 – In a filing with the Bermuda Stock Exchange (“BSX”), Green States Energy, Inc. (the “Company”; Ticker: GSE.BH), announced shareholder approval of the merger with LightBeam Electric Company. The filing states:
NEW JERSEY, June 16th, 2015 /PRNewswire/ -- Green States Energy, Inc. (BH: GSE), a leading clean energy independent power producer, today announced that the shareholders of GSE have approved a merger with LightBeam Electric Company, Inc. (“LightBeam”). The merger is contingent on LightBeam completing an initial public offering.
Green States Energy CEO Stephen Clevett said, “This transformational combination will leverage the complementary strengths of both companies and help create an organization with the size and breadth to efficiently deliver both economies of scale and capital efficiencies to a fragmented business sector. As a top tier global owner of renewable energy assets GSE, as part of LightBeam Electric Company, will be strongly positioned to turn the challenges presented by the current US renewable project development business into new opportunities”.
About Green States Energy, Inc.
Headquartered in Short Hills, New Jersey, Green States Energy, Inc. is an Independent Power Producer (IPP) that acquires, develops, and operates clean electric generating plants the Americas and Europe. The Company currently owns 12 operating solar PV power plants in the U.S. with a total capacity of more than 18MW.
About LightBeam Electric Company
Based in Sausalito, California LightBeam is a growth and yield oriented company formed to acquire and manage high quality clean and renewable electric generation projects with stable, long-term cash flow. Our primary business objective is to pay our stockholders a consistent and growing cash dividend that is sustainable on a long-term basis.
Certain statements in this press release are “forward-looking statements" within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including changes from anticipated levels of sales, future national or regional economic and competitive conditions, changes in relationships with customers, access to capital, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, the Company’s ability to complete additional acquisitions and other factors. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this presentation.
Company Contact:
Green States Energy, Inc.
Joseph Duey
Chief Financial Officer
(704) 519-6723
http://www.GreenStatesEnergy.com
SOURCE Green States Energy, Inc.