HENDERSON, NV--(Marketwire - January 31, 2013) - Blue Earth, Inc. (OTCQB: BBLU) a renewable energy and energy efficiency services company, announced today that it signed a letter agreement to acquire a company with innovative, proprietary intelligent digital battery technology (the "IP"). The IP has developed what it believes to be the only "environmentally friendly," easy to install, flex-shaped sustainable battery backup technology available today for a wide array of vertical markets.
The global battery backup system ("BBS") or uninterruptible power supply ("UPS") market is estimated to be over $7 billion and is dominated by lead-acid products that are performance challenged, time consuming to install, have a relatively short life cycle, and are adversly impacted by environmental issues.
The IP has broad applications for market verticals within Blue Earth's core business area. The IP is expected to expand Blue Earth's business model into a number of new market verticals. Blue Earth anticipates using the technology through the sale of multiple energy efficiency programs with gross profits in excess of 50% and through multi-year service contracts.
The parties to the letter agreement and the purchase terms will be disclosed when the definitive agreement is completed and a final closing occurs. The purchase price is for restricted shares of Blue Earth Inc. common stock and a payment of notes and royalties out of the net profit of the IP company being acquired.
"We are delighted with this acquistion, which will enable us to introduce proprietary high margin products and finance programs to a number of market verticals," stated Johnny R. Thomas, CEO of Blue Earth, Inc. "In addition, the intelligent digital batteries do not have any of the hazardous outgassing risks of lead-acid or flammable and explosive risks of lithium ion batteries that have recently been the subject of numerous news stories."
BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency and renewable energy sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and substantially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit www.blueearthinc.com.
Forward Looking Statements
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