Green Globe International, Inc. Updates Status of Brand Strategy
20 November 2010 - 12:30AM
Green Globe International, Inc. (Pink Sheets:GGII) today provided
an update regarding the company's plan to sell a controlling
interest in the Green Globe brand, allowing the public company to
more efficiently pursue emerging opportunities in the green space,
with a focus on renewable energy projects, within the United States
and eventually in other underserved regions overseas. Green Globe
International is currently an 88% majority owner of Green Globe
Limited, the UK corporation that owns the brand. The company
intends to maintain a minority interest in the brand after the
announced sale is closed.
"Our plans to move majority ownership of the brand back to Green
Globe Limited are moving forward, which will better position the
company to pursue renewable energy projects, especially those
eligible for equity-tax grants and other environmental credit
programs that can be monetized to help finance the projects," said
Managing Director and CEO Steven R. Peacock.
Green Globe International recently announced that it had
expanded its relationship with FiscallyGreen(SM) to take advantage
of grants and other credit programs and that are available to help
finance renewable energy products. One such program is under
the American Recovery and Reinvestment Tax Act of 2009, which is
designed to preserve and create jobs, promote economic recovery and
invest in infrastructure that will provide long-term economic
benefits. Grants may be funded up to 30% of the qualified cost
basis of the project for specified energy properties in lieu of tax
credits.
"These opportunities come at an ideal time, as the public
company was already seeking ways to increase revenues outside of
the certification sector," added Mr. Peacock, "The brand also has a
unique opportunity to deliver branded products and services
administered through licensees, affiliates and clients around the
world."
In furtherance of its current strategy to move control of the
brand back to the UK corporation, on November 17, 2010, Mr. Peacock
has been appointed as a Director of Green Globe Limited, the
company that owns the Green Globe brand and logo.
"I am pleased to accept this position and look forward to
working with the other directors of Green Globe Limited to help
complete the process of moving the operations of the brand back to
the UK corporation," Mr. Peacock added, "This will assist in
continuing to grow and service the Green Globe client base
internationally."
The Green Globe brand and program, which traces its roots back
to the United Nations Rio de Janeiro Earth Summit in 1992, where
182 Heads of State endorsed the Agenda 21 principles of Sustainable
Development, has primarily been used in the travel and tourism
industry but is now being expanded to include a growing number of
environmentally responsible businesses in a variety of market
sectors. The Green Globe brand is an ideal symbol for the world's
increasing awareness of environmental responsibility and response
to global climate change.
The company encourages all shareholders and others interested in
following the progress of the Green Globe brand to subscribe to
receive email alerts whenever new information is made
public. To subscribe, please visit
http://www.greenglobeint.com/stayconnected/email/.
About Green Globe International, Inc.
Green Globe International, Inc., through its 88% majority
ownership in Green Globe, Ltd., a UK corporation, is the worldwide
owner of the Green Globe brand, the recognized leader of
sustainability certification and benchmarking programs, carbon
footprint calculation and offset programs, and a broad range of
consulting services. Green Globe
International is an affiliate member of the United Nations World
Tourism Organization and the World Travel & Tourism Council
(WTTC), the business leaders' forum for the travel and tourism
industry, is a major shareholder of Green Globe
International. For more information on the company and its
programs, please visit www.greenglobeint.com or call
888-528-0883.
For information on Green Globe Certification, please visit
www.greenglobe.com. To see sustainable travel options, please
visit www.greenglobe.travel.
The Green Globe International, Inc. logo is available
athttp://www.globenewswire.com/newsroom/prs/?pkgid=6582
Safe Harbor Statement
This release contains forward-looking statements with respect to
the results of operations and business of Green Globe
International, Inc., which involves risks and uncertainties. The
Company's actual future results could materially differ from those
discussed. The Company intends that such statements about the
Company's future expectations, including future revenues and
earnings, and all other forward-looking statements be subject to
the "Safe Harbors" provision of the Private Securities Litigation
Reform Act of 1995.
CONTACT: Green Globe International, Inc.
Public Relations and Communications
888-528-0883
corporate@greenglobeint.com
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