Hybrid Energy Anticipates Assets and Income Increase: NY Solar Energy Act to Add 22,000 Jobs and $20 Billion
22 June 2010 - 10:26AM
Marketwired
Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) anticipates an
immediate increase in the market value and projected revenues of
its recently reported Technology Transfer Agreement and Joint
Development Agreement with KS IP Holdings, LLC, a private company
specializing in clean energy technologies that added $18,000,000 to
the Company's balance and increased its assets a further 360%.
In addition to the Technology Transfer portion of the Agreement,
the income producing Joint Development portion of the Agreement
affords KS-IPH an option to acquire Development and Distribution
Rights to certain technologies. The Company now expects
finalization of the specific terms of this income-generating
Product Development and Distribution Agreement to improve
significantly. Further updates will be provided as the Agreements
are finalized.
Proponents of a Solar-Energy Act before the New York legislature
say it would result in 22,000 new jobs and about $20 billion in
economic output over the next 15 years.
Legislative action is near on a measure that, if passed, would
put New York on a path to becoming one of the country's leading
solar states.
The New York Solar Industry Development and Jobs Act would
require utilities and public power authorities to gradually include
more solar electricity in their energy mix over the next 15
years.
The measure would raise statewide solar production capacity to
at least 5,000 megawatts, from about 34 megawatts at the end of
2009. The 5,000-mw figure is almost triple the existing grid-tied
solar-electric capacity of the entire United States, according to
the national Solar Energy Industries Association, based in
Washington, D.C.
The measure, consisting of identical bills in the Assembly and
Senate, is backed by the solar industry and by several
environmental and conservation groups.
The Company recently announced its scheduled release of its
year-end financials reflecting an 1800% book value increase in
Assets.
The Solar Energy Acquisition and Development Project is the
first major acquisition and development project under the Company's
New Energy Initiative, which calls for the aggressive investment
in, acquisition of and development of nascent 'New Energy'
technologies, Intellectual Property assets and operations in the
Clean Energy, Energy Smart Technologies and Carbon Capture &
Storage sectors of the Energy Sector. The Company recently
announced Phase II of its growth and acquisition strategy; the
diversification and expansion of its current asset holdings with
the launch of the 'New Energy Initiative.' The Company has
successfully established a strong and growing asset based of clean
energy producing assets with strong recurring profits and
cash-flows. The company will continue its acquisitions in this
sector and expand the scope of its acquisitions.
"The Solar Energy industry will return to high growth in 2010
and also over the next 5 years. Even in the slowest growth
scenario, the global market will be 2.5 times its current size by
2014. Under the Production Led scenario, the fastest growing
forecast, annual industry revenues approach $100 billion by 2014,"
according to NPD Group which publishes The Leading Annual World
Solar PV Industry Report.
The company is assessing the acquisition of several new assets,
operations and technologies and encourages further technology
submittals and developmental joint ventures through the Merger
& Acquisition portal at www.HybridEnergyHoldings.com
About Hybrid Energy Holdings Hybrid Energy
Holdings (HEH) acquires and operates profitable energy companies
with strong historical cash-flow and sustainable profitability. The
Company acquires sector-specific technology and assets as part of
its Phase II Clean Energy Initiative. HEH's prior foundation
building acquisitions focused primarily on traditional and proven
fuel production. The company now turns its growth strategy to
adding the latest in energy conservation and power co-generation
technologies. HEH may acquire nascent energy technology or rights
as portfolio enhancing assets. HEH's primary business strategy is
the acquisition of diverse, profitable energy related assets that
provide synergistic profits and revenue enhancements across all
portfolio companies.
HEH believes its combination of profitability and mitigated-risk
funding structures provides long-term shareholder equity
appreciation.
The company maintains its web site at:
www.HybridEnergyHoldings.com
Safe-Harbor Statement This release
contains statements or projections regarding future performance
that are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those projected as a result of certain risks and
uncertainties. The company's filings contain various RISK FACTORS
(and are incorporated on the Company's website "Investors" section
by reference) and should be read before any investment
decision.
Contact: Investor Relations Tel: +1 (775) 636-7602 Fax: +1 (775)
996-7330 info@HybridEnergyHoldings.com
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