Hybrid Energy's Core Gas Holdings Value Continue to Strengthen: US Mayors Urge Congress to Pass NATGAS Act
06 July 2010 - 10:30PM
Marketwired
Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) anticipates a
significant increase in its Natural Gas production revenue and
natural gas reserves' market value as US Mayors called on Congress
and the White House to pass the "New Alternative to Give Americans
Solutions" (NATGAS) Act -- a bill which establishes massive tax
credits and federal incentives for natural gas vehicles.
The Mayors from various cities and towns across the United
States, gathered at the 78th annual U.S. Conference of Mayors
meeting in Oklahoma City this past week, also called for tax relief
for vehicle purchasers and manufacturers, the group is also urging
the Feds to renew another bill which would continue a $0.50/gallon
tax credit for compressed or liquid natural gas fuel as well as
calling for expanded federal research into natural gas engines.
American Clean Skies Foundation CEO Gregory Staple says, "This
resolution proves that mayors are keenly aware of the role natural
gas can play in decarbonizing their cities and spurring the local
economy. The low-cost opportunities to run municipal fleets on
natural gas would result in budget savings and cleaner air,
especially compared to diesel."
The Company recently announced its production levels had
increased 864% year-over-year; and this is reflected in the Revenue
and Profit results. Revenues from the Company's Gas & Oil
production holdings, up 864% year over year, are expected to
continue to grow as the Company brings additional production on
line, implements further production increase and efficiency
measures and acquires further production properties.
These acquisitions were part of the Company's foundation
building Phase I of the Company's strategic plan that called for
traditional and proven fuel production acquisitions to build the
Company's revenue and asset base. Based on the strength of its
asset base and growing revenue stream, the Company recently
launched Phase II of its growth strategy and began its transition
to alternative and renewable energy and technology revenue
models.
The company's New Energy Initiative calls for the aggressive
investment in, and acquisition 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 has successfully established a strong and growing
asset base of clean energy producing assets with strong recurring
profits and cash-flows. The company has recently announced
important clean and renewable energy assets as part of its
transition to a sustainable and renewable energy revenue model. 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 has transitioned its growth strategy to
adding the latest in energy conservation, reclamation, 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
Hybrid Energy (CE) (USOTC:HYBE)
Historical Stock Chart
From May 2024 to Jun 2024
Hybrid Energy (CE) (USOTC:HYBE)
Historical Stock Chart
From Jun 2023 to Jun 2024