Alternative Energy Partners (AEGY) Announces Planned Acquisition of Energy Management Firm Shovon, LLC
Jun 7, 2010 7:45:00 AM
FORT LAUDERDALE, FLORIDA -- (MARKET WIRE) -- 06/07/10 -- Alternative Energy Partners, Inc. (OTCBB: AEGY) is pleased to announce that it has signed a definitive agreement to acquire energy management company Shovon, LLC ("Shovon").
Alternative Energy Partners is focused on sourcing, marketing and distributing renewable alternative energy solutions, including on-site solar thermal energy production.
Shovon has developed Web Enabled Internet ready Remote Access Relay Modules and a home energy management controller using Smart Labs INSTEON technology. The company's products enable remote monitoring and control, via PC or cell phone, of high-power electrical devices in commercial offices, industrial plants, hospitals, schools and residences from anywhere in the world. Shovon's technology allows optimized, controlled energy consumption down to the appliance level, resulting in reduced costs for property owners and managers.
CEO of Shovon Mr. Jules Karim says, "The price of energy is often beyond the control of the consumer, but they can control and monitor how efficiently it is being used. Shovon's system is designed to help consumers better manage their energy usage and thereby lower energy expenditures. We look forward to joining AEGY and contributing to their effort to provide consumers with more efficient, cost-effective energy alternatives."
With the acquisition of Shovon, Alternative Energy Partners advances a further step towards its goal of offering a full portfolio of high-performance clean-energy production solutions for commercial offices, industrial plants, hospitals, schools, homes and more. The AEGY portfolio currently includes Sunarias?, an on-site producer of solar thermal energy. Shovon's strategy and growth is overseen by a highly experienced and diversified leadership. Its executive team includes Gary DeMel, a 30 year veteran of the high-tech industry including ATI Technologies/AMD and Intel®, where he was Senior VP Worldwide Sales.
Alternative Energy Partners CEO Gary Reed says, "The addition of Shovon to Alternative Energy Partners' portfolio allows us to add important new dimensions to our offerings. For example, the sophisticated control systems that set Sunarias apart from competitors can be enhanced using the outstanding products Shovon offers. Shovon's executives' have expertise and insight into the energy controls market that will inform our innovations and efforts to offer our target consumers the most compelling energy options, inclusive of full command of energy use and a flexibility the market hasn't offered them before."
About Alternative Energy Partners, Inc.
Alternative Energy Partners, Inc. ("AEGY"), founded in 2008, is focused on sourcing, marketing and distributing renewable alternative energy products. Alternative Energy Partners offers innovative, high-performance systems and services that reduce energy costs and provide superior work and living environments for clients and consumers. Recently, Alternative Energy Partners acquired Sunarias?, an on-site producer of solar thermal energy. Sunarias' energy-efficient products allow businesses, organizations and individuals to not only satisfy government energy reduction mandates, but also hedge against rising utility costs. Currently based in Fort Lauderdale, Florida, Alternative Energy Partners is publically traded on the over-the-counter bulletin boards (OTCBB) under the symbol AEGY.
FORWARD LOOKING STATEMENT
This announcement is not an offer to sell any Alternative Energy Partners ("AEGY) owned company securities. Offers for any given security are made only through applicable offering circulars and related supplements filed with the SEC pursuant to Section 13(a), 13(c) or 14 of the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of HOTI may contain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements area identified by words such as "intends", "anticipates", "believes", "expects", and "hopes" and includes, without limitations, statements regarding AEGY's plan of business operations, product research and development activities, anticipated revenues and expenses and potential contractual arrangements and obligations. Forward looking statements speak only as of the date of the document/oral statement in which it was made. In making any such statements, the person making them believes that its expectations are based on reasonable assumptions. However, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected or anticipated. These forward looking statements are subject to numerous risks and uncertainties. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements and are mostly out of the company's control. Among these are: general economic conditions, receipt of additional working capital, and acceptability of the company's products in the marketplace as well as other factors set forth in the company's SEC filings. Thus, AEGY disclaims any intent or obligation to publicly update these forward looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Alternative Energy Partners, Inc.
Christina Bishar
(866) 963-2417 x 807
