Vancouver, BC, June 11, 2012 — GreenAngel Energy Corp (“GreenAngel”) (TSX-V: GAE) reports that investee company dPoint Technologies Inc. (www.dpoint.ca) has secured an investment of 3.5 million dollars from a strategic lead investor.
DPoint develops novel polymer membranes and energy recovery devices that significantly improve the energy-efficiency of Heating, Ventilating and Air-Conditioning (“HVAC”) systems used in buildings. The proceeds will be used primarily for expanding sales and R&D activities, as well as providing additional working capital.
GreenAngel currently holds 448,454 shares in dPoint. The financing was completed at a higher valuation than previous financings and continues to grow the value of GreenAngel’s holdings in dPoint.
James Dean, CEO of dPoint comments “This financing gives recognition to our early market wins and will help fuel the next generation of innovation that will extend the market advantage our technology”.
Michael Volker, Chairman of GreenAngel comments, “dPoint continues to grow steadily and we believe this strategic investment represents another important milestone as they commercialize their products into the market and realizes value for GreenAngel investors.”
About GreenAngel Energy
GreenAngel Energy Corp. is the first publicly traded company that invests solely in emerging private green technology companies. We provide an avenue for public investors to gain access to a portfolio of the most promising angel-stage investments across a spectrum of green technology sectors. Our focus is commercializing new technologies that produce renewable energy, improve energy efficiency, or use renewable energy resources such as water, wind and solar. We also work with companies that deploy or manage technologies and processes that reduce greenhouse gas (GHG) emissions. In addition to providing strategic capital to investee companies, GreenAngel also mentors and advises investees to help ensure these companies achieve commercial success. The firms include Delaware Power Systems, Mazza Innovation, Light-Based Technologies, Habitat Carbon Assets, Rapid Electric Vehicles, DPoint Technologies, and Paradigm Environmental Technologies.
About dPoint Technologies
DPoint develops and supplies heat and humidity exchangers for Fuel Cell Systems and Energy Recovery Ventilators (ERV) used in HVAC units. Humidifiers are critical to fuel cell performance and reliability, and except for the stack, are currently one of the most expensive components in the fuel cell engine. Prior to the adaptation of DPoint’s heat and humidity exchanger technology, ERV cores were not meeting building industry targets for energy efficiency and cost-savings. DPoint’s patented technology is designed to be easily manufactured using low-cost materials. (www.dpoint.ca)
About Tower Labs
TowerLabs@MaRS is a non-profit organization dedicated to accelerating the adoption of green building systems and technologies through pilot and demonstration projects. Our goal is to accelerate the adoption of products and technologies that will reduce the environmental impact of buildings while helping green businesses find the customers they need for rapid and sustained growth.
ON BEHALF OF THE BOARD
Bob de Wit
CEO and Director
For further information, contact:
Bob de Wit, CEO
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s listing of its common shares on the TSX Venture Exchange. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.