(Vancouver, BC, January 27, 2010) GreenAngel Energy (GreenAngel) (TSX-V: GAE) is pleased to report that three of its investee companies, Delaware Power Systems, Light-Based Technologies, and Rapid Electric Vehicles Inc. were recognized as emerging “Ready-to-Rocket” companies in the clean energy sector.
Each year, for the past eight years, the Vancouver based technology consulting firm, Rocket Builders (www.rocketbuilders.com), has produced its “Ready-to-Rocket” list of 25 companies in B.C. with the greatest revenue potential and investment returns. The companies on this year’s list boast 2009 growth rates averaging 75% as reported in today’s edition of the Vancouver Sun.
The firm also identified emerging Ready-to-Rocket companies in four industry sectors. In the Clean Tech sector, it has identified seven companies. This list includes three GreenAngel companies.
Rocket Builders annual presentation noted that these companies, none of which are publicly traded, have received their investment capital mainly from wealthy private accredited investors, also commonly referred to as angel investors. As such, the general public and non-accredited investors are precluded from investing in these growing companies. GreenAngel, however, in its role as an investment and management company focused on the clean tech sector, does provide investors with an opportunity to invest in these companies indirectly since GreenAngel itself has invested in, and raised capital for, these ventures.
GreenAngel’s mission is to provide returns to its investors by giving them access to early-stage companies at the formative stages, developing them and achieving liquidity through acquisitions, mergers or IPOs.
Delaware Power Systems has produced the world’s first universal battery module platform for electric vehicles and has recently entered into a battery supply contract for two electric vehicle prototypes and three battery systems with First Automobile Works, the largest Chinese auto manufacturer. Delaware has also recently had its battery system installed on a concept electric vehicle of Volkswagen A.G. (www.delawarepowersystems.com)
Light-Based Technologies (“LBT”) has developed a patent portfolio in the LED (Light Emitting Diode) control sector. LBT recently released its new “Triac” dimming solution for LED lighting fixtures. This allows LBT to make available cost-efficient, user-friendly LED lighting systems to commercial and residential markets as once-standard incandescent lighting is phased out. (www.lightbasedtechnologies.com)
Rapid Electric Vehicles (REV) Inc has developed and is commercializing REVPack, a system that converts existing conventional internal combustion automobiles into zero-emission, electric vehicles. Its initial market thrust is the electrification of light pickup trucks typically used in commercial fleet operations. (www.rapidelectricvehicles.com)
The announcement by Rocket Builders attests to the progress being made towards commercialization by these companies and move GreenAngel forward in realizing the potential of its investments.
About GreenAngel Energy
GreenAngel Energy Corp. is a green energy technology company. 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 provides business and advisory services to help ensure these companies achieve commercial success. The firms include Delaware Power Systems, Light-Based Technologies, Habitat Enterprises, Rapid Electric Vehicles, DPoint Technologies, and Paradigm Environmental Technologies. For more information, please visit www.greenangelenergy.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
ON BEHALF OF THE BOARD
President, CEO and Director
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.
For further information, please contact
Chief Executive Officer
7300-515 West Hastings Street
Vancouver, BC V6B 5K3