(Vancouver, BC, August 27, 2010) GreenAngel Energy Corp. (“GreenAngel”) (TSX-V: GAE) investee company, Rapid Electric Vehicles (“REV”) has received another contract for its revolutionary bi-directional charging technology for micro-grids. Through a contract with Honeywell, REV will participate in the U.S. Army Tank Automotive Research Development Engineering Center (TARDEC) Micro-Grid project at Wheeler Air Base, Hawaii.
The project involves the design, building and demonstration of a Micro-Grid with plug-in electric vehicles to determine the technical readiness of Micro-Grids to accept power from various inputs while charging the selected vehicles and provide output power to various applications in both alternating and direct current systems.
The contract represents important revenue to REV, who expects current year revenues to increase by 400% over last year.
Comments REV CEO Jay Giraud,” This is an important milestone for REV. The US Military is one of many federal partners we have been pursuing that manage the largest fleets in the world. With these vehicles in operation we can build case studies that demonstrate the viability and ROI for such game-changing technologies.”
Michael Volker, Chairman of GreenAngel and REV board member comments, “We couldn’t be more pleased with the progress REV has made since we got involved in late 2009. With the addition of key partners such as Honeywell, and a ready demonstration platform like the US Army, the potential of this first project to expand into a much larger deployment is exciting.”
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.
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ON BEHALF OF THE BOARD
Bob de Wit
CEO and Director
Disclaimer for Forward-Looking Information
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