Green Energy Renewable Solutions, Inc. merges with Cirque Energy II, LLC
Friday, May 17, 2013
Green Energy Renewable Solutions, Inc. (OTCQB: EWRL) (“Green Energy”) announced today that it has merged with Cirque Energy II, LLC, (“Cirque Energy” or “Cirque”) a privately-owned renewable energy development company based in Michigan.
Cirque’s executive management team, consisting of Tom Coté, Roger Silverthorn and Richard Fosgitt will become officers of Green Energy. Mr. Silverthorn and Mr. Coté will also join the company’s Board of Directors. Frank O’Donnell will continue as Chairman of the Board and Joe DuRant and Dan Garmin will continue as Directors.
Green Energy intends to change its name to Cirque Energy, Inc. and intends to apply for a new trading symbol. The company will continue to trade under its present symbol, EWRL, until a new trading symbol is assigned. The new Green Energy management team is comprised of Frank O’Donnell, Chairman of the Board; Joseph DuRant, Chief Executive Officer; Roger Silverthorn, Chief Financial Officer; Tom Coté, Chief Operating Officer; and Richard Fosgitt, Design and Development Officer. Background information on the new management team is included as an appendix to this release.
Cirque Energy, based in Ithaca, Michigan, has specific expertise and extensive experience in the development, design, financing, construction, and operation of landfill operations, renewable energy and traditional distributed generation power projects. The addition of the Cirque management team provides Green Energy with essential execution capabilities that will enable the company to successfully transition from planning to operations in the near term. Cirque also brings project opportunities that are expected to rapidly mature and financing resources that will facilitate securing contracts and implementation.
Joe DuRant, Chief Executive Officer of Green Energy, stated, “Our merger with Cirque came together as a result of our shared vision to create a unique energy development company that provides end-to-end expertise in the development, implementation and operation of renewable energy projects that conserve natural resources and minimize negative environmental impact. Cirque’s senior management team brings skills sets and expertise that are unparalled in the energy development industry and our combined strengths will enable Green Energy to successfully transition from a development stage company to a full operating company with the capability to execute and finance renewable energy projects. Cirque Energy has developed a diversified portfolio of potential renewable energy projects that are ready for implementation and which carry with them above-market return on investment.”
Tom Coté, President and Chief Executive Officer of Cirque Energy LLC, commented, “We are truly excited to be joining forces with Green Energy to achieve our common goals by challenging the mind-sets and principles of the traditional thought processes relating to waste, waste management, and creating energy from alternative fuels. By leveraging Green Energy’s expertise in landfill operations and deploying processes and technologies that focus on converting materials typically considered waste into a fuel to create renewable energy, our environmentally sustainable projects will deliver positive results now and for the foreseeable future.”
Source: Business Wire