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| KGET Announces Major Acquistion Big News Out Now |
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 Hot Stock to Watch |
Company: Kleangas Energy Technologies, Inc (Pink Sheets: KGET)
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Last:
Price: 0.0035
Change (%): + 0.00 (0.00)
Volume: 18,070,068 |
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This is huge news and it seems KGET is all poised to receive BIG attention!
Kleangas Energy Technologies, Inc. Acquires A ProfitablePellet Production And Electricity Generation Plant
TAMPA, FL, United States / ACCESSWIRE / Aug 7, 2014 / Kleangas Energy Technologies, Inc. (OTC PINK: KGET) is pleased to announce that It has signed a definitive Stock Purchase Agreement acquiring an expansive Clean Energy Company that has a production capacity of 15,000 MT (Metric Tons) of Pellets per year and generates approximately 2.4 MW (Mega Watts) of electricity. This acquisition brings into Kleangas a company generating over 1,500,000 dollars in gross revenue and an EBITDA of more than $600,000. Both operations are green environmentally friendly operations generated out of this one facility.
The plant burns waste landfill gases to create electricity, which in turn is sold into the grid and purchased by major utilities. This electricity is purchased by the Utilities at a premium to fossil fuel produced electricity because it is clean/renewable energy. Each state is mandated to reach certain levels of clean energy within the next few years. Most states are not close to reaching these mandated levels so they in turn are will to pay a hefty premium for this clean energy.
This facility also uses the heat generated by the burning of the landfill gas to create wood pellets. Wood pellets are used as an alternative to coal as a fuel, which is burned to create electricity. This 20,000 sq. ft. facility sits on 5 acres of land. The current facility can be doubled in size. Enough Pellet lines can be added in to bring monthly pellet production to more than 5,000 metric tons per month. An additional facility can be cost effectively added to the land allowing for future pellet production to easy exceed more than 10,000 metric tons a month.
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