(PublicWire) — Green Energy Live Inc. (OTCBB: GELV) has been making deeper inroads into the energy market by entering into the final stages of acquiring 100% of stock in Peck Electric Inc., a Vermont based provider of electrical services. The growing green energy company that develops sustainable biomass to energy conversion solutions for the U.S. livestock industry has executed a Letter of Intent and is in the process of doing final due diligence.
Peck, which has been in business since 1972 and generated $6 million in 2009, meets all GELV’s acquisition requirements which include strong and consistent revenue, longstanding relationships with key customers and opportunities to expand with clean energy products and services.
The Letter of Intent which was updated on February 23rd, 2010 and upon completion Peck will become a wholly owned subsidiary. GELV is busy with final due diligence and will commence the required financial audits in March 2010. Green Energy Live and Peck Electric will determine a closing date for this transaction in the near future.
“In spite of extremely tough economic conditions Peck maintained its revenue levels last year, generating $6 million in gross revenue in 2009 as it did in 2008. Green Energy Live is extremely pleased to be moving forward with the acquisition of this growing enterprise,” commented Karen Clark, President/CEO of Green Energy Live.