Hybrid Energy Holdings has signed a Letter of Intent with KS IP Holdings, a private Intellectual Property Holding company specializing in clean energy technologies, to acquire and develop a select group from KS-IPH’s Solar Energy Technologies portfolio. The transaction is valued at $18 million and will be completed as an equity-based transaction with no issuance of debt or use of cash reserves.
The Company is currently completing its due diligence on the individual assets, systems and operations as the first acquisition under its recently announced Solar Energy Acquisition and Development Project; the first official project of the Company’s diversification strategy. The Company will be issuing formal updates as the review and integration process progresses and anticipates a formal closing on this Letter of Intent within the next 30 days.
The Solar Energy Acquisition and Development Project is the first major acquisition and development project under the Company’s New Energy Initiative, which calls for the aggressive investment in, acquisition of and development of nascent ‘New Energy’ technologies Intellectual Property assets and operations in the Clean Energy, Energy Smart Technologies and Carbon Capture & Storage sectors of the Energy Sector.
The Company recently announced Phase II of its growth and acquisition strategy; the diversification and expansion of its current asset holdings with the launch of the ‘New Energy Initiative.’ The Company has successfully established a strong and growing asset base of clean energy producing assets with strong recurring profits and cash-flows. The company will continue its acquisitions in this sector and expand the scope of its acquisitions.
Location: USA, Reno, NV