Hybrid Energy to Acquire Breakthrough Heavy Oil Extraction Technology: 60% of US Oil Reserves Heavy Oil Waiting to Be Extracted
22 Julio 2010 - 7:30AM
Marketwired
Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) announced today the
signing of a Letter of Intent (LOI) with Visalo Energy, Inc. to
acquire their Heavy Oil Extraction Technology, paving the way to
enter the expanding $155 billion per year Heavy Oil Industry.
The LOI calls for the Company to acquire the Intellectual
Property (IP) asset, the International Licensing rights for
distribution and operations; as well as to Joint Venture with
Visalo Energy Inc. regarding further technological development. The
company will also initiate sales and marketing efforts to locate
oil producing properties for joint venture production
arrangements.
The Heavy Oil Extraction acquisition, together with the Solar
Energy Acquisition and Development Project and the addition of
technologies to increase the Company's production efficiencies and
profitability, will increase the Company's revenue and shareholder
value.
The Company has commenced its due diligence process and
anticipates a closing of this transaction on or before October 15,
2010. Shareholders can expect timely updates as the company
completes its due diligence and integrates these technologies and
operations into its expanding portfolio of both Oil & Gas
producing properties and New Energy technologies, Intellectual
Property assets, and operations in the Clean Energy, Energy Smart
Technologies and Carbon Capture & Storage sectors.
The Company initially plans to focus its initiative on the
extraction and profitable recovery of 'heavy oil' reserves from
existing wells not in active production.
Visalo's technology is a unique proprietary production and
extraction method that dramatically increases recovery rates to 90%
or higher at substantially lower entry costs in the heavy oil
production industry.
Worldwide, the Heavy Oil industry is a $155 billion-a-year
business, and is expected to continue growing as oil demand
increases and supplies dwindle.
The Company's foundation-building Phase I strategic plan called
for traditional and proven fuel production acquisitions to
establish revenues and assets. Building on its success, the Company
launched Phase II of its growth strategy and began its transition
to alternative and renewable energy and technology revenue
models.
The company's New Energy Initiative calls for the aggressive
investment in, and acquisition 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 is assessing the acquisition of several new assets,
operations and technologies and encourages further technology
submittals and developmental joint ventures through the Merger
& Acquisition portal at www.HybridEnergyHoldings.com
About Hybrid Energy Holdings Hybrid Energy
Holdings (HEH) acquires and operates profitable energy companies
with strong historical cash-flow and sustainable profitability. The
Company acquires sector-specific technology and assets as part of
its Phase II Clean Energy Initiative. HEH's prior foundation
building acquisitions focused primarily on traditional and proven
fuel production has transitioned its growth strategy to adding the
latest in energy conservation, reclamation, and power co-generation
technologies. HEH may acquire nascent energy technology or rights
as portfolio enhancing assets. HEH's primary business strategy is
the acquisition of diverse, profitable energy related assets that
provide synergistic profits and revenue enhancements across all
portfolio companies.
HEH believes its combination of profitability and mitigated-risk
funding structures provides long-term shareholder equity
appreciation.
The company maintains its web site at:
www.HybridEnergyHoldings.com
Safe-Harbor Statement This release
contains statements or projections regarding future performance
that are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those projected as a result of certain risks and
uncertainties. The company's filings contain various RISK FACTORS
(and are incorporated on the Company's website "Investors" section
by reference) and should be read before any investment
decision.
Contact: Investor Relations Tel: +1 (775) 636-7602 Fax: +1 (775)
996-7330 info@HybridEnergyHoldings.com
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