Blue Earth, Inc. (NASDAQ: BBLU) (“Company”) a renewable/alternative energy and energy efficiency services company, announced today that the Company and DCO Energy, LLC (“DCO”) will form a limited liability company (“LLC”) that will design and build a $17.4M Central Energy Center that will provide critical energy and thermal needs for a new hotel and casino (“Resort”) in Las Vegas, NV.
The LLC will design, build and operate the project. The LLC is expected to receive long term recurring revenues through an Energy Sales Agreement with the Resort. The utility contract associated with the Central Energy Center will generate annuity income over the twenty-five (25) year term of the agreement. The Central Energy Center is expected to provide utilities to the Resort at significantly lower prices than traditional utility procurement methods.
The Resort leadership has indicated, “We are delighted with our relationship with DCO and Blue Earth and their ability to reduce our operating costs and increase profitability, while providing a state of the art Central Energy Center that will allow for significant resource conservation.”
Mr. Frank DiCola, P.E. and CEO of DCO Energy stated, “DCO is happy to be working with Blue Earth and their group of engineers to build this Central Energy Center that is forecasted to significantly reduce the energy and operational costs of the Resort. We are pleased that this project is the first of many projects we expect to complete with Blue Earth and its CHP team.”
Dr. Johnny Thomas, CEO of Blue Earth stated, “Blue Earth is excited to work with DCO to build state of the art on site generation facilities for a new market vertical thus expanding our recurring revenue model beyond our initial meat processing customer. We look forward to developing, implementing and participating in the ownership of several projects with DCO.”
About the Resort
The new $115mm boutique Resort will be ideally located in close proximity to the famous Las Vegas Strip. The Resort will provide a truly differentiated Hotel and Gaming experience along with first class dining provisions. With 206 luxury guest rooms and dramatic architecture, this exciting resort marks the return of development in Las Vegas as it will be the first ground up casino development to be completed in Las Vegas in nearly six years. Construction on the Central Energy Center is expected to start in the first quarter of 2015. The Resort is expected to have a grand opening in early 2016.
DCO Energy, LLC is an independent energy development company specializing in the development, engineering, construction, start up, commissioning, operation, maintenance and management, as well as, ownership of Central Energy Centers (CEC), Renewable Energy projects and Combined Heat, Chilling and Power (CHCP) Production Facilities. Collectively, DCO team members have been independently developing projects or have developed and operated approximately 275 MW of electric, 400 MMBtu/hr of Heat Recovery, 1,500 MMBtu/hr of Boiler Capacity and 130,000 tons of Chilled Water Capacity of energy producing facilities totaling over $1 billion dollars of assets. DCO is a P4P partner and approved Energy Services Company (ESCO) for Energy Savings Improvement Plans (ESIP).
BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency and renewable energy sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and substantially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit www.blueearthinc.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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