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LiquidStockReport.com. News on GELV Acquisition with $6 Million Revenue, Peck Electric

Del Mar 2/25/2010 02:47 PM GMT (TransWorldNews)

Del Mar, CA – Green Energy Live, Inc. (OTCBB: GELV), a growing clean energy company engaged in developing sustainable biomass-to-energy conversion solutions for the U.S. livestock industry, has announce yesterday, its progression with the acquisition of Peck Electric Inc.

Established in 1972, Peck Electric is Vermont's leading provider of electrical contracting services. The company's is an established provider of electrical contracting services which generated $6 million in gross revenue last year. Their long roster of customers includes IBM, UPS, Energizer Battery Company and Ben & Jerry's, among others. Peck provides commercial and residential electrical contracting, installs telecommunications systems, provides solar power installations, and designs and develops clean energy products. Upon acquisition Peck will become a wholly owned subsidiary of Green Energy Live. Green Energy Live, Inc. is conducting its due diligence phase of this acquisition and will commence the required financial audits in March 2010. Upon completion of these pre-acquisition investigations, Green Energy Live, Inc. and Peck Electric will determine a closing date for this transaction.

Jeff Peck, President of Peck Electric, commented: "We have been in business for 38 years and pride ourselves on our quality of service, longstanding customer relationships, and ability to innovate to meet market demand. Peck generated $6 million in gross revenue in calendar year 2009. We believe our established electrical contracting services business will be significantly augmented by our new clean energy initiatives as well as exposure to the public markets. We are eager to combine forces with Green Energy Live."

Karen Clark, President/CEO of Green Energy Live, commented: "Green Energy Live chose Peck Electric for its excellent management team, extensive systems design and development expertise, ongoing revenue and exciting new clean energy product development. Upon closing of the acquisition we look forward to helping Peck achieve continued growth and expanded market penetration. Peck Electric brings several critical components to Green Energy Live that will allow us to offer clean energy solutions in the marketplace."

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