RenuEn Corporation (OTC Pink: RENU) (PINKSHEETS: RENU) a Renewable Energy Development and EPC Company released their 2013 Annual report. The company also announced the Acquisition of West Palm Beach based SDI Solar, Inc. as a major component of its national branding and growth strategy.
Jeff Nemes, CEO of RenuEn stated, "Today is an extremely important milestone in my mandate to build RenuEn into a national brand through our very successful Energy Solutions Dealer Program. In addition to today's release of our 2013 Annual Report and the continued refining of the company structure and direction, I am excited to announce that we have completed the acquisition of SDI Solar, Inc. In addition, as part of this acquisition, SDI's founder and President David Burrows has joined the company as its new President and Board Member. This appointment followed the recent departure of Walter Kritsky who has left the Company to pursue other opportunities."
Nemes continued, "The acquisition of SDI is important in that it was founded on the very principal of product distribution through a dealer network on a national scale. SDI was founded by Mr. Burrows in 1992 as a retail installation company of exclusive products produced by Riviera Beach based Solar Development Inc. In addition, in the early nineties, as hundreds of solar companies were going out of business, SDI was able to provide thousands of customers with service for their products." Nemes added, "With this acquisition, RenuEn has now become the master dealer and distributer for Solar Development's current product lines as well as all of their new products currently in development."
David Burrows, Founder and President of SDI stated, "After having the opportunity to work with Jeff as my Chief Operating Officer in 2010-2011, the decision to now join the RenuEn team was easy. Over the years I have tried to focus my efforts on the development of cutting edge technology in the renewable field at Solar Development while also managing SDI. Now, with SDI being part of the Energy Solutions brand and the Solar Development master dealer and distributer, I feel we now have the team to expand our national reach." Burrows added, "By having RenuEn manage the sales process as their master distributer, Solar Development can continue to engineer and develop additional new products as they have been since 1974."
Stated Mr. Nemes, "SDI is a licensed Florida General Contractor, Solar Contractor and Roofing Contractor. With SVP Marc Cox and Handy Air as our licensed HVAC contractor, I will be exploring additional opportunities to add plumbing and electrical licenses to the company so all major permitting, licensing and project expertise will all be administered under the RenuEn brand. Having the ability to offer any property improvements or service to commercial or residential customers with the ability to obtain permits and complete all of the associated trades in house will not only help me manage costs, it will also allow RenuEn to compete and bid on any construction project in the renewable field."
Mr. Nemes concluded, "With today's filing of our 2013 Annual Report, we are closing the book on the company's past efforts to develop projects and opportunities with no revenue to support it. Now, with the first quarter of 2014 coming to a close -- coupled with March's record setting sales over $700,000 -- RenuEn is on a path to profitability beginning with the first quarter of 2014."
About SDI Solar Incorporated
SDI Solar, Inc. (www.sdisolar.com) is the Master Dealer/Distributer for Solar Development, Inc. As a pioneer in the renewable energy field, they have been involved with all of the latest engineering and technological improvements that have made solar products practical and desirable for residential and commercial use today.
About RenuEn Corporation
RenuEn Corporation (www.RenuEn.com) is a Renewable Energy Development, Engineering, Procurement and Construction (EPC) Company. The company focuses on Renewable Power projects and the development of solar, geothermal and other renewable energy strategies installing energy saving products and services for residential and commercial clients.
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Follow RenuEn's CEO on Twitter: @RenuEnCEO
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact and Inquiries for Investor Relations:
Michael Irving
Paramount Advisors, LLC
407-878-5462
mike@parvise.com
SOURCE: RenuEn Corp
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RENU_3-31-14_LST_ETL.docx
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