Salt Lake City, Utah - June 16, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Gaensel Energy Group, Inc., (OTC Pink: GEGR) ("Gaensel" or the "Company"), a diversified holding company, announces a corporate update.
The Company is pleased to announce the completion of the first of a number of Renewable Energy Projects in development with a binding Agreement to purchase thirty percent (30%) of the total assets and intellectual property of LB Energia SRL of Milano, Italy. LB Energia owns and operates an EU certified electric plant in None, Torino, Italy. The plant, which was designed by General Electric, converts recycled wood and wood related products into electricity and green warm energy. LB Energia has an existing twenty year agreement with the Italian government entity GSE in Torino, Italy, with 15 years remaining on the contract. The current productivity is 2 Megawatts/h green warm energy (heat) and 125 Kilowatts/h pallets (electricity).
The electricity is sold now to GES at euro 0,21/kwh and the residual electricity is being sold to brokers at euro 0,290/ kwh. Gaensel and LB Energia, under the agreement, will be deploying additional equipment throughout Italy. The Company revenue for 2021, in spite of the pandemic, was over $2,000,000 USD. Peter Koley, our CEO, stated that given the current global energy crisis the acquisition of LB Energia and development of additional acquisitions and partnerships with existing proven energy companies has the potential of substantial return to our shareholders.
About Gaensel Energy Group, Inc. (OTC Pink: GEGR):
Gaensel Energy Group, Inc. (OTC Pink: GEGR) is an international holding company with assets exceeding $55.6 Million. In 2021, the company grossed $77.9 Million in sales at a healthy 46.3% operating margin. Gaensel's interests are diversified across several industries with double-digit projected annual growth rates over the next five years. Our asset base includes proven revenue producing companies in Biotech, Commodities, Health, Beauty - Fashion, Green Renewable Energy, Technology, and the Metaverse.
This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of Gaensel Energy Group, Inc., (GEGR), and certain of the plans and objectives of GEGR with respect to these items. Examples of forward-looking statements include statements made about our strategy, estimates of sales growth, future EBITA and future developments in our organic business. Forward-looking statements can be identified generally as those containing words such as "anticipates", "assumes", "believes", "estimates", "expects", "should", "will", "will likely result", "forecast", "outlook", "projects", "may" or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
These factors include, but are not limited to, domestic and global economic and business conditions, the successful implementation of our strategy and our ability to realize the benefits of this strategy, our ability to develop and market new products, changes in legislation, legal claims, changes in exchange and interest rates, changes in tax rates, pension costs and actuarial assumptions, raw materials and employee costs, our ability to identify and complete successful acquisitions and to integrate those acquisitions into our business, our ability to successfully exit certain businesses or restructure our operations, the rate of technological changes, political, economic and other developments in countries where GEGR operates, industry consolidation and competition. As a result, GEGR actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements.
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