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Cirque Energy, Inc. Completes Name Change, Announces New Directors and Strengthens Capital Structure
DETROIT, Aug 30, 2013 (BUSINESS WIRE) -- Green Energy Renewable Solutions, Inc. (OTCQB:EWRL), today announced that the Company has completed several significant steps in its reorganization as Cirque Energy, Inc. ("Cirque"). Cirque is a sustainable energy development company focused on waste stream optimization and distributed power generation projects. Cirque uses waste conversion and recycling technologies to reduce waste volume entering landfills and produce renewable energy at attractive margins.
On August 15, 2013, Green Energy Renewable Solutions, Inc. filed several amendments to its Articles of Incorporation with the Florida Secretary of State, Division of Corporations. These amendments effectively changed the Company's name to Cirque Energy, Inc., and the following officers of Cirque Energy have been approved as new members of Cirque's Board of Directors:
Thomas Cote, Director
Mr. Cote is a construction and real estate professional with 28 years' experience in managing and delivering complex construction projects in the United States, Europe, and Asia. Most recently, Mr. Cote has been involved in the development of several energy projects including ethanol, biomass, waste to energy and agricultural products to energy. His role at Cirque Energy includes establishing and guiding overall business strategy, providing the vision and purpose to advance the Company's mission and objectives, business development, project planning and execution, customer relations, and program management support.
Roger Silverthorn, CPA, Chief Financial Officer
Mr. Silverthorn has over 30 years of experience in the renewable energy business and power plant owner and operator of eight solid fuel biomass power plants in two countries and several states. He led the development of a vertically integrated fuel system in appropriate jurisdictions. Mr. Silverthorn was an early entrant to the renewable energy business when renewable power generation was in its infancy. He was among the first in the United States to develop a renewable energy marketing company.
Richard Fosgitt, PE, Vice President - Technology and Engineering
Mr. Fosgitt is a professional engineer with over 20 years of experience in the industrial, energy and development sectors. Most recently, he has recently been involved in the development of several energy projects including biomass, waste to energy, agricultural products to energy, and wind energy. His design experience on engineering projects of all sizes and with multiple energy systems allows him to assess customer demands and develop the optimum system to meet those needs within the required economic parameters. Mr. Fosgitt's expertise also includes site assessment, due diligence, environmental permitting, and engineering approvals.
Additionally, as previously approved by Green Energy's majority shareholders in May, the Company authorized an increase in its Capital Stock to 300,000,000 shares of Common Stock at Par Value of $0.001, and 20,000,000 shares of Preferred Stock at Par Value $0.001. Each Common Share issued and outstanding shall be entitled to one vote and the Preferred Shares shall be designated by the Board of Directors. Green Energy intends to apply for a new trading symbol, and the company will continue to trade under its current symbol, EWRL, until a new trading symbol is assigned.
Mr. Joseph DuRant, Chief Executive Officer of Cirque Energy Inc., commented, "Since the merger of Green Energy and Cirque Energy was announced in May, we have been working diligently to integrate all aspects of our respective organizations as quickly as possible. Completion of these final steps in the implementation of our merger allows Cirque Energy to move forward and establish a clear identity and strong presence in the waste-to-energy industry, with an appropriate capitalization to support our anticipated growth and take advantage of attractive business development opportunities."
About Cirque Energy, Inc.
Cirque Energy Inc. is a sustainable energy development company focused on distributed generation projects and waste stream optimization. Its projects serve utilities, manufacturing, and institutional clients. The Company operates with long-term supply agreements to process waste materials into valuable recyclables and reduce waste volume going into landfills by up to 85%. Cirque Energy has developed a strategic plan to create sustainable, renewable energy with waste-to-energy power plants and the production of waste derived fuels. The Company primarily utilizes a unique co-development business model to collaborate with clients to develop solutions for their long-term energy needs. For more information about Cirque Energy please visit
http://www.cirque-energy.com
SOURCE: Cirque Energy, Inc.
CONTACT:
Cirque Energy, Inc. Joseph Durant, 888-963-2622 CEO or Investor Relations Porter, LeVay & Rose, Inc. Michael J. Porter, 212-564-4700
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