EGPI Firecreek, Sets Closing Date of Acquisition for Arctic Solar Engineering
Posted on: Mon, 24 Jan 2011 01:08:42 EST
Symbols: EFIRD
Jan 24, 2011 (Close-Up Media via COMTEX) --
EGPI Firecreek, Inc. announced that an anticipated closing date of January 31, 2011 has been set for the completion of the acquisition between EGPI Firecreek, Inc. and Arctic Solar Engineering.
In other related news, Arctic Solar Engineering announced that within a few weeks it will complete the installation of the largest Solar Thermal alternative energy system in the Midwest.
The Company said the Solar Thermal System installed at the City Hall of Chesterfield, MO consists of 110 solar thermal arrays and an 8000 gallon thermal mass energy storage tank. Additionally, it has a name plate capacity of 82 kilowatts with an estimated annual production of 110 megawatt hours. Savings to the City are estimated to payback 100 percent of the City's investment within 5 years, after which, energy produced by the system will have zero cost to the City.
Fred Sussman, CEO of Arctic Solar Engineering, stated, "This is a very exciting time for the city of Chesterfield and for Arctic Solar. We are a Chesterfield based company providing an alternative energy solution for our own hometown city, which has a measurable return on investment. This will ultimately be done with zero federal, state or local subsidy dollars."
Arctic Solar Engineering, LLC integrates Solar Thermal Energy technology patented over 30 years ago by Daimler Aerospace in Germany.
EGPI Firecreek, Inc.'s business and acquisition strategy is focused on both the vertical integration of enterprises serving the D.O.T. Construction and Intelligent Traffic System markets through South Atlantic Traffic, Inc. (SATCO) alongside its subsidiary M3 Lighting, Inc. (M3), and on oil and gas production with an emphasis on acquiring existing fields with reserves, the rehabilitation of potentially high throughput oilfields, resource properties and inventories, through its subsidiary Energy Producers, Inc. (Energy Producers) and for oil and gas servicing business through its subsidiary Chanwest Resources, LLC.
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In other related news, Arctic Solar Engineering announced that within a few weeks it will complete the installation of the largest Solar Thermal alternative energy system in the Midwest.
The Company said the Solar Thermal System installed at the City Hall of Chesterfield, MO consists of 110 solar thermal arrays and an 8000 gallon thermal mass energy storage tank. Additionally, it has a name plate capacity of 82 kilowatts with an estimated annual production of 110 megawatt hours. Savings to the City are estimated to payback 100 percent of the City's investment within 5 years, after which, energy produced by the system will have zero cost to the City.
Fred Sussman, CEO of Arctic Solar Engineering, stated, "This is a very exciting time for the city of Chesterfield and for Arctic Solar. We are a Chesterfield based company providing an alternative energy solution for our own hometown city, which has a measurable return on investment. This will ultimately be done with zero federal, state or local subsidy dollars."
Arctic Solar Engineering, LLC integrates Solar Thermal Energy technology patented over 30 years ago by Daimler Aerospace in Germany.
EGPI Firecreek, Inc.'s business and acquisition strategy is focused on both the vertical integration of enterprises serving the D.O.T. Construction and Intelligent Traffic System markets through South Atlantic Traffic, Inc. (SATCO) alongside its subsidiary M3 Lighting, Inc. (M3), and on oil and gas production with an emphasis on acquiring existing fields with reserves, the rehabilitation of potentially high throughput oilfields, resource properties and inventories, through its subsidiary Energy Producers, Inc. (Energy Producers) and for oil and gas servicing business through its subsidiary Chanwest Resources, LLC.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
For full details on (EFIRD) EFIRD. (EFIRD) has Short Term PowerRatings at TradingMarkets. Details on (EFIRD) Short Term PowerRatings is available at This Link.
