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| 8-K - OPTION PLACEMENT, INC. | v211799_8k.htm |
For
Immediate Release
Contact:
Christopher
Wilder, COO
+1
512-687-3451
cwilder@tigaenergy.com
www.tigaenergy.com
Tiga
Energy Services Announces Joint Venture to Deploy Blended Renewable Energy
Plants
AUSTIN, Texas, Feb. 16, 2011–
Tiga Energy Services, Inc., a provider of security, connectivity, and
interoperability solutions to the energy industry, announced today it has formed
a joint venture with Eco-Merge USA LLC., a subsidiary of Dentsu Japan, and
Innovative Energy Group, LLC. to fund, deploy and operate multiple renewable
energy power plants throughout Texas and the USA. Each energy plant
will be privately funded and will blend renewable sources that will include
solar, simple cycle, combined cycle (steam-to-energy), and combined heat and
power plants (CHP) powered from waste-to-energy sources to produce in excess of
15MW of renewable energy. The plants will offer renewable electricity
at rates highly competitive with conventional utilities.
The first
blended renewable energy power plant is scheduled to break ground in the second
quarter of 2011 in Bastrop County, Texas approximately 15 miles from
Austin. The plant will offer electricity to utilities in the Central
Texas region and provide thermal energy services to the planned Eco-Merge Green
Corporate Center.
Under our
business model, the partners and investors will jointly own the plants and sell
electricity at a profit both to an anchor customer and to independent
utilities. We expect that upon completion of our initial deployment,
we will have the ability to present similar opportunities to sites we select
based upon the economics of this project. Eventually, we plan to make excess
electricity not utilized by the anchor customer available to an energy spot
trading market.
The
partnership also seeks additional finance partners and technologies for other
potential locations in Texas and the USA for deployment of viable and efficient
energy solutions.
“Blending
these energy technologies with real-time metering information creates a highly
competitive pricing and distribution model for renewable energy,” said Michael
Hathaway, CEO of Tiga Energy Services. “Over a short period of time,
say 5 to10 years, we believe we will be able to produce reliable and renewable
energy at a price that approaches that of fossil fuels.”
“Eco-Merge
is dedicated to advancing the transfer of green technology, making it both more
accessible and profitable,” said Jerald Wrightsil, CEO of Eco-Merge USA. “By
linking innovative energy technologies from around the world, the global economy
can be more durable and the essential resources of our planet more sustainable.
Our partnership with Tiga Energy Services and Innovative Energy Group puts us in
a strong position to establish a leadership position in driving this
innovation.”
“The
partnership has brought together the necessary companies to establish the first
blended renewable energy project in Texas,” stated Jason Blevins, COO of IEG.
“The blending of these 100% renewable sources and managing them under a single
operator offers significant competitive advantages in pricing and availability
to utilities, corporate campuses, government facilities, and
municipalities.”
Each
company brings a unique skill-set to these projects. Tiga’s patent
pending technology provides the network communication services to secure and
connect energy assets, which allows the energy plants to be remotely monitored
and managed in real-time. Real-time monitoring and managing of energy
production and delivery will provide an opportunity to arbitrage or spot trading
any excess energy to the open market. Eco-Merge has a long track
record of deploying renewable generation and economic development projects
throughout the world and will provide pre-construction services and integration
of energy assets. We expect that Eco-Merge’s historical industry
success will provide the partnership with access to a wide range of global
partners, investors, and technologies. Innovative Energy Group has
decades of experience engineering, designing, and deploying waste-to-energy and
district energy combined heat and power plants in the USA and Asia.
Tiga has
also entered into a contract with the Green Corporate Centers, LLC to assist
with pre-construction architecture and design work to deploy a campus-wide
network to define their communications infrastructure needs. This
solution will enable Green Corporate Centers, and the proposed Central Texas
Airport located on-site, to provide and sell to its tenants both energy and
voice, video, and data capabilities.
About
Eco-Merge
Eco-Merge
is a subsidiary of Japan-based conglomerate Dentsu. Eco-Merge’s vision is to
achieve sustainable economic development in project regions through the
introduction of eco-friendly technologies. As the Eco-Merge concept becomes more
global in scope, the project has the potential to further increase in value. The
Eco-Merge Project is unlike the so-called “smart city” concept. It does not
merely end with the establishment of an advanced, eco-friendly infrastructure.
Cooperation with the participating businesses and fostering of local industries
is expected to generate jobs, spur sustainable economic development, and thereby
promote self-reliance in the project regions.
About
Innovative Energy Group
Innovative
Energy Group (IEG) is an engineering & consulting firm that deploys power
and thermal energy production technologies. Their projects include
work in waste-to-energy, simple cycle, combined cycle (steam-to-energy), and
combined heat and power plants (CHP). IEG provides full process
design, construction, training, operating, and maintenance of power and thermal
plant ancillary systems and district energy projects.
About
Tiga Energy Services
Tiga
Energy Services, Inc., an Austin, Texas based company, provides networking and
communications services to the energy industry. We provide consulting,
engineering, architecture and design services that enable commercial and
industrial energy customers to seamlessly connect, integrate, manage and secure
their energy related assets. Our Flagship product is a network service called
TigaNET that will provide centralized, managed and network services for an
increasingly diverse and distributed energy market. TigaNET addresses a broad
range of communications and automation issues facing energy consumers as they
seek to more efficiently manage energy consumption and offset their energy costs
through the deployment of renewable energy generation and energy storage
technologies. For additional information please visit
www.tigaenergy.com.
FORWARD-LOOKING
STATEMENTS
This
press release contains forward-looking statements that involve risks and
uncertainties, as well as assumptions that, if they do not fully materialize or
prove incorrect, could cause our results to differ materially from those
expressed or implied by such forward-looking statements. Such forward-looking
statements include statements relating to: our ability to fully finance and
construct the energy plants; the timing of the commencement and completion of
any plant; and our future outlook.
The risks
and uncertainties that could cause our results to differ materially from those
expressed or implied by such forward-looking statements include the ability of
us and our partners to develop and implement the required technologies to
integrate the renewable energy sources that will power the plants and other
technical problems relating to the plants, the availability of financing for
energy projects such as those being developed by the Company and its partners,
adverse economic conditions, changes in tax laws applicable to the energy
industry, the adoption of adverse federal, state and local government
regulations, including environmental laws that adversely impact the proposed
energy plants, intense competition, entry of new competitors and products,
unexpected costs and operating deficits, increases in general and administrative
costs, technological obsolescence, price increases for supplies and components,
the possible fluctuation and volatility of the Company's operating results and
financial condition, adverse publicity and news coverage, loss of key
executives, inflationary factors, general political, economic and market
conditions and events, and other risks and uncertainties described more fully in
our public announcements, reports to shareholders and other documents filed with
or furnished to the SEC, including our Current Report on Form 8-K as filed with
the SEC on November 15, 2010. All forward-looking statements in this press
release are based on information available to us as of the date hereof, and we
assume no obligation to update these forward-looking statements.