City Capital Corporation Green Energy Expansion
LAS VEGAS, Feb. 15, 2012 /PRNewswire/ — Having a firm belief that Green Energy is a sound investment as a necessity for the world’s future energy requirements, City Capital Corporation (PINKSHEETS: CTCC) announces that its’ wholly owned subsidiary, Strategic Energy and Power (STEP), has hired Richard Greenblatt as Vice President of Sales for its LED lighting division. STEP is a Nevada-based subsidiary that designs, manufactures, distributes and installs commercial solar power generating installations and commercial LED lighting systems, using its patented and licensed technologies.
Richard has over 40 years of automotive dealership experience, with industry contacts throughout the United States. He will lead the sales team in developing the conversion of the automotive dealership market to the use of high efficiency LED technology in both indoor and outdoor lighting. Richard said “LED lighting can save up to 60% of the Showroom floor and outdoor Lot lighting electric costs, which yield a payback of less than 3 years on the conversion capital investment. Monthly savings in electric costs will recover the cost of financing and return additional monthly cash, with 100% of the electric bill savings adding to profits at the end of the three year payoff.”
“The company is particularly enthused about its new product line offering – High Efficiency LED Lites for retrofit in existing outdoor installations,” said company CEO Donald MacIntyre. “We’re a in the process of retrofitting shopping mall parking lots, industrial complex parking lots and automotive dealerships with energy saving LED fixtures. By utilizing existing fixtures, housings and poles and replacing internal light bulbs and electronics with High Efficiency LED Lites proprietary LED retrofit kits, we minimize the installation cost and reduce energy consumption by up to 60%. Green Energy is still in its infancy, and we’re excited about becoming a leader in this growth industry.”
With distribution and installation agreements already in place, the company offers solar and LED installation for both residential and commercial applications around the country. Talks are up-coming with several Native American entities for systems to meet their needs, and plans are underway to bid competitively for governmental contracts.
Safe Harbor Statement- This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management’s current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovations, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not o place undue reliance on these forward-looking statements, which speak only as of the date hereof. City Capital Corporation, does not intent to update any of the forward-looking statements after the date of this release to conform these statement to actual results or to changes in its expectation, except as may be required by law.
SOURCE City Capital Corporation