Patrick S. Carter, Chief Executive Officer of renewable energy firm 808 Renewable Energy Corporation (OTCQX: RNWR), today announced that the firm has begun trading on OTCQX®, the marketplace operated by OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces. 808 Renewable Energy is trading on OTCQX under the symbol “RNWR.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Prior to 808 Renewable Energy’s first trading day on the OTCQX®, the Company was one of the first firms to develop an investment method that connected technology and finance – this investment method allowed for the building or converting of power plants at commercial facilities, that could both generate and use renewable energy. These “cogeneration” facilities can save on energy costs and reduce environmental impact, and investors could previously, only directly support these companies that were implementing green energy solutions.
The introduction of 808 Renewable Energy’s public trading platform broadens the opportunity for potential supporters of the Company’s work, to invest in 808’s efforts to create energy projects that lessen environmental impact.
“808 Renewable Energy, through its focus on owning and operating co-generation plants throughout California and the Western U.S., is helping America achieve green energy solutions that can reduce our nation’s dependence on foreign oil,” said R. Cromwell Coulson, President and CEO of OTC Markets Group. “We are excited to welcome this innovative American company to the OTCQX marketplace and wish them success and growth in the public markets.”
“We at 808 Renewable Energy Corporation are thrilled about our first trading day on the OTCQX, and are extremely appreciative of Merriman Capital’s efforts, as advisor and sponsor of this initiative. We feel now, more than ever, that America needs to focus on becoming an independent energy user and needs to wean ourselves from our dependence on foreign oil. Our investors now have an opportunity to have some liquidity and our exposure to the stock market will allow even more of the public to have an opportunity to participate in our growth,” added Mr. Carter.
Merriman Capital, Inc. serves as 808 Renewable Energy’s Designated Advisor for Disclosure (“DAD”) on OTCQX, responsible for providing professional guidance on OTCQX requirements.
808 Renewable Energy owns and operates on-site cogeneration systems that produce energy in the form of electricity, heat, hot water and chilled water under long-term contracts with its commercial, institutional and light industrial customers. Its business is to own the equipment that is located at customers’ facilities and to sell the energy produced by these systems to the customers on a long-term contractual basis.
To date, the Company’s focus has been on acquiring existing combined heat and power (“CHP”) plants. However, its objective is to grow revenue by pursuing the following areas: Continuing acquisition of new or existing CHP or other renewable energy projects; providing maintenance service, monitoring, and operations support to existing CHP plants not owned by the company; and sales of CHP and other renewable energy plants to interested third parties.
About 808 Renewable Energy Corporation
Headquartered in Garden Grove, CA, 808 Renewable Energy bridges the gap between industry and investors with renewable energy cogeneration investments. 808 Renewable Energy’s primary focus, to provide and manage renewable “green energy” projects for manufacturing companies and other large facilities, is accomplished by installing or acquiring for clients, cost-free cogeneration, solar and other renewable energy equipment, which lowers energy costs, reduces environmental emissions, and produces a smaller carbon footprint for everyone involved. 808 Renewable Energy is the largest owner of cogeneration units in the State of California, with more than 50 plants in public and private buildings.
808 Renewable Energy has in place an engineering and maintenance staff capable of handling all design, permitting, maintenance, and upgrades necessary to ensure that their devices operate smoothly and efficiently. To that end, the company has a depth of experience in the design, manufacture, and supply of state-of-the-art technologies in pollution control, energy, waste-to-energy, energy efficiency systems, and combined heat and power systems (cogeneration mechanical units).