808 Renewable Energy Corporation, announced a $10,000,000 convertible preferred share offering. The Company may reduce or increase the size of the Offering at its own discretion. The Company currently has zero debt and recently started trading on the OTCQX under the symbol RNWR. In addition the Company recently estimated a 43% increase in total kWh of electricity generated in the 3rd Quarter 2014, compared to the prior Quarter.
In addition it looks like sales numbers will be along the same lines. The company’s CEO Patrick Carter was recently quoted as saying “There is an urgent need among the public and the private sectors for cost-effective, carbon-neutral energy solutions. Our increased production validates our commitment to seize this opportunity and to reward our investors with significant returns in the long run.” The Company’s CHP systems produced over 1.4 million-kilowatt hours in the 3rd Quarter of 2014, compared to less than 1 million kilowatt-hours in the 2nd Quarter of 2014.
808 Renewable Energy currently owns and operates 22 CHP energy systems in 6 sites spread across the San Francisco Bay Area and Southern California. The Company is California’s leading CHP owner/operator of CHP systems under 1.5 MW, supplying the public and the private sectors with eco-friendly, cost-effective electrical and thermal energy.
About 808 Renewable Energy
Headquartered in Garden Grove, CA, 808 Renewable Energy bridges the gap between industry and investors with renewable energy investments. 808 Renewable Energy’s primary focus, to provide and manage renewable, eco-friendly 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 ecological footprint. 808 Renewable Energy is the leading CHP provider in the State of California, with more than 22 CHP systems in public and private buildings.
Image: By Jonnathan McForlan (Own work) [CC-BY-SA-3.0 or GFDL], via Wikimedia Commons