LONDON, May 10, 2010 (BUSINESS WIRE) -- Revonergy Inc. ("Revonergy" or the "Company"), (symbol RNRG-OTCBB) has formally engaged Bangalore-based Ecoforge Advisors Pvt. Ltd. ("Ecoforge") as consultants to pursue renewable energy projects in India.
Pursuant to this engagement, Ecoforge (www.ecoforge.in) will source, on an ongoing basis, renewable energy projects, in particular operating businesses, for Revonergy to consider. The immediate focus is projects in India, however it is conceivable that the two parties may also collaborate on projects in other Asian markets according to resource allocations.
In addition to sourcing projects, both parties expect Ecoforge to take an active role in project due diligence, negotiations, and adding value to projects (e.g.
by developing new sales of electricity, project expansion, finding joint venture partners, and introducing potential investors).
Ecoforge is a dynamic, boutique investment advisory and strategy consulting firm with a focus on Renewable Energy and other green businesses. Its clients include: -- European private equity funds with investments in renewable energy projects in India and South East Asia.
-- Indian renewable energy project development companies seeking to raise capital (equity, debt and carbon finance), secure international joint venture projects, or to sell renewable energy assets in India and South East Asia.
-- Multinational Companies and other organizations seeking entry strategies for the Indian renewable energy market and also exploring opportunities to develop off-grid renewable energy applications.
Ecoforge has also recently formed alliances with investment banks and financial advisory firms in the USA, UK and Canada to assist its clients in raising debt, private and public equity from these countries.
"We have been very impressed with Ecoforge to date, and believe that we share a common vision and strategy, only with different strengths," states Ravi Daswani, President and CEO of Revonergy. "India is a very important market to Revonergy.
It is one of the fastest growing economies in the world, and has the second largest population. India very much needs new sources of energy to support its massive economic growth, and this agreement with Ecoforge will help us to immediately offer our services in the Indian market," Mr. Daswani says.
"We are pleased with our engagement by Revonergy," states Sagar Gubbi, Managing Partner of Ecoforge. "We very much like the experience and sophistication of its management team, not just as it relates to their understanding of the Indian market, but also their approach to putting together a workable plan for a dynamic global company in the renewable energy sector. We believe the collaboration is opportune for both of us." About Revonergy Inc.
Revonergy Inc. is engaged in the acquisition, development and operation of renewable energy power plants globally. The Company is focused on renewable energy projects that have the potential to generate long-term stable cash flows and renewable energy credits. For more information see revonergy.com IMPORTANT DISCLAIMER: This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions. Actual results may differ materially from the forward-looking statements in this press release.
Additional risks and uncertainties are identified and described in the Company's SEC reports. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and the Company specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
SOURCE: Revonergy Inc.
CONTACT: Revonergy Inc. Jason Knox, +44-207-993-5700 (Investor Communications) firstname.lastname@example.org Copyright Business Wire 2010 -0- KEYWORD: United Kingdom
Asia Pacific INDUSTRY KEYWORD: Energy
Other Energy SUBJECT CODE: Contract/Agreement