Blue Earth Closes on Purchase of Equity Position in PowerGenix With $10 Million Dollar Investment

HENDERSON, NV--(Marketwired - October 30, 2014) - Blue Earth, Inc. (NASDAQ: BBLU), a renewable/alternative energy and energy efficiency services company, announced today that it has closed on its agreement to acquire an equity stake in PowerGenix for $10 million payable through a combination of cash ($2 million) and Blue Earth restricted common shares (3,729,604) valued at $2.145 per share. The restricted shares are subject to a lock up/leak out agreement. Reciprocal equity ownership is designed to fund PowerGenix and maximize the working relationship between the two companies.

Blue Earth has been granted exclusive marketing rights to use the proprietary PowerGenix Nickel-Zinc ("NiZn") batteries to produce intelligent digital NiZn energy storage systems using Blue Earth's proprietary intellectual property for a number of potentially multi-billion dollar market verticals including: Stationary UPS Systems in the Data Center, Military, Telecom, Utility, Renewable Energy, Motor Start-Up, Frequency Regulation, Peak Shaving/Shifting and Demand Shifting market segments. The marketing rights are global for most market verticals.

Mr. Robert Kanode, CEO of PowerGenix, stated, "Advanced technology devices often do not take full advantage of the energy delivery capabilities of today's advanced storage batteries. As a result, advanced technologies often do not fully realize their full performance potential. This is the fundamental strength of our Blue Earth/PowerGenix relationship. Carefully crafting Blue Earth's advanced technology capabilities to PowerGenix's unique nickel zinc battery capabilities is a rare opportunity to fully optimize the performance, cost and safety of PowerGenix nickel zinc battery systems. This relationship is a ground breaking alliance within an energy storage revolution." 

Dr. Johnny R. Thomas, CEO of Blue Earth, stated, "We are delighted to expand our partnership with PowerGenix through these equity and marketing agreements. Partnering with PowerGenix represents an important strategic development for Blue Earth and we look forward to developing, implementing and marketing the proprietary NiZn batteries for the benefit of our customers and shareholders in several large market verticals."

Litigation and Disclosure Statement:

False allegations have been made against the Company by an anonymous blogger that stated he has a short position in the Company's common stock, which has resulted in a class action lawsuit. The Company is in the process of hiring professionals to assist in communications and defense against the false allegations. Management has been advised by counsel to continue to announce significant developments and milestones as they occur. However, management has also been cautioned to avoid forecasts and detailed forward-looking statements for all of our solar, energy efficiency, technology and CHP business units. Our general policy will be to release information as appropriate when significant events occur that define the event in the context of our business model. Management continues to have confidence in our business model and in our ability to create shareholder value over time.