Date: February 12, 2009
Source: GreenHunter Energy, Inc.
GreenHunter Renewable Power said it closed on the sale of its 14 MW wood waste-fired biomass power plant in Telogia, FL for $5.7 million, including the assumption of around $1.7 million in debt, to Multitrade Telogia, LLC. GreenHunter, which is a subsidiary of GreenHunter Energy, Inc., had only recently acquired the plant in September 2008 for around US$2.5 million. GreenHunter Energy Chairman, President and CEO Gary C. Evans said, "The sale of this non cash flow-producing asset will allow our company to improve our liquidity position as well as redeploy our capital in a more efficient manner."
For Further Information Contact:
GreenHunter Energy, Inc.
Jack W. Zedlitz
1048 Texan Trail
Grapevine, TX 76051
Tel: (972) 410-1044
jzedlitz@greenhunterenergy.com.
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