Elemental Energy Acquires 100% interest in GreenWing Energy

Elemental Energy Acquires 100% interest in GreenWing Energy

October 17th, 2011

Elemental Energy Acquires 100% interest in GreenWing Energy

Vancouver, BC – Elemental Energy is pleased to announce a significant step forward in its growth and evolution through the acquisition of 100% of GreenWing Energy Management Ltd.  Elemental has been a strategic investor in the company for several years and will now bring the GreenWing team and projects under the Elemental banner in its mission to develop, build, own, and operate clean energy projects throughout North America.

GreenWing brings a wealth of experience in the clean energy space along with a portfolio of development projects across several states and provinces. In the past several years, GreenWing has pursued wing, solar, and gas projects, while Elemental focused its efforts on wind, run-of-river hydro, and biomass projects. Elemental is now positioned to pursue these projects with the combined experience and resources of both teams.

GreenWing co-founder Mike Chapin commented on the opportunity presented by the newly merged entity.  “Elemental has signalled its strong desire to grow its business by increasing its portfolio of projects an adding experienced industry players to the team. We are looking forward to playing a key role in this growth.”

“Combining the Elemental and GreenWing teams under one roof marries together people, projects, and capital – three of the key ingredients in getting renewable energy projects off the ground”, says Elemental Chairman and CEO, Joe Houssian. ” We are diversified geographically and have projects in several sectors of the renewable space, which is crucial for maintaining momentum and accelerating growth in this industry.”

About Elemental Energy

Elemental Energy’s mission is to become a leading clean energy developer, investor and operator through building, owning, and operating utility-scale projects that generate strong financial returns for our shareholders, environmental benefits to the planet, and positive social impact for the communities in which we work. Elemental is poised to grow its portfolio of development and operating assets through a multi-pronged strategy of developing projects, acquiring late-stage and operating assets, and investing in other renewable energy developers.

About GreenWing Energy Management Ltd.

GreenWing Energy develops, acquires and operates electricity generation facilities to meet North America’s growing demand for clean, reliable energy. GreenWing employs a dedicated team of power industry professionals with a proven track record of developing environmentally responsible electricity generation.

For further information, please contact Jamie Houssian at 604 648 6682, jamieh@elementalenergy.ca, or visit www.elementalenergy.ca

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