BRIGHTON, Mich., Sept. 01, 2017 (GLOBE NEWSWIRE) -- Each startup has an origins story. CGE Energy (OTCPink:CGEI) has been a story about ingenuity, drive and commitment. CGE Energy has a higher calling — a larger purpose to make a difference. But for a small company like ours, scaling the business to reach that calling, a team must have the vision, the plan and the resourcefulness to execute when all odds are against them.
A Journey Begins
Going back to 2008, a promising wind turbine technology needed saving. The previous company, McKenzie Bay International, ran into some financial problems as well as issues with their engineering design. Having the foresight that vertical-axis wind turbine technology and distributed generation business models would change the energy landscape, we stepped in to complete the project. Completely redesigned and reengineered, we finished the turbine prototype with groundbreaking techniques and proved all the concepts needed to move onto commercial production. Now we had an uphill battle to face and challenges to overcome— starting with over $20 Million in assumed debt from McKenzie Bay.
A Clean Slate
In the coming years, the team made calculated steps forward. Unwavering in belief of success, I (Bryan Zaplitny) have personally invested over $8 Million into the company to date. While it took longer than anticipated, all former liabilities were satisfied. The company now operates virtually debt free. With a clean bill of health, McKenzie Bay merged with us to become the publicly traded CGE Energy, Inc. (CGEI).
In addition to internal investments, a total of $3.2 Million has been raised from outside investors at various times to help keep wind turbine developments moving forward. Continuously perfecting the design, our engineering team has received multiple patents, with additional international patents pending, for our re-engineered commercial WIND-e20 wind turbine. Foreseeing Burtek Enterprises’ (our former WIND-e20 manufacturing partner) closure, we begin discussions with Roush Industries for the next phases of bringing WIND-e20 to market. With assistance from Roush, a 1/10th scale WIND-e20 demonstration unit was fabricated. The CGE and Roush teams are currently working together to build other demonstration units to facilitate pre-sales of the production turbines.
Expanding upon the original model of selling the power the turbines produce, we saw an opportunity to innovate a “sustainability-as-a-service” business model, offering a comprehensive energy solution with no capital cost to the customer. After almost two years of development, this concept went on to become our “CGE Sustain” program.
A Bright Future
With the proprietary “Sustain” business model, we look for the very best facilities to partner with and turn their wasted energy into immediate and long-term investment returns for us and continuous savings for the customer. This superior solution makes it easy for customers to upgrade their infrastructure and increase their facility’s asset value. Utilizing various financial structures, our business plan empowers our goal to create a projected $2.6 Billion portfolio of recurring revenue, spanning 700 hand-selected projects installed over the next 5-years.
During our test marketing campaign in the first quarter of this year, we proved market acceptance for the “Sustain” business model, completing projects in diverse industry segments: government, educational and industrial. In June of 2017 we enacted the next phase of accomplishing the business model and disruptive growth strategy we have been building towards. In the short time since, Sustain has continued to bring approximately $7.7 Million in contracts for CGE Energy. More than $100 Million in projects are currently at various stages in the sales pipeline.
To complete where this journey began, “Sustain” contracts are structured to seamlessly accept the installation of WIND-e20 turbines as they are manufactured.
We thank you for journeying along with us to build CGE Energy. Remember, each of us have the “power to make a difference.”
Bryan Zaplitny
President/CEO
CGE Energy, Inc.
For further information, contact Media Communications, Paul Schneider, 248-446-1344, pschneider@cgeenergy.com
About CGE Energy
CGE Energy (OTCPink:CGEI) makes it easy for businesses, local governments and non-profits to receive the benefits of sustainable energy projects with no upfront cost. By uniquely selling sustainability-as-a-service, CGE’s proprietary Sustain business model delivers a combination of today’s best energy efficiency and sustainable energy generation technologies, including CGE’s exclusive WIND-e20 wind turbine. http://www.cgeenergy.com
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