LOS ANGELES, July 9, 2010 (GLOBE NEWSWIRE) -- Green Globe International, Inc. (Pink Sheets:GGII), the worldwide owner of the Green Globe brand, today announced that the company has completed a second round of equity investment in Village Green Global, Inc., whose SMARTweb® environmental auditing tool establishes a baseline for its clients to begin measuring and potentially monetizing their environmental improvements.
Under a co-venture and reciprocal licensing agreement, Green Globe International has the right to acquire up to $2,000,000 of Village Green's common stock. Green Globe exercised the option to acquire a portion of the Village Green stock several weeks ago and recently completed a second equity purchase. Village Green is also currently engaged in the process of imbedding a Green Globe Baseline Standard into the SMARTweb® tool.
"We continue to believe that Village Green presents an incredible opportunity for Green Globe, both as a strategic partner and as an investment," stated Steven R. Peacock, Managing Director and Chief Executive Officer of Green Globe International, Inc. "Since we entered into our original Letter of Intent with Village Green, we have seen the potential business for both our companies expand considerably, and we expect to be able to announce several of these significant revenue generating contracts shortly."
Village Green Global has also been featured in new global survey published by independent Verdantix, an independent, analyst research firm focused on sustainable business strategies and market opportunities. For the report, 65 software providers were surveyed and a total of 126 software applications that support environment, energy, carbon, corporate responsibility, sustainability and health and safety business processes are represented. A press release regarding the report was issued on July 8, 2010, and can be viewed at http://www.verdantix.com/index.cfm/papers/Press.Details/press_id/36/verdantix-says-a-new-era-of-sustainable-business-software-has-arrived.
"We are pleased to have been included in the Verdantix report alongside some of the largest software providers in the world," said Doug Smith, CEO and Founder of Village Green Global, Inc. "The report lists Village Green in the select group of companies that provides both SaaS and Enterprise Applications, and we believe that this is one of the factors that positions Village Green very well in a competitive market."
Village Green's SaaS-based carbon accounting tool, SMARTweb® not only tracks the environmental impacts of businesses, but makes unique product-specific recommendations to improve sustainability and reduce costs. Unlike most assessment tools, SMARTweb features an easy-to-use online interface that can save thousands of dollars versus using environmental consultants or building auditors. Moreover, SMARTweb can significantly lower logistical costs, resulting in additional savings.
The Green Globe brand and program, which traces its roots back to the United Nations Rio de Janeiro Earth Summit in 1992, where 182 Heads of State endorsed the Agenda 21 principles of Sustainable Development, has primarily been used in the travel and tourism industry but is now being expanded to include a growing number of environmentally responsible businesses in a variety of market sectors. The Green Globe brand is an ideal symbol for the world's increasing awareness of environmental responsibility and response to global climate change.
The company encourages all shareholders and others interested in following the progress of the Green Globe brand to subscribe to receive email alerts whenever new information is made public. To subscribe, please visit http://www.greenglobeint.com/stayconnected/email/.
About Village Green Global, Inc.
Established in 2002, Village Green Global pioneered automated environmental reporting for businesses. The company provides reporting solutions, advisory services, and education to support better business practices and improved bottom line performance. Its SMARTweb® carbon emissions accounting tool enables organizations to accurately gather and verify emission data using the online application allowing for multiple levels of automated reporting not possible with manual, non-integrated systems. SMARTweb has been used for more than 6,000 environmental audits and incorporates approximately 30,000 devices in its database. Get Green helps students of all ages learn processes needed to take advantage of green job opportunities within environmental services worldwide. For more information, visit http://www.villagegreenglobal.com.
About Green Globe International, Inc.
Green Globe International, Inc. is the worldwide owner of the Green Globe brand, which includes the leading sustainability certification and benchmarking programs, carbon footprint calculation and offset programs, and a broad range of consulting services. Green Globe International has been admitted as an affiliate member of the United Nations World Tourism Organization. The World Travel & Tourism Council (WTTC), the business leaders' forum for the travel and tourism industry, is a 5% common stock owner of Green Globe International. For more information on the company and its programs, please visit www.greenglobeint.com.
For information on Green Globe Certification, please visit www.greenglobe.com. To see sustainable travel options, please visit www.greenglobe.travel.
Green Globe services in the Asia Pacific are distributed, managed and sold exclusively by Green Globe Asia Pacific (GGAP) through EC3 Global. If you would like further information on GGAP, please visit www.greenglobe.org.
The Green Globe International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6582
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of Green Globe International, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.