LOS ANGELES, June 14, 2010 (GLOBE NEWSWIRE) -- Green Globe International, Inc. (Pink Sheets:GGII), the worldwide owner of the Green Globe brand, today announced the signing of a co-venture and reciprocal non-exclusive licensing agreement with Village Green Global, Inc. The agreement is the next step in the process of Village Green imbedding a Green Globe Baseline Standard into Village Green's SMARTweb® low cost, environmental auditing tool, which establishes a baseline for its clients to begin measuring and potentially monetizing their environmental improvements.
The agreement, which followed a Letter of Understanding (LOU) between the parties, grants Village Green a non-exclusive license to use, promote, market, and display the Green Globe Baseline Logo as it relates to its use within the SMARTweb environmental auditing report. It also grants Green Globe the right to use the intellectual property of Village Green, represented by the baseline criteria and standards developed by Village Green, and as contained in its SMARTweb product, for a period of three years.
"The agreement also includes an option through the end of the calendar year under which Green Globe International would have the right to acquire up to $2,000,000 of Village Green's common stock at a fixed price that our advisory team considers to be an exceptional opportunity, based on the signing of this co-venture agreement and our projects currently in the pipeline both here in America and abroad," stated Steven R. Peacock, Managing Director and Chief Executive Officer of Green Globe International, Inc.
Village Green Global provides reporting solutions, advisory services, and education to support better business practices and improved bottom line performance. Village Green launched the SaaS-based SMARTweb carbon emissions accounting tool. SMARTweb enables organizations to accurately gather and verify emission data using an online application, allowing for multiple levels of automated reporting not possible with manual, non-integrated systems. Prominent global brands have already benefited from Village Green solutions and improved bottom line performance by reducing their environmental impact. The company's "GET GREEN" program helps students of all ages learn energy savings processes at home that will be needed to take advantage of green job opportunities within environmental services worldwide in the future.
"This combination of our scalable SMARTweb environmental audit report and the Green Globe Baseline Standard and logo is the initial step for our clients to maximize their rewards for following a path towards sustainability from first establishing a baseline to a full Green Globe Certification, which is recognized around the world," said Doug Smith, president and CEO of Village Green Global, Inc. and a Director of Green Globe International, Inc.
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. Aligning with Microsoft Corp. in September 2009, Village Green launched the SaaS-based SMARTweb® carbon emissions accounting tool, which 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. Global brands such as CISCO, Daimler Chrysler and Westfield have already benefited from Village Green solutions and improved bottom line performance by reducing their environmental impact. 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.