From the Wires
Global Resource Energy Inc. -- LED Lighting, The Future for New Orleans
By: PR Newswire
Dec. 4, 2012 05:30 AM
NEW ORLEANS, Dec. 4, 2012 /PRNewswire/ -- Global Resource Energy Inc. (OTCQB: GBEN) - -
After installing more than 50 "CLED" LED street lights in New Orleans over the past two years for a pilot project, the city plans to continue their program of migration to highly efficient LED lighting. In an announcement made by Mayor Nagin's Public Works Director Robert Mendoza, the city plans to spend $5.34 million on streetlights this year: $1.5 million from its general fund, $2.9 million in Disaster Community Development Block Grant money for post-Katrina repairs and $940,000 to begin a conversion to LEDs, or light-emitting diode lamps, which are more expensive but can last as long as 12 years. Mendoza said he hopes to convert to LEDs in four years.
So far the LED street light of choice for The City of New Orleans has been the CLED street light manufactured in Dongguan City, China sold in North America under the "Kardings America" brand. The company (GBEN) currently has the exclusive distribution rights for Kardings Lights through the agreement signed in January 2012 with the Patedma Group Corp. of Los Angeles, California and plans to encourage The City of New Orleans to continue to expand the use of these lights to the rest of the city as the transitioning from High Pressure Sodium Vapor (HPS) street lights to LED. New Orleans has a total of 65,000 street lights and plans to transition around 16,000 lights per year once the project is underway.
The City of New Orleans has also been experimenting with LED lighting around the Superdome and in area college and university campuses with success.
Kardings is a multi-national green energy company designed to help bring eco-friendly technology to the market. Kardings offers LED Street Lights to all municipalities and can access a special fund called The Hero© program which was established specifically for green initiatives in municipalities. The lighting systems are highly efficient, dependable and come with the best warranties available in the industry. In most cases a city, town or village may retrofit to energy efficient led street lighting at no increased cost and may even put money back into municipal budgets. Kardings' website is www.kardings.com.
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Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
On behalf of the Board of Global Resource Energy Inc.
SOURCE Global Resource Energy Inc.
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