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Salt Lake City, Utah–(Newsfile Corp. – May 25, 2021) – Gaensel Energy Group, Inc., (OTC Pink: GEGR) (“Gaensel” or the “Company”), a diversified holding company with assets in Biotech, Software/Gaming and VR, Health, Beauty and Fashion, Technology, CRM & Data, Commodities, Retail Coffee, as well as General Contracting and Patented Building supplies, today announces that it has signed a Memorandum of Understanding and a preliminary purchase agreement to acquire a hydro-power plant company, Idroelettrica Torrente Otro S.r.l., as part of a business plan to set up mining operation for Crypto by using the Green energy that will be generated by the plant, http://www.bitgogreen.com.
BitGoGreen
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Hydropower
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THE LOWEST INDUSTRY CARBON FOOTPRINT HYDROELECTRIC POWER
Hydropower is one of the most effective and lower cost renewable energy sources. It also allows managing resources in a sustainable way and producing with low carbon emissions. It is natural and friendly with the environment. We believe it is crucial that most of the energy consumption comes from natural resources. Our goal is to have the lowest carbon footprint in the industry.
https://www.energy.gov/eere/water/benefits-hydropower
“BitGoGreen” is the name of the overall initiative by GEGR which will cover the energy production and the Crypto operation. In this way, GEGR will enter in one of the key-tech areas of development for the coming years with a sustainability approach to reduce at minimum terms the impact on climate change. The full project will start with the completion of 3MW, (currently subject to the final permits), 100% powered with environmentally friendly hydro power energy plant in Italy over the coming months which will support the Crypto mining operations. This business model of acquisition of the hydro power energy plant and then deployment of the Crypto mining operations will be expanded also in other locations. The acquisition of the entities will be paid in existing outstanding common stock shares of Gaensel Energy Group, Inc. and will not create dilution to existing shareholders. The parties are finalizing the Due Diligence and the obtaining of all local permits to complete the plant that already has absorbed over Five Million USD ($5,000,000) of investment so far.
“BitGoGreen” founder has deeply approved the strategic alliance with GEGR that will generate high potential in the long run to grow up the project significantly and quickly. Through the agreement with GEGR, “BitGoGreen” founder conveyed to GEGR all the rights with regard to the development of the project, which includes the acquisition of the Italian company for the hydro-power plant.
Upon completion of the final agreement, GEGR will implement a Capital Commitment Agreement for 20 Million USD, ($20,000,000).
About Gaensel Energy Group, Inc. (OTC Pink: GEGR):
Gaensel Energy Group asset base currently consists of proven companies in Biotech, Commodities, Health, Beauty, Fashion, Green and Renewable Energy, and Technology. The management teams for each of these divisions are actively seeking similar partners in each space for expansion and additional acquisitions. We have been listed on the United States OTC Markets since 2002 and the Company is current.
Gaensel Energy Group, Inc.
57 West 200 South
Suite 300
Salt Lake City, UT 84101
admin@gegrgroup.com
Phone: +1 518-567-3649
https://www.gegrgroup.com
Forward-Looking Statements
This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of Gaensel Energy Group, Inc., (GEGR), and certain of the plans and objectives of GEGR with respect to these items. Examples of forward-looking statements include statements made about our strategy, estimates of sales growth, future EBITA and future developments in our organic business. Forward-looking statements can be identified generally as those containing words such as “anticipates”, “assumes”, “believes”, “estimates”, “expects”, “should”, “will”, “will likely result”, “forecast”, “outlook”, “projects”, “may” or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
These factors include, but are not limited to, domestic and global economic and business conditions, the successful implementation of our strategy and our ability to realize the benefits of this strategy, our ability to develop and market new products, changes in legislation, legal claims, changes in exchange and interest rates, changes in tax rates, pension costs and actuarial assumptions, raw materials and employee costs, our ability to identify and complete successful acquisitions and to integrate those acquisitions into our business, our ability to successfully exit certain businesses or restructure our operations, the rate of technological changes, political, economic and other developments in countries where GEGR operates, industry consolidation and competition. As a result, GEGR actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85117
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