|By Marketwired .||
|November 5, 2012 05:30 AM EST||
HENDERSON, NV -- (Marketwire) -- 11/05/12 -- Blue Earth, Inc. (OTCQB: BBLU) a renewable energy and energy efficiency services company, provided financial projections for 2012 and 2013. The Company expects 2012 revenues of approximately $11 million and 2013 revenues of approximately $100 million and EBITDA greater than approximately $10 million.
Blue Earth expects four projects in California, including three life sciences projects and one solar photo voltaic (PV) project, to be substantially completed in the fourth quarter of 2012. Total backlog is projected to be between $15 million and $25 million at December 31, 2012.
"We have reached a critical inflection in our Company,"stated Johnny R. Thomas, President and Chief Executive Officer of Blue Earth, Inc. "With our recent project financing agreements with Biosar and Greenwood Energy, as well as with others in process, and a strong backlog of orders, we expect our revenues and cash flows to accelerate through the end of this year and into 2013. Our ability to offer bundled energy solutions that provide meaningful cost savings to our customer will generate additional new orders."
BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency and renewable energy sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and substantially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit www.blueearthinc.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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