GARDEN GROVE, Calif.,
Oct. 23, 2014 /PRNewswire/ -- 808
Renewable Energy Corporation (OTCQX: RNWR), Closes $2,000,000 of its $10,000,000 Convertible Preferred Offering on the
First Day of the Offering. Board Member Thomas Grainger has
purchased the first $2,000,000 of the
offering and secured a ninety day option on another $5,000,000.
The Company may reduce or increase the size of the Offering at
its own discretion. The Company currently has zero debt and
recently started trading on the OTCQX under the symbol RNWR. In
addition the Company recently estimated a 43% increase in total kWh
of electricity generated in the 3rd Quarter 2014, compared to the
prior Quarter. In addition it looks like sales numbers will be
along the same lines. The company's CEO Patrick Carter was recently quoted as saying
"There is an urgent need among the public and the private sectors
for cost-effective, carbon-neutral energy solutions. Our increased
production validates our commitment to seize this opportunity and
to reward our investors with significant returns in the long run."
The Company's CHP systems produced over 1.4 million-kilowatt hours
in the 3rd Quarter of 2014, compared to less than 1 million
kilowatt-hours in the 2nd Quarter of 2014.
Patrick Carter the Company
Founder and CEO had given the Company a $1,000,000 line of credit as a short term bridge
until the Company offered the Convertible. The Company also
recently announced a 20,000,000 share buyback as it feels the share
price is not reflective of its intrinsic value.
For more information on the terms of the Convertible Preferred
Offering, please contact the company at: info@808llc.com
Or via the web at http://www.808renewableenergy.com
Or via phone at 714-891-8282
https://www.linkedin.com/company/808-renewable-energy
https://twitter.com/808Renewable
http://www.facebook.com/808RenewableEnergy
808 Renewable Energy currently owns and operates 22 CHP energy
systems in 6 sites spread across the San
Francisco Bay Area and Southern
California. The Company is California's leading CHP owner/operator of CHP
systems under 1.5 MW, supplying the public and the private sectors
with eco-friendly, cost-effective electrical and thermal energy.
About 808 Renewable Energy Headquartered in Garden Grove, CA, 808 Renewable Energy bridges
the gap between industry and investors with renewable energy
investments. 808 Renewable Energy's primary focus, to provide and
manage renewable, eco-friendly projects for manufacturing companies
and other large facilities, is accomplished by installing or
acquiring for clients, cost-free cogeneration, solar and other
renewable energy equipment, which lowers energy costs, reduces
environmental emissions, and ecological footprint. 808 Renewable
Energy is the leading CHP provider in the State of California, with more than 22 CHP
systems in public and private buildings.
Forward Looking Statements
Statements contained in this press release may contain
forward-looking statements. Any historical facts stated is
faithfully represented as of the date these statements are
released. Any expectations about the projected production are based
on current projection and may substantially change under unforeseen
events and/or circumstances in the future. The Company is not
obliged to update the forward-looking statements provided for any
events that occur or any circumstances that exist after the date
this statement is published.
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SOURCE 808 Renewable Energy Corporation