Monogram Energy To Acquire U.S. Green Energy

Feb 10 2009 | 10:23pm ET

Texas-based Monogram Energy has signed a letter of intent to acquire U.S. Green Energy (USGE) of Irvine, California.

The deal will allow Monogram to enter into the manufacturing, marketing and sales of solar-based residential and commercial products and systems, along with additional alternative energy-based projects. Monogram will begin work and development on solar projects through USGE’s Southern California facilities immediately.

"This LOI transaction will overnight initiate the transition of Monogram Energy, Inc. into the alternative energy space, and into the multi-billion dollar U.S. market for solar products and services,” said Billy King, chairman and CEO of Monogram Energy.

USGE is a pre-public holding company focused on acquiring high-growth firms, assets and properties in the green and renewable energy industry. The company designs, integrates, constructs and maintains power systems using a variety of technologies and energy sources.

Jim Faroouque, chairman and CEO of USGE, said: “The opportunity that Monogram Energy, Inc. brings to the table with its public infrastructure in place only enhances the big picture in terms of our larger-scale growing capacity of alternative energy projects, specifically on the solar side to start. Being part of a publicly traded company with access to investment capital allows us to aggressively move into the sales and marketing side of our solar based products and services."

The transaction is subject to due diligence and board approval and has a 90-day closing period. Monogram Energy will acquire 100% of USGE’s issued and outstanding stock.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...