DirectView Completes Acquisition of GS Carbon
Company Provides Update on Its New Business Model
NEW YORK--(BUSINESS WIRE)--
DirectView, Inc. (OTC Bulletin Board: DRVW) today announced the completion of its acquisition of 100% of the stock of GS Carbon Trading, Inc. ("GS Carbon"), from GS Energy Corporation (OTC Bulletin Board: GSEG) in return for the issuance to GS Energy of about 85% of DirectView's issued and outstanding stock.
GS Carbon is a recently formed development stage company that was founded to facilitate decarbonization in ways that cost-effectively capitalize on the evolving carbon markets.
"GS Carbon's chief goal is to affect reductions in the carbon intensity of energy consumption," said Kevin Kreisler, GS Carbon's chairman and chief executive officer. "Initially, we plan to achieve this through our investments in and ongoing support of Sterling Planet and TerraPass and their trading and sales of renewable energy certificates, energy efficiency certificates, as well as other similar attributes that represent the positive environmental attributes of reduced carbon emissions. Our expectation is that a public posture will enhance the growth and development of Sterling's trading business and GS Carbon's other planned initiatives. We are excited by this transaction and we look forward to making a significant contribution to reducing carbon emissions."
GS Carbon owns about 10% of Sterling Planet, Inc., the nation's leading retail renewable energy provider, and about 10% of TerraPass, Inc., which company provides a service that aids in eliminating personal vehicle contributions to global warming.
Sterling Planet, Inc.
Sterling has established a strong reputation as the premier market maker for renewable energy sales. Sterling has sold over 4 billion kilowatt hours of renewable energy since its inception, representing enough energy to power 350,000 homes for a full year and offset 2.6 million tons of carbon dioxide. Sterling Planet currently services an impressive array of clients including Alcoa, The Coca-Cola Company, DuPont, Delphi Corporation, Duke University, University of Utah, Nike, Pitney Bowes, U.S. Environmental Protection Agency, the U.S. General Services Administration, the Homeland Security Department, Western Area Power Administration, New York State Energy Research and Development Authority (NYSERDA), the U.S. Army, Staples, Whirlpool Corporation, the World Resources Institute and over 150 other companies. Additional information on Sterling Planet is available online at
www.sterlingplanet.com.TerraPass, Inc.
By issuing a "TerraPass" to its members, TerraPass utilizes its members' contributions to promote global energy efficiency and greenhouse gas reduction through targeted projects. It is through these clean energy projects that TerraPass counterbalances pollution from its members' vehicles. TerraPass recently partnered with Ford Motor Company in a program called "Greener Miles," which allows consumers to calculate the amount of carbon dioxide produced by their car in one year of driving, and then to purchase a TerraPass linked to the cost of producing an amount of clean energy equivalent to the carbon dioxide produced. Individual purchases range from $29.95 to $79.95 annually, depending on the type of vehicle, amount of carbon dioxide emitted and miles traveled, and the funds are used to invest in U.S. based renewable energy projects. Additional information on TerraPass is available online at
www.terrapass.com.DirectView sold its videoconferencing businesses, which previously accounted for 100% of DirectView's operations, immediately prior to completion of the GS Carbon acquisition. DirectView intends to change its name to be consistent with the GS Carbon business model as soon as possible. Additional information regarding these transactions is available in DirectView's and GS Energy's Forms 8K, filed on October 13, 2006.
About GS Energy Corporation
GS Energy Corporation (OTC Bulletin Board: GSEG) is development stage company whose mission is to facilitate the more efficient use of traditional sources of energy and the increased production and use of renewable sources of energy. Additional information on GS Energy and its business model is available online at
www.gs-energy.com.GS Energy is about 80% owned by GreenShift Corporation (OTC Bulletin Board: GSHF), a company devoted to facilitating the efficient use of natural resources.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of GS Energy Corporation, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Source: GS Energy Corporation