About The Company
Gaensel Energy Group, Inc. (OTCMKTS:GEGR) is an international holding company. Its assets exceed $55.6 Million. The company also grossed 77.9 Million in sales at a healthy 46.3% operating margin, back in 2021. Since it is a diversified organization, its interests are spread across numerous industries with double-digit projected annual growth rates over the next five years. The asset base includes proven revenue-generating companies in Biotech, Commodities, Health, Beauty – Fashion, Green Renewable Energy, Technology, and the Metaverse.
On Friday, GEGR stock slid 15.40% to $0.0550 with more than 117K shares, compared to its average volume of 105K shares. The stock moved within a range of $0.0510 – 0.0695 after opening trade at $0.0695.
Gaensel Energy Group, Inc. (GEGR) Announces Acquisition of Thirty Percent (30%) of Biomass Plant
The diversified holding company, Gaensel Energy Group, Inc., has provided a corporate update on June 16, 2022. It has announced the completion of the first of several Renewable Energy Projects in development. A binding agreement has been signed too, for purchasing 30% of the total assets and intellectual property of LB Energia SRL of Milano, Italy.
LB Energia owns and operates an EU-certified electric plant in None, Torino, Italy. It was designed by General Electric, and converts recycled wood, along with wood-related products into electricity and green warm energy. LB Energia has an existing twenty year agreement with the Italian government entity GSE in Torino, Italy. As of now, 15 years still remain on the contract. The current productivity is 2 Megawatts/h green warm energy (heat) and 125 Kilowatts/h pallets (electricity).
Peter Koley, CEO of Gaensel Energy Group, has commented that due to the present global energy crisis, the acquisition of LB Energia and the development of additional acquisitions and partnerships with existing proven energy companies has the potential for a significant return to their shareholders.
At present, the electricity is sold at Euro 0,21/kwh, while the residual electricity is sold to brokers at Euro 0,290/ kwh. According to the agreement, both Gaensel and LB Energia will deploy extra equipment throughout Italy. The former’s revenue for 2021, despite the Covid-19 pandemic causing substantial damage to the economy, was over $2,000,000 USD!