SAN DIEGO, May 17, 2010 (GLOBE NEWSWIRE) -- GreenHouse Holdings, Inc. (OTCBB:GRHU), a San Diego-based global green solutions provider, announced that the Company is accelerating its strategy to expand into new geographic markets for further revenue growth as well as offering a new branding model for contractors interested in offering environmentally-friendly energy savings products to their customers. GreenHouse is a provider of cost-effective residential and commercial building and improvement strategies that improve the environment.
The Company generated revenues of $4.5 million in the 2009 fiscal year based primarily on sales in San Diego, California. These strong sales have encouraged GreenHouse management to enter new markets in California by opening satellite offices throughout the state. The newly announced offices will operate within Los Angeles and Orange counties. In addition, GreenHouse plans to create a branding model for its green building business in which contractors around the country could leverage the GreenHouse name, expertise and suite of green building products to grow and expand their business.
"Our expansion into new markets and the introduction of a branding model based upon our success in San Diego County makes perfect sense for the company and its growth plans," said Chris Ursitti, the CEO of GreenHouse Holdings. "By expanding our geographic footprint, we believe we can significantly augment our revenue growth with minimal risk, due to the low capital expenditures that the model offers. Management remains dedicated to capitalizing on the paradigm shift of Californians more closely managing their energy costs and the state's legislative environment which provides tax rebates, incentives and credits to support energy efficiency. We believe this is a significant step towards achieving our overall goal of increased earnings, augmented market share, and improved shareholder value."
GreenHouse Holdings offers a complete suite of products and services including Green Fiber Insulation, CoolWall Exterior Coating, state-of-the art solar applications, dual-pane windows, as well as residential, small industrial and governmental ethanol production and off-the-grid power solutions. Through its partnership with Allard Research and Development, GreenHouse Holdings carefully analyzes and tests its products before placing them on the market.
For more information, visit www.greenhouseintl.com or the GreenHouse YouTube channel at http://www.youtube.com/greenhouseintl.
About GreenHouse Holdings, Inc.
GreenHouse is a San Diego, California based global energy solutions and ethanol fuel provider. The company develops sustainable and eco-friendly infrastructure that can be rapidly deployed establishing the standard for delivering sustainable self-sufficiency to the world. Its three primary business segments—GreenHouse Builders, GreenHouse Energy and GreenHouse Community—address broad markets from homeowners and the building industry to corporations, governments, and Third World countries. GreenHouse offers consumers effective home improvement products that improve the environment and benefit homeowners financially through lower energy bills and reduced maintenance expenses. Energy production includes scalable ethanol refineries including the revolutionary at-home E-Fuel Microfueler™, the GridBuster (which combines with the MicroFueler to convert ethanol into electricity) to large-scale fleet operations. All ethanol is produced from non-corn based organic waste. For more information, please visit: www.greenhouseintl.com or the GreenHouse YouTube channel at http://www.youtube.com/greenhouseintl.
The GreenHouse Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7361
Forward Looking Statements
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by GreenHouse Holdings, Inc. are "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. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. 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. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.