HENDERSON, Nev., Jan. 4, 2012 (GLOBE NEWSWIRE) -- Blue Earth, Inc. (OTCBB:BBLU) announced the appointment of Philip J. Kranenburg, CPA to the position of chief financial officer (CFO). As CFO Kranenburg will oversee Blue Earth's financial growth as the Company continues to expand its presence in the multi-billion dollar energy efficiency services and renewable energy sectors of the clean tech industry. He has extensive experience in finance, operations and corporate governance and has been heavily involved in energy companies and projects for the past 8 years. He is managing director of the Kranenburg Financial Group with 30 years experience in technology and finance and expertise as a "hands-on" corporate manager and venture capitalist.
"Phil has a strong track record of helping to achieve and effectively manage financial growth for major corporations in the energy space and his experience will help to ensure that Blue Earth expands our business aggressively and intelligently," said Dr. Johnny Thomas, CEO of Blue Earth. "His expertise in negotiating new projects, securing and structuring financial and operational transactions in the energy services sectors will be of great benefit to Blue Earth."
At TerraCycle, an eco-conscious waste management company, Phil was Chairman of the Board of Directors, Member of the Finance Committee and Governance Committee and oversaw an increase in revenues from $1 million to $6.7 million in two years – 2011 revenues were $15 million. At Hydrogen Corporation (HYDG), Kranenburg was a board member and audit committee member, which raised $25 million in funding to implement Westinghouse's $150 million fuel cell phosphoric acid technology to "supply heat and electricity from (proposed) fuel cell plants" to potential customers, including electricity providers and chemical plants through direct sales and through a strategic relationship with Samsung.
At Gemplus, (a multi-billion company), he managed product lines which generated $100 million in revenues. At Xcert International, Phil increased revenues significantly, leading to the sale of the company to RSA Security (currently EMC Corporation) for $67 million. At Framdrive, a solid state disc drive company, he raised the seed capital and developed its patent portfolio as CEO/CFO.
At Shearson Lehman (currently Morgan Stanley Smith Barney), he managed extensive portfolios for diverse clientele. While at Price Waterhouse, he was engaged in audit and consulting projects with clients such as Hewlett Packard, Raychem and Fairchild Semiconductor. Phil earned a BA at Stanford University. He earned his CPA while at Price Waterhouse.
"Phil's impressive background in finance, corporate governance and the energy business makes him an outstanding addition to the senior leadership team. The Board and the entire Blue Earth team, look forward to his future contribution to the Company and its shareholders as the Chief Financial Officer," stated Laird Q. Cagan, Chairman of Blue Earth, Inc.
Phil is also a College of Marin Trustee and is past vice chair of the Marin Economic Commission. As a member of the board of trustees of the College of Marin, he was instrumental in raising a $249.5 million bond offering and in implementing a LEED-based modernization of the two campuses, which is nearing completion and includes two geothermal heat exchanger systems, a solar thermal system for the pool and a 210 kilowatts solar covered parking lot. As Chairman of the Board, Kranenburg received the Pioneer Award from Green Technology, a non-profit initiative designed to inform government efforts toward sustainability.
Phil recently participated in developing a proposal for a 40MW solar system in response to the Marin Clean Energy Authority RFP. He partnered with a leading solar manufacturer in offering a $100 million+ proposed project and partnered with an EPC firm for a 1MW and 5MW RFP response. He also developed policy recommendations for the superintendent to implement sustainable schools in California through energy efficiency and alternative energy implementations. He is a California Schools of the Future Committee Member for State Schools Superintendent Tom Torkalson.
"I am excited to join the executive team at Blue Earth," stated Phil Kranenburg, Chief Financial Officer. "Blue Earth's investment in acquiring established energy service companies provides an excellent platform for rapid growth and makes the Company an ideal choice for organizations of all types that are implementing clean energy strategies to achieve cost savings and sustainability initiatives."
About BBLU
BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency and renewable energy sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and substantially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit www.blueearthinc.com.
Forward Looking Statements
This press release contains 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. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons, even if new information becomes available in the future. Actual results could differ materially from those anticipated in these forward-looking statements.