SAN DIEGO, CA -- (Marketwire) -- 08/09/11 -- GreenHouse Holdings, Inc. (OTCBB: GRHU) ('GreenHouse'), a San Diego, California-based integrated energy solutions provider and developer of eco-friendly infrastructure, today announced that the Company believes its current product offerings can benefit from the legislated cost cutting efforts in the Defense budget. The Company is poised to financially benefit from the Department of Defense's focus on energy saving products and rapidly deployable structures, both of which GreenHouse can offer to the DOD to provide significant cost cutting opportunities compared to the more traditional alternatives the DOD is currently utilizing.
'Fossil fuel is the No. 1 thing we import to Afghanistan, and guarding that fuel is keeping the troops from doing what they were sent there to do...' Quoted Ray Mabus, Secretary of the Navy. The secretary went on to say that he intends to see that 50% of the power for the Navy and Marines comes from renewable energy sources by the year 2020, as outlined in the Strategic Sustainability Performance Plan.
The Company believes the DOD shifting from brick and mortar construction to more rapidly deployable modular energy efficient buildings, like the Rapidly Deployable Unit (RDU) and mandating a push towards energy efficiency in the Strategic Sustainability Performance Plan will drive business directly to them. Overall, the company believes the drive to cut overhead and redundancies in the Department of Defense can be a catalyst for further growth for their government contracting and energy business.
Mr. Mabus continued: 'The Strategic Sustainability Performance Plan is the DOD's Department-wide strategy that lays out its goals and performance expectations for the next decade, establishing the path by which DOD will serve as a model of sustainability for the nation. The Department envisions that the primary path to reaching its sustainability goals will be to reduce its reliance on fossil fuels through energy efficiency and renewable energy. If not addressed the costs can be measured in lost dollars, in reduced mission effectiveness, and in U.S. soldiers' lives.'
CEO John Galt stated, 'We believe the legislation passed uniquely positions GreenHouse to help our country lower spending by offering cost effective solutions across a number of Defense verticals. The importance of the shift towards sustainability carries a much larger significance than just reducing budgets, it will save lives on the battlefield.'
GreenHouse Holdings was awarded a $150 million facility construction contract by a private entity to build various training facilities in Central Florida in June. As this facility continues towards completion, the Company believes the cost saving variables it offers to the DOD will be on display for potential future contracts.
There is also precedent to support GreenHouse's optimistic outlook on the affect of government spending cuts. Back in 2010 spending cuts by the UK government had a surprising affect on the sustainable construction industry. UK Green Building Council survey showed the 'normal' building industry had suffered but the sustainable building sector had grown as a result of the cuts.
About GreenHouse Holdings, Inc.
GreenHouse Holdings is a leading provider of energy efficiency and sustainable facilities solutions. The company designs, engineers and installs disparate products and technologies that enable its clients to reduce their energy costs and carbon footprint. Its target markets for energy efficiency solutions include government and military, as well as commercial, residential and industrial markets. In addition, the company develops, designs and constructs rapidly deployable, sustainable facilities primarily for use in disaster relief and security in austere regions. For more information, please visit: www.greenhouseintl.com or the GreenHouse YouTube channel at http://www.youtube.com/greenhouseintl or follow GreenHouse on Twitter @greenhouseintl.
Cautionary Statement Regarding 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.
GreenHouse Holdings, Inc. Contacts:
Alliance Advisors, LLC
Rubenstein Public Relations
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