Monogram Energy Inc., a diversified commercial energy company, has signed a non-exclusive letter of intent to acquire US Green Energy Inc. of Irvine, Calif. Once completed, this acquisition will allow Monogram Energy to enter into the manufacturing, marketing and sales of solar-based residential and commercial products and systems, along with additional alternative energy-based projects, the company says.
Monogram Energy will begin work and development on solar projects through US Green Energy's Southern California facilities, effective immediately. This transaction is subject to continued due diligence and board approval, and it has a 90-day closing period. Monogram Energy will be acquiring 100% of the stock issued and outstanding of US Green Energy Inc.
SOURCE: Monogram Energy