|BCO Hydrocarbon To Acquire Sauer Energy|
CLYDE HILL, Wash.--(BUSINESS WIRE)--BCO Hydrocarbon Ltd. (OTCBB: BCOZ) (“BCO”), a natural resource exploration company, today announced it has entered into an agreement to acquire 100 percent of Sauer Energy, Inc.
Nevada City, California-based Sauer Energy (SEI) is a developmental stage company that designs and produces small, cost-effective wind turbine systems designed to be sold as a kit for roof mounting on an individual home or small building. Utilizing its advanced patented and proprietary technology, SEI’s vertical axis wind turbines (VAWT) are intended for the consumer and small to mid-size enterprise marketplace.
SEI wind turbines are designed to enable its customers to produce their own renewable energy at a low cost per kilowatt hour, save on their utility bills and help the environment. SEI is in the process of commercializing its VAWT product line for manufacturing and distribution into one of the fastest growing segments of the global energy marketplace.
Under the terms of the transaction, Mr. Sauer will contribute to the Company of all the shares of SEI and assign certain patent rights related to wind turbine technology held by Mr. Sauer to BCO and be elected to the BCO board of directors. The closing of the agreement is subject to the parties’ completion of their due diligence and the satisfaction of certain legal conditions.
Mr. Sauer remains SEI’s CEO. The Company will operate SEI as a wholly owned subsidiary and support its efforts to commercialize its patented VAWT technology for which it expects to raise additional growth capital.
About BCO Hydrocarbon Ltd.
BCO is a developmental stage natural resource exploration company that seeks to acquire, explore, and develop natural resource assets. It currently holds the right to acquire a 50 percent working interest in an oil and gas lease in Alberta, Canada, and is seeking additional oil and gas assets to increase its operations.