David Reed, president of Ceradyne's North American Operations, comments, "We are excited about this relatively small but high technology investment in GMSI. It fits very well with our diversification strategy, coupled with our interest in building out Ceradyne's advanced technical ceramics portfolio. Furthermore, the market for efficient, environmentally friendly LED lighting systems is expected to grow very rapidly over the next ten years."
Global Resource Energy Inc.'s President, Robert Baker, states, "This Letter of Intent for a 49% purchase of the Company's Exclusive North American Rights of the CLED Street Lights provides capital and additional resources for the Company's entry into the North American Market with LED Street lights."
Under the terms of the agreement Balon Bleu Holdings, a Nevada LLC, will pay an immediate deposit of $50,000 to the Company and $50,000 every month over the next five months for a total of $300,000 USD to earn a 49% assignment of interest for the North American Rights to the highly efficient CLED Street Lighting system.
Global Resource Energy Inc.'s President, Robert Baker, states, "This Letter of Intent for a 49% purchase of the Company's Exclusive North American Rights of the CLED Street Lights provides capital and additional resources for the Company's entry into the North American Market with LED Street lights."
Under the terms of the agreement Balon Bleu Holdings, a Nevada LLC, will pay an immediate deposit of $50,000 to the Company and $50,000 every month over the next five months for a total of $300,000 USD to earn a 49% assignment of interest for the North American Rights to the highly efficient CLED Street Lighting system.
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