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home / news releases / BIT - Cleantech Power's latest CHP acquisition on path to create major pipeline of future projects

BIT - Cleantech Power's latest CHP acquisition on path to create major pipeline of future projects

BlackRock Multi-Sector Income Trust of Beneficial Interest

(NewsDirect)

Cleantech Power CEO Frank Carnevale joinsNatalie Stoberman from the Proactive newsroom to share its latestCombined Heat Power (CHP) assets and the impact this new acquisitionhas on the company's growth and achieving positive EBITDA.

Carnevale says the company is acquiring these assets worth over$12 million in two tranches and utilizing senior debt to reduce theequity required. Carnevale adds this acquisition is expected tocontribute approximately $1.5 million in earnings annually which couldaccelerate the company's goal of achieving positive EBITA in thecoming quarters along with growing a pipeline of $150 million worth ofCHP projects in the near future.

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Stock Information
Company Name: BlackRock Multi-Sector Income Trust of Beneficial Interest
Stock Symbol: BIT
Market: NYSE
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