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American Green Technology, Inc. Concludes Acquisition Of BDT Light Source, LLC


7/30/2012






SOUTH BEND, Ind. -- American Green Technology (AGT), a leader in the manufacture and import of "magnetic induction lights," has concluded its equity funding by raising an additional $900,000.

 

It will solidify AGT's already strong balance sheet, provide the capital necessary to sustain the planned growth for the next several quarters, as well as finalize the acquisition of BDT Light Source, LLC of Detroit, Mich.

 

"Because BDT is 'excellent' operationally, AGT and BDT will be able to integrate their

operations quickly which will give the combined companies the infrastructure to handle the sales growth which we are experiencing in this energy efficient lighting space," said Danny Bogar, chief executive officer of AGT.

 

"AGT is excited about concluding its financing and purchase of BDT, and looks forward to

the growth in business afforded by the increase in equity, bank financing, and the acquisition of BDT," Bogar added.

 

AGT has also concluded its bank financing with 1st Source Bank of South Bend, bringing its total financing available to $1.05 million.

 

AGT has also completed its purchase agreement with BDT Light Source, LLC by executing the final Membership Interest Purchase Agreement with the BDT members.

 

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About American Green Technology

American Green Technology (AGT), headquartered in South Bend, Indiana, is a leader in the manufacture and import of "magnetic induction lights," the most energy efficient mass lighting solution. With a lamp life of 100,000 hours, induction lights eliminate maintenance and reduce energy costs by 50% to 70%. Primary markets include municipal, industrial, and commercial lighting applications. For more information, visit www.agtus.org or call (269) 340-9975.

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