OAKHURST, Calif., Aug. 6, 2003 — VOLT Inc. announced that it has purchased all the outstanding shares of Wolverine Power Corp. for cash and preferred stock.
The major assets included in the Michigan utility are the hydro-electric turbines which generate over 10 megawatts of power, the Federal Energy Regulatory Commission (FERC) License and the Power Purchase Agreement (PPA) with Consumers Energy which runs through the year 2022.
Historical revenue from the PPA is approximately $1 Million dollars anuually. Additional information about the company is available at www.voltinc.com.
VOLT INC. is a power provider and marketer of alternative energy and financial services.