$PVDG PVDG’s Renewable Energy Mission Heats Up with Acquisition of Revolutionary Solar Oven-Maker
Press Release | 07/24/2019
BELMONT, NC July 24, 2019 Poverty Dignified, Inc. (OTCQB: PVDG) (Poverty Dignified or the Company), a renewable energy company incubating solar technologies that establish electrification, education, connectivity and community development infrastructures in rural communities across the globe to empower the individual, community and local economy, announced on July 16, 2019 that it reached a definitive agreement to acquire Sun Ovens International, Inc. as part of the companys continuing mission to grow indigenous micro-businesses in developing countries.
With Sun Ovens International, Inc. becoming a wholly owned subsidiary of Poverty Dignified, Inc., the Company will now be able to set up locally owned micro-businesses to distribute Sun Ovens innovative solar ovens in Africa and other struggling rural communities in the Third World. These solar ovens could mitigate poverty and have a powerful impact in helping the environment by reducing global deforesting and desertification problems.
Our acquisition of Sun Ovens International is a key foundational step in setting our strategic growth-by-acquisition business model in motion, explains Matthew Alpeter, Poverty Dignifieds CEO. It also strengthens our ability to fulfill Poverty Dignifieds ongoing global mission to be a social impact catalyst. We do this by encouraging and promoting the use of clean energy solutions that create sustainable economic development in rural communities, especially those that empower women.
Currently the people in many resource-poor countries cut down trees for firewood and charcoal, lacking any other fuel source for cooking or heating water. This has led to deforestation, which in turn quickly transitions to environmental problems as rain washes away valuable topsoil for farming. The result is often hunger and malnutrition as the local population can no longer grow enough food. If the situation goes on long enough, once fertile land can eventually become desert.
Sun Ovens International Incs low-cost, easy-to-use solar ovens harness the power of free and clean sunlight to cook family meals and boil water for drinking. These efficient ovens can cut a Third World familys use of fuelwood and charcoal by up to 70 percent. This not only can improve their quality of life, but also help preserve vanishing forests and prevent desertification.
Paul Munsen, former president of Sun Ovens International Inc., will stay on in a business development position. Munsen has taken part in numerous solar cooking projects across the world and taught local populations solar cooking techniques on five continents. He has also addressed the United Nations Commission on Sustainable Development in New York.
Munsen is upbeat about the mergers potential to expand both companies capabilities. For the past 21 years Sun Ovens International has taken a private-sector approach to solving problems most often addressed by governments and nonprofit organizations. I see a real synergy in Sun Ovens International and Poverty Dignified joining together to empower women in rural communities in the developing world while helping the environment.
In addition to this acquisition, Poverty Dignified, Inc. has also appointed Forrest Garvin as subsidiary, Sun Ovens Internationals new CEO, effective immediately.
Forrest Garvin brings extensive experience as an entrepreneurial leader, Alpeter says. Forrest has led several diverse companies in the past and successfully launched new business models in complex market environments. Hes committed to a unique and customer-focused leadership approach that cultivates and inspires unity, value, and structure. Were excited to have him as part of our growing team.
Garvin is upbeat about the positive possibilities of his new role. I feel blessed to work with a company like Sun Ovens to impact real change domestically and across the globe. Ive known Paul Munsen for many years and am honored to take the mantel from him. Hes done a phenomenal job in building Sun Ovens International into a best-of-breed solar cooking brand over the past 22 years. Im excited about introducing a new generation of users to the Sun Oven in both domestic and international markets. Ive used the Sun Oven cooker myself for years, so I know its potential to benefit the environment and alter peoples lives for the better.
NOTICE REGARDING FORWARD LOOKING STATEMENTS
This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements that include the words believes, expects, anticipate or similar expressions. Such forward-looking statements involve known and unknown risks, and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyones past success is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Poverty Dignified, Inc.