Green Energy Live, a company engaged in developing biomass-to-energy conversion technology, has said that it is continuing to move forward with its acquisition of Peck Electric, a provider of electrical contracting services. The company has updated its letter of intent (LOI) to acquire 100% of the stock in Peck Electric.

The prior LOI to acquire Peck contemplated that the purchase would be closed by April 25, 2010. The updated (new) letter contemplates closing of the purchase by June 15, 2010.

Karen Clark, president and CEO of Green Energy Live, said: “Green Energy Live chose Peck Electric for its excellent management team, extensive systems design and development expertise, ongoing revenue and exciting new clean energy product development.

“Upon closing of the acquisition we look forward to helping Peck achieve continued growth and expanded market penetration. Peck Electric brings several critical components to Green Energy Live that will allow us to offer clean energy solutions in the marketplace.”

The LOI is not a binding agreement; the transaction is contingent upon the satisfactory completion of due diligence and the company’s ability to obtain new capital on favorable terms. The transaction may not be completed and the anticipated closing date may be extended if certain terms and conditions are not met.