IX Energy Holdings, Inc.: IX Energy Signs Teaming Agreement With Legatus6

Published in Stocks and Investing on Wednesday, February 18th 2009 at 7:51 GMT, Last Modified on 2009-02-18 07:53:22 by Market Wire
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NEW YORK, NY--(Marketwire - February 18, 2009) - IX Energy Holdings, Inc. (OTCBB: [ IXEH ]) ("IX Energy"), a company engaged in the development and financing of solar power and other renewable energy solutions, today announced that it has entered into a Teaming Agreement with Legatus6 to provide turnkey renewable energy solutions to federal agencies seeking to comply with mandates set forth in the Energy Policy Act of 2005 ("EPACT").

Under the agreement, IX Energy and Legatus6 will assist government agencies in the development and operation of on-site renewable energy including solar, geothermal, daylighting, solar thermal and biomass power generation. Legatus6 will manage sub-contracting relationships and ongoing operations and maintenance on all IX Energy contracts.

Steve Hoffman, CEO of IX Energy, said, "We are pleased to be working with an established federal contracting firm like Legatus6, whose executives have a history of success in working with some of the country's largest agencies and government contractor firms. This agreement adds enormous value to our federal programs. Working with Legatus6, we can more effectively leverage our expertise in renewable energy, business development, design, engineering, installation and project management to provide a compelling and turnkey renewable energy solutions platform to the federal agency sector."

EPACT establishes statutory goals to expand the federal supply of renewable energy by 7.5% by 2013, and Executive Order 13423 requires agencies to reduce energy consumption per square foot by 3% per year or 30% by 2015, with mandates that at least half of renewable power comes from "new" renewable sources that have come on line since 1999. With an electricity bill of more than $3.5 billion and a real estate portfolio of about 500,000 buildings and facilities, EPACT and Executive Order 13423, both of which encourage on-site renewable power, will have a significant impact.

Robert Bowe, CEO of Legatus6, said, "We're looking forward to working with IX Energy to develop turnkey renewable energy solutions to help federal agencies meet their mandated targets." Bowe added that, "What is exciting about this strategic relationship with IX Energy is not just the value of this business arrangement to us as a company, but that it is also about saving our customers money as they meet their energy needs today and in the future in an environmentally desirable way. I've never liked the term 'leading edge,' mainly because it is usually 90% hype, but, in this case, it's true. As seasoned government and federal agency consultants and service providers, we are out in front working with IX Energy, Inc. to develop and deliver turnkey renewable energy projects to our federal customers."

About Legatus6

Legatus6, founded in 2007, is a Service Disabled Veteran Owned Small Business (SDVOSB) providing professional services including program management, intelligence support, information technology, logistics, base operations, and staffing to the federal government. Bob Bowe, and his partner and President of Legatus6, John McCann, both have extensive executive experience in industry. Bob Bowe has over 28 years on active duty in the U.S. Army where, among other senior officer assignments, he has had command responsibility for the operation of large facilities, the type now being mandated to achieve energy savings as described above. Past and current clients include the U.S. Army, Department of Homeland Security, National Geospatial-Intelligence Agency, National Institutes of Health, various Defense activities, and the Nuclear Regulatory Commission. For more information about Legatus6 go to [ www.legatus6.com ].

About IX Energy Holdings, Inc.

Founded in 2006, IX Energy, Inc., the wholly owned subsidiary of IX Energy Holdings, Inc. is a renewable energy services company engaged in the design, marketing and development of solar power systems and other renewable energy solutions to federal and civilian agencies. IX Energy, Inc. was recently acquired by IX Energy Holdings, Inc. f/k/a Yoo, Inc. pursuant to an Agreement and Plan of Merger and Reorganization dated December 30, 2008. Additional information about the merger and IX Energy can be found on IX Energy Holdings, Inc.'s current report on Form 8-K as filed with the SEC on January 6, 2009.

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements with the terms "believes," "belief," "expects," "intends," "anticipates," "will" or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.