AIP has been researching and developing a pump storage project which will be located near Phoenix in the US state of Arizona.
Green Planet president and CEO Edmond Lonergan said this acquisition brings renewable energy technology into the company which in the future will substantially increase shareholder value.
According to Green Planet, pump storage is a renewable energy source which is always available to generate power unlike the intermittent problems that plague solar and wind systems.
Green Planet is engaged in the production and distribution of fuel-based energy conservation and clean-air products.
