With the recent misfortunes befallen the energy industry, some smaller firms in the sector are trying to burrow out from under by going the merger-and-acquisition route.
Thursday, California-based Pierre Corp. (OTC:PIRE) revealed it had acquired Colorado-based Fourth Wave Energy (FWE) of Colorado in an all-stock transaction.
FWE is a geo/solar climate change solutions company founded and managed by a team of leading Colorado and Silicon Valley alternative energy engineers, executives, and financial professionals.
The company has developed and plans to market the Fourth Wave Energy System, a comprehensive geo-solar building system that allows home and business owners to achieve zero carbon emissions without any utility bills.
PIRE shares climbed Thursday by 5.5 cents, or 37.9%, to 20 cents, on volume of 69,000 shares.