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Sky Power Solutions (OTCBB: SPOW) LOI Signed on R&D and Major Distribution License
By: Marketwire .
Dec. 3, 2012 09:30 AM
MOORESVILLE, NC -- (Marketwire) -- 12/03/12 -- Sky Power Solutions Corp. (OTCBB: SPOW) (www.skypowersolutions.com), an emerging leader in the development and marketing of next generation lithium-powered batteries worldwide, and a leading developer of residential concentrated solar collector power systems able to produce in excess of 2 Kilowatts (kw) of electric power with ZERO emissions using Sun Light as the only fuel, is pleased to announce that further to PR dated July 17, 2012 Sky Power has entered into an Letter of Intent (LOI) for R&D and developing, distributing license in Canada.
According to the company, the distribution license will be for the territory of Canada where both the federal and provincial governments have implemented generous Initiatives. According to ClearSky Advisors, Inc. it is estimated that the private sector investment of solar PV in the province of Ontario in 2011 is 2 billion dollars. The electricity generation by one solar concentrator is enough to power a home and sell the excess to the grid for revenue back to the owner. The proprietary solar concentrator demonstrates a major increase in efficiency and will generate electricity even with up to 70% cloud coverage and therefore it is a favored device to be deployed in Canada.
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