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 Sunlight as the only fuel, is pleased to announce that further to PR dated December 3, 2012, Sky Power has finalized and both parties have signed the Agreement for R&D and distributing license in Canada.
Sky Power confirms the distribution license will be for the territory of Canada where 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.
FORWARD LOOKING STATEMENT:
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company’s current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ.