PALM SPRINGS, California, March 2, 2017 /PRNewswire/ --
Solaris Power Cells, Inc., the creators of the Solaris PESA™ or "Passive Electron Storage Array"™, (SPCL) (the "Company") has retained a leading technology valuation firm, AAS Associates. AAS is being retained for the purpose of reviewing and placing a valuation on the Solaris PESA technology, to assist the company in a potential divestiture, joint venture or licensing agreement.
"We are very pleased to announce that Mr. Schibanoff and his firm have agreed to help us evaluate the technology and help us to determine the value of our technology in today's growing energy storage marketplace. PESA is a unique Energy Storage alternative to traditional power sources, for commercial and high-end residential applications," states Solaris CEO/President, Neil Kleinman.
"The current market for power storage is growing exponentially as net metering from solar and wind power is making the challenge of balancing power generation and power demand greater than ever. The applications for Solaris's technology could extend beyond electric utilities to include net metering clients, solar and wind farms, and industrial, commercial and residential applications. With a potential valuation in the $30-40 million range, we are eager to complete our evaluation," said Alec Schibanoff, Managing Director of AAS Associates.
About AAS Associates
Founded in 1990, AAS Associates designs and implements programs and initiatives for its clients that increase their sales, improve their profits and grow their businesses. The firm's founder, Alec Schibanoff, is a widely published author and popular speaker. Mr. Schibanoff writes a regular feature on the latest emerging technologies for Electric Power & Light magazine's Executive Insights Newsletter.
Solaris Power Cells, Inc. (SPCL) is a developmental stage diversified 'green' energy storage manufacturer, offering residential and commercial users, turnkey, renewable energy storage solutions. Solaris manufactures the Solaris PESA™ or "Passive Electron Storage Array"™ for limited-use electric vehicles such as golf cars. The Solaris PESA™ is a 100% lead-free, solid-state storage solution that makes renewable energy greener and better, by allowing applications to utilize more of the energy generated. The Solaris Power Cell™ is capable of providing energy storage to applications normally reliant and equipped with highly toxic lead acid, nickel metal hydride or lithium-ion batteries.
Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Forward-looking statements in this release include that we are about to manufacture our products, we can compete in the energy storage business, and our products will provide an energy storage solution to industry. The Company's products involve detailed proprietary and engineering knowledge and specific customer adoption criteria, hence factors that could cause actual results to be materially different include that we may be unsuccessful in raising any additional capital needs that may arise; we may not have sufficient capital to develop, produce and deliver orders; orders that are placed may be cancelled; product may not perform as well as expected; markets may not develop as quickly as anticipated or at all; or that the productive capacity of the company may not be large enough to handle market demand. Further, we are reliant on certain key employees who may leave the Company and we may be unable to protect or defend our intellectual property. Investors are cautioned against placing undue reliance on forward-looking statements. Refer to all public filings and risk factors included in the 8-K, 10-Q and 10-K as filed with the SEC.
PESA, Passive Electron Storage Array and Solaris Power Cell are trademarks of Solaris Power Cells, Inc.
SOURCE Solaris Power Cells, Inc.