KELOWNA, BC, April 14, 2015 /PRNewswire/ - SUNVAULT ENERGY INC. ("Sunvault") ("the Company") (SVLT) announced today that it has signed a binding letter of intent with the Edison Power Company (Edison), a Delaware Corporation, to retail power within de-regulated power markets. The first market as part of the roll out strategy concentration will be the Alberta market followed by other similar markets and markets that have time of use pricing.
"The Edison name resonates well with consumers across North America" stated Gary Monaghan, Chief Executive Officer of Sunvault Energy." "Introducing Edison Power to the Alberta community will begin the process of introducing our Graphene Supercapacitor Power Storage Technology into the area of Grid stabilization as well as establishing the Edison Power Company brand to the Alberta consumer.
Sunvault will work through its incubation company, Aboriginal Power Corp for power sales within First Nations territories under the direction of Sunvault President, Trent Blind.
The company is working closely with Edison to launch a new power retail program that will be unique in its approach and will benefit Alberta consumers far beyond what competitors have been able to offer these consumers.
"Clean and green energy combined with our Graphene Supercapacitor technology will be a first for Alberta and a launching pad for similar opportunities in other areas" commented Sunvault President Trent Blind. " Unlike marketing techniques offered by companies such as Bullfrog Power – with messages summarized as - " We cost more but we are Green" our plans are to cost less than existing market providers while offering the same kind of Green benefit to our consumers" he added.
Sunvault plans to utilize its technology development and come back to its customer base that will be created through the Edison power sales to further enhance consumers' lives with lower priced power technology. The stand up solar appliance combined with its graphene super capacitor technology will result in the ability for a home owner to get off the power grid entirely through the combination of technologies starting with solar generation and the graphene supercapacitor that would store the generated energy. The graphene super capacitor unlike lithium and other batteries is carbon based and does not pose a threat of harmful elements being installed into homes.
The Company believes its Solar appliance device plans far surpasses the "roof full of solar panel approach" for ease of entry and removes the barrier to entry that potentially resides in most consumers' minds; because of the construction project approach they currently face for deployed solar.
The ability to fast charge devices with pseudo/Supercapacitor units versus a slower energy charge and release of lithium Ion batteries will impact the smart phone, electric car, power grid stabilization and home off the grid markets. In layman terms - A smart phone that will be charged in under a minute and an electric car can both be powered by the graphene pseudo/supercapacitor that can fast charge more rapidly than any battery and effectively last a life time, will significantly change the landscape of the future. In every decade there is some breakthrough technology that will significantly impact the world and its future, Sunvault believes for "this decade that breakthrough is graphene and all of its potential uses".
About Sunvault Energy Inc.
Sunvault Energy Inc. is committed to bringing cost effective energy generation and energy storage to the solar and energy industry through a seamless and novel integration of energy generation and storage. This technical approach is a first and has the potential to enable the lowest overall system cost at maximum efficiency. SunVault has further diversified by acquiring companies or assets that are immediately accretive and that facilitate the owning of quality non-cyclical assets.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that working with Universities will expedite Sunvault technology into real world applications, the ability to reduce the required footprint and cost associated to traditional solar energy generation, collection and storage, or that the technology has the potential to revolutionize how solar energy is generated, stored and utilized.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic conditions, our ability to achieve the expected benefits from the development agreement. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE Sunvault Energy Inc.