KELOWNA, BC, Oct. 22, 2014 /PRNewswire/ -
To the Shareholders of Sunvault Energy;
Sunvault Energy has continued on the course of diversifying its assets while expanding its operations and potential during a very long and protracted audit. With the acquisition of CleanGen Inc. and its various companies, Sunvault has taken on the task of bringing these formerly privately held companies up to public company standards for accounting purposes while conducting a full audit of these companies so that the Super 8K ,Q1, Q2 and soon to be Q3 can be filed successfully.
The decision to acquire these companies have produced much required revenue during these periods and current revenues are continuing to build, so although the audit has been significant, we expect that we should be concluded shortly. The mandate to augment the company's significant technology with non cyclical revenue that is unaffected by traditional market shifts is appealing to the company. So we all look forward to having the quarters filed and that part of our acquisition history behind us.
Progressively moving forward on the technology development end, Sunvault has entered into an agreement with Nanotech Energy Inc, a Los Angeles Technology company through the signing of a Memorandum of Understanding. Nanotech and Sunvault will develop the NANOTECH ENERGY GRAPHINE energy storage device that is closer to battery than a super capacitor that will be integrated into SUNVAULT SOLAR CELL TECHNOLOGY and other products; the result of this will allow us to be delivering a compelling product to market within the next calendar year. The relationship with Nanotech significantly reduces the time frame for Sunvault's Solar Storage "ALL IN ONE" reality to become a deliverable to the market in a much reduced time frame. The product will be jointly designed at UCLA with both companies driving its course to finish. This is a very exciting development for our shareholders. The NANOTECH ENERGY GRAPHINE SUPERCAPACITOR will store a greater amount of energy in a more dense space adding a significant step forward to our bio-cell storage, assisting Sunvault in delivering a solar generation and storage product that is more of an apparatus than a typical solar construction project, using a smaller footprint to create more energy in smaller spaces, changing the face of green sustainable energy for the future.
Sunvault has also through its incubation company Aboriginal Power Corp ("APC") concluded its agreement and closed the deal to the create joint venture company, Northern Lights Aboriginal Power Corp ('NLAPC"). Our first project will be a solar project placed on the North Parkland Power building in Thorhild, Alberta. Full funding is in place for this installation. The joint venture company's mandate is to go after 10,000 acres of Aboriginal lands for solar generation and storage, the Company has been working on the first 1000 acres thus far. Northern Lights Aboriginal Power Corp will make a full scale push forward to develop community solar power projects in Alberta. The Company's unique ability as a utility provider includes the capability to deliver power to any individual homeowner or business located in Alberta. To this end, Sunvault has added to its management team, industry veteran Mr. Lonne Culhane, former Western Regional Manager of Sales for Direct Energy. Lonne is to assist in the marketing and sales direction going forward. Sunvault Energy has signed its first agreement to create a joint venture with Woodland Cree First Nation for a utility business within their territory.
Correction to earlier comment about Stealth Ventures :
Sunvault has acquired secured debt of Canadian Gas Company, Stealth Ventures Inc. (TSX.V – SLV). As a result of the acquisition and assumption of the secured debt, Sunvault has the ability to get a controlling position in Stealth Ventures Inc. We have appointed Mark Lorne Roseborough as President of the company and Governor Bill Richardson has joined the board of directors.
Stealth Ventures owns approximately 124 Natural Gas wells in Alberta. One of the unique opportunities Sunvault has determined is the depressed commodity price of natural gas and has come up with an answer to is by looking at generation equipment and our relationship as a utility provider and thereby our ability to supply power from the Stealth Ventures gas directly to the grid. Our access to the grid is a real opportunity to create significant multiple in the value from the gas going forward by converting the gas into a peak power commodity market in Alberta.
Natural Gas as a commodity can be multiplied in revenue opportunity approximately up to 6 times the price value of the original gas commodity when taken to a peak power commodity.
The approach serves our mandate for power generation and supply very well. The Company has started to have discussions with landowners to open up some wells that were closed to move this vision forward. Gas production in Stealth Ventures Inc. could begin this quarter.
Joint Venture negotiations with other Canadian First Nations are going well and we expect that a couple of these relationships will get to revenue in late 2014.
As the company continues to develop its significant technology, our activities have been deliberate. To create a solid foundation from which to operate from, build strength in the form of revenue creation, to maximize the efficiencies and operating capabilities within the various operating entities and to continue to look for growth opportunities that will benefit our shareholders.
President & CEO
Sunvault Energy Inc.
SOURCE Sunvault Energy Inc.