Sunvault Energy Signs Power Utility Agreement with Woodland Cree Nation

KELOWNA, BC, Oct. 21, 2014 /PRNewswire/ - SUNVAULT ENERGY INC. (SVLT) ("Sunvault") ("the Company") (PINKSHEETS:SVLT) and Aboriginal Power Corp, (an exclusive Incubation Company of Sunvault Energy) ("APC") are pleased to announce that APC has signed a Memorandum of Respectful Understanding with the Woodland Cree First Nation to create a power Utility.

APC along with Northern Lights Energy & Power http://www.northernlightseap.ca and their new partnership Northern Lights Aboriginal Power Corp. ("NLAPC") is in the business of selling electricity as well as engineering, designing, procuring, constructing, operating and maintaining conventional energy and alternative energy projects including solar, wind, bio-mass and bio-gas co-generation and natural gas electricity generation.

APC will provide a Single Purpose Power utility for the purpose of purchasing electricity at competitive rates for the current and future needs of the Woodland Cree First Nation in the market at the best possible price through a combination of fixed term and spot market contracts. The agreement will move to a more definitive partnership agreement targeted for November 15^th , 2014.

"As a Single Purpose Power Utility, we intend to provide power at competitive prices and under bulk billing arrangements where additional savings can be had for those who reside or have businesses on Woodland Cree First Nation territory lands", stated Gary Monaghan, President and CEO of Sunvault Energy. "Businesses like Shell, Murphy Oil and many others operate on Woodland Cree First Nation's Lands and may very well be interested in the savings and relationship enhancements offered through the delivery of this power utility. Electricity supply to these potential customers and power generation projects where these customers can participate in additional savings is certainly front of mind", he continued,

"We are very pleased with our decision to look at a Single Purpose Power Utility and alternative energy generation for our community, this is consistent with our goal of becoming self-sufficient", stated Chief Isaac Laboucan-Avirom. "We look forward to working with APC to be able to generate electricity and supply power at very reasonable rates to our people and those businesses and residents who both reside and are stakeholders in our territory lands," he commented.

Sunvault will continue to seek out additional acquisition opportunities as they fit into the Company's mandate and growth plans.

About Sunvault Energy Inc:

Sunvault Energy Inc. is committed to bringing cost effective energy generation and energy storage to the solar 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 will facilitate into the owning of quality non-cyclical assets.

For more information, visit the Sunvault Energy website at http://www.sunvaultenergy.com/ and/or [email protected].

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.

Related Links

www.sunvaultenergy.com