LadyBug Resource Group's "Solar Tracer" to use Concentrating Solar Thermal Power Technology
21 Luglio 2010 - 2:00PM
LadyBug Resource Group (OTCBB:LBRG) announced today that its
subsidiary, New Solar Electricity Corporation, is developing a
novel solar concentrator called "Solar Tracer," which will use
concentrating solar power technology to capture energy from the sun
and transfer it in the form of heat to run steam turbine
generators. The company believes that its Solar Tracer will exceed
the performance of the current generation of linear concentrator
systems.
Christian Tedrow, President of New Solar, said, "Solar thermal
is a method of collecting and concentrating sunlight by utilizing
specially designed structures that capture and reflect sunlight
onto attached 'collection tubes.' These tubes are filled with fluid
that is heated by the reflected sunlight. The fluid is heated
up to 300C above ambient temperature and flows to a facility
attached to the solar field where its energy is used to produce
steam, which drives conventional steam turbine generators to
produce electricity. Solar thermal is the most widely used
system of solar power generation in the world today. The goal of
all such systems is to reduce the cost per watt of the electricity,
which depends on the efficiency, the total system cost, and
maintenance cost of the project. We believe "Solar Tracer" will
have an impact on all three of these factors."
Mr. Tedrow went on to say that the first stage of their
development agreement with Eugene Augustin and his company,
Wireless Engineering Corp., is well underway. "I believe we
are making excellent and timely progress in our stage one
reflective surface and coating tests. It is a detailed
scientific process, which involves temperature gauging on the
various coated surfaces to determine which combination of coatings
and surfaces produce the highest temperature. In order to
utilize the widest useful spectrum of sunlight intensity, the tests
are being conducted throughout the day, from early morning to late
afternoon."
Tedrow concluded his remarks by adding, "New Solar selected
Eugene Augustin and his company, Wireless Engineering Corp. to
develop and design "Solar Tracer," because of his outstanding
success record in designing technological breakthrough products for
the U.S. Navy, Hughes, Comtech, NATO, the government of Taiwan, and
many others. He is one of the world's foremost experts in the
design of Microwave Antennas, components and satellite systems, and
has the knowledge and expertise to build a 'next generation' solar
collector technology that has the potential to revolutionize the
industry."
About New Solar Electricity Corporation:
New Solar Electricity Corporation, headquartered in Orlando,
Florida, is an alternative energy company seeking to capitalize on
the growing multi-billion dollar global solar market through the
development of a novel cost solar concentrator that saves
manufacturing costs while increasing the power generated.
(www.NewSolarEC.com)
About LadyBug Resource Group, Inc.
LadyBug Resource Group Inc. (OTCBB:LBRG), headquartered in
Kirkland, WA, acquires and licenses breakthrough technologies,
patents, patents-pending and trade secrets in the Energy, Health
and Intellectual Property sectors. The Company is focusing on
the Chinese and American markets for license sales and joint
ventures. Wholly owned subsidiaries of the LadyBug Resource
Group (www.LadybugRG.com) include, New Solar Electricity
Corporation (www.NewSolarEC.com) and Inner Path Health Corporation.
(www.InnerPathHealth.com)
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains 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)
regarding us and our business, financial condition, results of
operations and prospects. Forward-looking statements in this report
reflect the good faith judgment of our management and the
statements are based on facts and factors as we currently know
them. Forward- looking statements are subject to risks and
uncertainties and actual results and outcomes may differ materially
from the results and outcomes discussed in the forward-looking
statements. Readers are urged not to place undue reliance on these
forward-looking statements which speak only as of the date of this
press release. We undertake no obligation to revise or update any
forward- looking statements in order to reflect any event or
circumstance that may arise after the date of the press release.
Political and operational risks in the countries in which LadyBug
Resource Group Inc. may operate and governmental regulation and
judicial outcomes, and other risks detailed from time to time in
LadyBug's filings with the Securities and Exchange Commission,
including its Quarterly Report on Form 10-Q for the quarter ended
March 31, 2009. Copies of each filing may be obtained from the
S.E.C. or its web site at www.sec.gov.
CONTACT: CenterPoint Communications Group, LLC
Investor Relations
Todd Lorenze
386-775-2020
info@centerpointcg.com
www.centerpointcg.com
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