Sunvault Energy Announces Purchase of Eco-West Transport
31 Marzo 2014 - 4:23PM
Marketwired
Sunvault Energy Announces Purchase of Eco-West Transport
BELLINGHAM, WASHINGTON--(Marketwired - Mar 31, 2014) - SUNVAULT
ENERGY INC. (OTCQB:SVLT) ("Sunvault") ("the Company") is pleased to
announce the purchase of 100% of Eco-West Transport Inc. SunVault
sees this transaction as a value add operation to CleanGen of
Alberta.
SunVault's board of directors
ratified the transaction on Saturday March 29th, 2014. The purchase
of 100% of Eco-West Transport is being completed through a share
issuance of 3,333,334 Sunvault Energy shares for 100% of Eco-West
Transport.
Each year CleanGen pays out
approximately $1.5 Million in transportation costs. Approximately
1/3 of this is spent directly with Eco-West Transport. "Through
this acquisition the company will increase revenue and increase
transport shipments through its new subsidiary, rather than hiring
third parties" stated Gary Monaghan, President & CEO of
Sunvault Energy. "We plan to pursue additional acquisition
opportunities that will be accretive and beneficial to our business
growth" he further clarified, Sunvault Energy Inc. has made this
acquisition to support the CleanGen group of companies and to
create new opportunities for further roll-up/acquisition of
businesses.
SunVault intends to continue
to increase its ability to affect and maximize revenue through its
various supply chain acquisitions.
About CleanGen Inc:
CleanGen Inc. (CGI) is
developing and acquiring assets to create a group of companies that
will specialize in utility infrastructure and environmental
solutions.
The Company is deploying a
renewable and green business strategy for its current and future
business opportunities.
CleanGen is building
Aboriginal business partnerships that recognize the cultural
attributes of these relationships. These businesses create
sustainable management, employment and training skills, as well as
investment, and revenue sharing opportunities for our Aboriginal
business partners.
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 that are immediately accretive
and that will facilitate it into the owning of quality non-
cyclical assets.
For more information, visit
the Sunvault Energy website at http://www.sunvaultenergy.com/
and/or question@sunvaultenergy.com.
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.
Sunvault Energy Inc.Gary
Monaghan1-778-478-9530question@sunvaultenergy.comwww.sunvaultenergy.com
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