SunVault Energy (SVLT) Files Application With ATCO Electric to Become a Power
ALLEN, TX -- (Marketwired) -- 10/25/13 -- SunVault Energy, Inc.
("SunVault" or the "Company") (OTCBB: SVLT) (OTCQB: SVLT), announced
today that it has applied to ATCO Electric to interconnect its
proposed generation unit to ATCO Electric's distribution systems. The
Company expects to construct a 500 kW (kilowatt) solar electric
generation unit with possible expansion to 1 MW (megawatt) within one
year. SunVault will be the sole operator and owner of the unit. The
Company has selected Daystar Technologies, Inc. to construct the
Once the unit is operational, the Company expects to generate
revenues of $115.00 per hour, based on average current market prices,
during those hours that the unit supplies electrical energy to the
power distribution grid. This translates to approximately $167,000
per year. If the unit is expanded to 1 MW, then expected revenues are
anticipated to increase to approximately $230 per hour during the
hours of electrical energy supply to the power distribution grid
based on average current market prices. The unit will have fully
active energy storage if it is increased to 1 MW.
"We continue to be optimistic that we will be able to generate stable
revenue from this type of unit in the Alberta, Canada market and by
participating in the Alberta energy system through interconnection to
the grid for the sale of power. We plan to use this unit as way to
test and develop our PolyCell(TM) and All-in-One(TM) technology
platforms. This unit will also provide us with real-world access,
data and a key-learning opportunity at the system/architectural
level," commented SunVault President and CEO John Crawford.
SunVault will continue to seek out additional opportunities as they
fit into the Company mandate and growth plans. Producing on-going
revenues while enabling the ability to develop and utilize the
Company's PolyCell(TM) energy storage, All-in-One(TM) and Vertical
Solar Appliance technology platforms within a real world operating
environment is anticipated to accelerate development and enhance
existing and future renewable project installations.
About Sunvault Energy:
SunVault Energy Inc. is committed to bringing cost effective
generation and energy storage to the solar industry through a
seamless, novel and simultaneous integration of energy generation and
storage at the molecular level.
This technical approach is a first and has the potential to enable
one of the lowest overall system cost structures while operating at
maximum efficiency. SunVault's objective is to then facilitate global
energy sales through a Distributed Utility business model built upon
and around the company's All-in-One(TM), PolyCell(TM) and Vertical
Solar Appliance technology platforms.
For further corporate information and Investor Relations, contact
Rich Kaiser -- (757) 306-6090 email@example.com, or visit the
SunVault website at: http://www.sunvaultenergy.com/.
This release includes forward-looking statements on current
expectations and projections about future events. In some cases
forward-looking statements can be identified by terminology such as
"may," "should," "potential," "continue," "expects," "anticipates,"
"intends," "plans," "believes," "estimates," and similar expressions.
These statements are based upon current beliefs, expectations and
assumptions and are subject to a number of risks and uncertainties,
many of which are difficult to predict and include statements
regarding the ability to raise required capital to cover costs of
constructing the proposed micro generation unit, ability to enter
into an agreement with Daystar Technologies relating to the
construction of the proposed unit, ability to lease or acquire the
land upon which the unit will be placed, the successful construction
of the unit, the approval of the application with ATCO Electric to
connect unit, once constructed, to their electric distribution
network, and our ability to enter into a power purchase agreement or
similar agreement with ATCO Electric regarding the sale of the
electricity that our proposed unit may generate in the future, and
developing other renewable energy projects and building SunVault
organization. These forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ
materially from those set forth or implied by any forward-looking
statements. The information in this release is provided only as of
the date of this release, and SunVault undertakes no obligation to
update any forward-looking statements contained in this release on
account of new information, future events, or otherwise, except as
required by law.
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