Mass Megawatts Announces Non-Dilutive Spinoff
January 02 2015 - 8:08AM
InvestorsHub NewsWire
WORCESTER,
Mass. - January 2, 2015 - InvestorsHub NewsWire - Mass
Megawatts Wind Power Inc.,
(OTCQB:
MMMW) announces the spinoff of shares into a private
investment company with
the
goal of being a public entity for the specific purpose
of allowing new investment project owners
the maximum
benefit from the new solar tracker technology. At the same time,
Mass Megawatts will be
able to to
produce and market the
patent pending solar tracker. The spinoff will be
non-dilutive to Mass Megawatts, and is
targeted
for stock issuance to Mass Megawatts shareholders of record
in the Spring of 2015.
Mass
Megawatts is expected to received approximately thirty
percent of the shares from the
solar project investment company in exchange for a limited
territory licensing agreement of solar
tracker
technology
for the use of projects with photovoltaic or solar cell technology
applications. The
agreement allows the shareholders of Mass Megawatts to benefit from
the growth of the solar energy
industry, while potentially earning Mass Megawatts lucrative
licensing fees.
The patent pending, Mass Megawatts 'Solar-Power
Tracking System' (STS) is a complete solar-power
system designed to automatically adjust the
position of its solar panels throughout the day to receive
an
optimal level of direct sunlight.
Unlike other solar tracking technologies, the Mass Megawatts
STS
utilizes a low-cost structure that adds
stability to the overall system while improving energy
production
levels up to 28% and only adding less than 10%
to the cost of the project.
This press release
contains forward-looking statements that could be affected by risks
and
uncertainties, including but not limited to Mass
Megawatts Wind Power, Inc's. ability to
produce
a
cost-effective product. Among the factors that could cause actual
events to differ materially from
those
indicated herein are: the failure of Mass Megawatts Wind
Power, Inc. to achieve or maintain
necessary
zoning approvals with respect to the location of its
power developments; the ability to
remain
competitive; to finance the marketing and sales of its electricity;
general economic
conditions; and other risk factors
detailed in periodic reports filed by Mass Megawatts Wind Power,
Inc.
Contact
Information
www.massmegawatts.com
info@massmegawatts.com
(508)
751-5432
Mass Megawatts Wind Power (PK) (USOTC:MMMW)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mass Megawatts Wind Power (PK) (USOTC:MMMW)
Historical Stock Chart
From Apr 2023 to Apr 2024