Fidelis Acquires $35,000,000 Solar Technology Assets
December 02 2010 - 8:34AM
Marketwired
Fidelis Energy Inc. (PINKSHEETS: FDEI) announced today a 420%
increase in the value of its Assets with the signing of a
technology transfer and joint development agreement with Prism
Holdings, Ltd. ("PHL" -- a private company specializing in clean
energy technologies) to acquire and develop a select group of
proprietary technology Assets from PHL's portfolio.
The transaction is valued at $35,000,000, purchased through an
equity-building issuance of preferred stock and will create no debt
for the Company. This transaction is the first in a series of
anticipated acquisitions planned as a result of the joint
development acquisition within the framework of the Company's Solar
Energy Acquisition and Development Initiative.
"Fidelis' new strategic direction is exciting and should allow
us to attain significant growth," said James Poole, CEO and
President. "The solar energy industry is expected to grow at a
compounded annual growth rate of 55% and reach over $150 billion by
2015. Fidelis is strategically positioning itself to benefit from
this industry growth and add to shareholder value."
Shareholders and anyone interested in monitoring the progress of
the company are encouraged to subscribe to the electronic mailing
list at www.fidelisenergyinc.com.
About Fidelis Energy Inc. Fidelis Energy Inc. ("FDEI") is an
energy company focused on developing, constructing and operating
solar energy projects exclusively or in partnership with other
energy companies. Fidelis is also in the development stage of
designing solar photovoltaic (PV) cell technology products and
plans to manufacture and distribute these products in the future.
Fidelis owns a unique patent pending solar cell technology based on
photovoltaic cells with integral light-transmitting wave guides in
a ceramic sleeve. The advantage of this technology is the
efficiency of less exposed surface area being required to generate
electricity. The light-transmitting particles act as wave guides
and allow the sun-exposed conversion area of the solar cell to be
shifted readily from horizontal to vertical to capture more
sunlight. The ceramic sleeve eliminates the need for expensive
vacuum chambers, thereby allowing less expensive materials to be
used in solar cell production.
We are developing, with plans to eventually manufacture and
market, innovative solar cells and solar power products for a wide
range of applications based on our technology that increases
light-trapping while enabling a variety of materials to be used.
Our technology employs multiple stacked solar cells in a ceramic
sleeve that uses nano-particles and crystal wave guides to carry
light from the opening down to the last junction in the solar cell.
Competitors' processes that use vacuum chambers (instead of a
ceramic sleeve) generally don't allow for material substitution
because of contamination issues. We believe our technology will
also allow manufacturers to quickly and economically shift to new
materials if a shortage of any one type of material occurs. In
general, our technology will offer a flexible, cost-effective
solution for increased light-trapping and will provide increased
efficiency.
Forward-Looking Statements This news release contains
"forward-looking statements," as that term is defined in Section
27A of the Act and Section 21E of the Securities Exchange Act of
1934. Statements in this press release, which are not purely
historical, are forward-looking statements and include any
statements regarding beliefs, plans, expectations, or intentions
regarding the future.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
the development of an early stage company in the alternative energy
industry, its products, and the entry into new markets for such
products. These forward-looking statements are made as of the date
of this news release, and the Company assumes 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 the Company believes that the
beliefs, plans, expectations, and intentions contained in this
press release are reasonable, there can be no assurance those
beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consider all of the information set
forth herein and should also refer to the risk factors disclosed in
the Company's current and periodic reports filed from time to time
with the Securities and Exchange Commission.
Contact: Fidelis Energy Inc. Investor Relations 800-925-2381
info@fidelisenergyinc.com
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