Kender Energy Signs Indian Distributor
May 20 2010 - 8:00AM
Marketwired
Kender Energy Inc. (PINKSHEETS: KNDR) today announced that it has
signed a Distribution Agreement with NanoBright Solar Ltd of
Hyderabad, India.
NanoBright Solar Ltd (http://www.nanobrightsolar.com/) is a
solar infrastructure company serving the individual homes market,
as well as the solar water pumping industries. Kender Energy's
present distribution agreement pertains to the Andhra Pradesh
province, which encompasses the main cities of Hyderabad, Warangal,
Vijayawada, Visakhapatnam and Nellore. On July 2009, India unveiled
a $19 billion plan to produce 20 GW of solar power by 2020. Under
the plan, solar-powered equipment and applications would be
mandatory in all government buildings including hospitals and
hotels. In November 2009, it was reported that India is ready to
launch its Solar Mission under the National Action Plan on Climate
Change, with plans to generate 1,000 MW of power by 2013. The
amount of solar energy produced in India is merely 0.4% compared to
other energy resources. However, as of October 2009, India is
currently ranked number one along with the United States in terms
of installed Solar Power generation capacity. This indicates a
strong trend and growth rate, likely to extend into the future.
About Kender Energy Inc.: Kender Energy
Inc. is a development phase company active in the field of solar
energy. Its present prototypes of solar panels are being developed
into a full-scale solar energy production system. The particularity
of the Kender solar panel system and technology is to allow, via a
closed circuit of gas (usually helium), to create a heat exchange
with the sunlight and the air from the environment. The exchange
generates the spinning of the helium gas in the closed circuit,
propelling a turbine, which produces electricity in a 100% clean
and renewable process. The system's main advantages are that it is
efficient, cheap in production, and modular. The company is based
near Geneva, Switzerland. Its Website is www.kendersolar.com.
Safe Harbor Statement: All statements in
this news release that are other than statements of historical
facts are forward-looking statements, which contain our current
expectations about our future results. Forward-looking statements
involve numerous risks and uncertainties. We have attempted to
identify any forward-looking statements by using words such as
"anticipates," "believes," "could," "expects," "intends," "may,"
"should" and other similar expressions. Although we believe that
the expectations reflected in all of our forward-looking statements
are reasonable, we can give no assurance that such expectations
will prove to be correct. A number of factors may affect our future
results and may cause those results to differ materially from those
indicated in any forward-looking statements made by us or on our
behalf. Such factors include our limited operating history; our
need for significant capital to finance internal growth as well as
strategic acquisitions; our ability to attract and retain key
employees and strategic partners; our ability to achieve and
maintain profitability; fluctuations in the trading price and
volume of our stock; competition from other providers of similar
products and services; and other unanticipated future events and
conditions.
For more info. contact: Kender Energy Inc. Sean Kelly President
+(41) 22 700 7648 investors@kenderenergy.com
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