LadyBug Resource Group Acquires 37% of New Solar Electricity Corporation
April 13 2010 - 4:47PM
LadyBug Resource Group Inc. (OTCBB:LBRG) announced today it has
acquired 37% of New Solar Electricity Corporation. As a result of
the transaction, the Company will be entering one of the fastest
growing global markets for alternative energy.
LadyBug anticipates that the solar energy market will continue
to rapidly expand with increased industry and government focused
efforts to fast-track the development of renewable energy. The
global solar energy market is set to reach $50-$70 billion by
2014. Acquiring a minority interest in New Solar Electricity
Corporation is the beginning of the Company's push to acquire and
license solar, wind and alternative fuel systems, companies and
patents.
New Solar's proprietary breakthrough technology, which is
estimated to cut the 30-year total cost of concentrator by 80% to
90% and thereby reduce total CSP investment cost by approximately
50%, will give New Solar immediate growth opportunities in funded
and future projects to license their cost-saving
technology. LadyBug believes that the synergies between the
contacts, experience and market expertise both companies bring to
the partnership, will allow for increased market reach, sales,
license opportunities and overall to increase LadyBug Resource
Group shareholder value.
About New Solar Electricity Corporation:
New Solar Electricity Corporation is an alternative energy
company capitalizing on the growing multi-billion dollar global
solar market through its novel and extremely low cost solar
concentrator. New Solar is uniquely situated in offering
an installation design that significantly reduces the lifetime cost
of solar concentrator construction and maintenance. Dr. Jason Yu,
New Solar founder and patent developer, is a scientist focused on
renewable energy products and technologies, including New Solar
Electricity Corporation's concentrator and solar energy system. Dr.
Yu conducted research and development at the U.S. Department of
Energy's Argonne Laboratory while at the same time obtained his
Ph.D. in Intermediate Energy Physics from Northwestern University,
USA in 1993. Dr. Yu has more than twelve years Research and
Development experience with renewable energy and energy physics,
and nine years as the CEO and CTO for commercial enterprises.
For more information go to: www.NewSolarec.com
About LadyBug Resource Group Inc:
LadyBug Resource Group Inc. acquires and licenses breakthrough
technologies, patents, patents-pending and trade secrets in the
Energy, Health and Intellectual Property sectors. The Company
works through a network of strategic contacts and consultants on a
project-needed basis, seeking to leverage out-sourced talent in
cost-effective ways to bring to market their products, patents,
technologies and intellectual capital. The Company's focus for
2010-2011 is on licensed joint ventures in the United States and
China.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains forward-looking
statements (within the meaning of Section 27a of the Securities Act
of 1933 and Section 21e of the Securities Exchange Act of 1934)
regarding us and our business, financial condition, results of
operations and prospects. Forward-looking statements in this report
reflect the good faith judgment of our management and the
statements are based on facts and factors as we currently know
them. Forward- looking statements are subject to risks and
uncertainties and actual results and outcomes may differ materially
from the results and outcomes discussed in the forward-looking
statements. Readers are urged not to place undue reliance on these
forward-looking statements which speak only as of the date of this
press release. We undertake no obligation to revise or update any
forward- looking statements in order to reflect any event or
circumstance that may arise after the date of the press release.
Political and operational risks in the countries in which LadyBug
Resource Group Inc. may operate and governmental regulation and
judicial outcomes, and other risks detailed from time to time in
LadyBug's filings with the Securities and Exchange Commission,
including its Quarterly Report on Form 10-Q for the quarter ended
March 31, 2009. Copies of each filing may be obtained from the
S.E.C. or its web site at www.sec.gov.
CONTACT: LadyBug Resource Group Inc.
Karen Aalders
(407) 207-0400
Fax: (407) 207-0434
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