LadyBug Resource Group's Subsidiary, New Solar Electricity Corporation, Signs Agreement for Development of "Solar Tracer"
July 14 2010 - 8:00AM
New Solar Electricity Corporation, a wholly owned subsidiary of
LadyBug Resource Group (OTCBB:LBRG), announced today that it has
signed an agreement with Eugene Augustin of Wireless Engineering
Corp. to accelerate the development of its improved solar
concentrator, to be called "Solar Tracer." The goal is to
develop for worldwide license and sale an efficient solar
concentrator which can be manufactured at a substantially lower
cost.
Christian Tedrow, President of New Solar, said, "We chose to
work with Eugene Augustin and his company, Wireless Engineering
Corp., because of his outstanding success record in designing
technological breakthrough products for the U.S. Navy, Hughes,
Comtech, NATO, the government of Taiwan and many others. They
have all sought the technology expertise of Eugene Augustin, one of
the world's foremost experts in the design of Microwave Antennas,
components and satellite systems."
Tedrow went on to say, "Mr. Augustin's antenna designs are in
current production and used on virtually every ship in the U.S.
Navy. His antennas and rotary joints are on more than 2,000
Freedom Fighter aircraft. He designed the Coastal Defense
Radar System for Taiwan, the satellite TVRO systems for Hughes,
Comtech and Boman. We are confident that we have chosen the
right design engineer to bring "Solar Tracer" successfully to
market."
The New Solar plan to develop the next generation of solar
concentrator, to be called "Solar Tracer," is a staged development
wherein the results of a stage will determine the path for the next
stage. The Company anticipates changes to the work plan as the
development is pursued and tested. At the end of the process,
the Company plans on having a tested "Solar Tracer" patent-pending
product, with a "White Paper" for presentation to Industry
groups. It is anticipated that full-scale manufacturing will
be done in China.
About New Solar Electricity Corporation
New Solar Electricity Corporation, headquartered in Orlando,
Florida, is an alternative energy company seeking to capitalize on
the growing multi-billion dollar global solar market through the
development of a novel cost solar concentrator that saves
manufacturing costs while increasing the power generated.
(www.NewSolarEC.com)
About LadyBug Resource Group, Inc.
LadyBug Resource Group Inc. (OTCBB:LBRG), headquartered in
Kirkland, WA, acquires and licenses breakthrough technologies,
patents, patents-pending and trade secrets in the Energy, Health
and Intellectual Property sectors. The Company is focusing on
the Chinese and American markets for license sales and joint
ventures. Wholly owned subsidiaries of the LadyBug Resource
Group (www.LadybugRG.com) include, New Solar Electricity
Corporation (www.NewSolarEC.com) and Inner Path Health Corporation
(www.InnerPathHealth.com)
"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: CenterPoint Communications Group, LLC
Investor Relations
Todd Lorenze
T386-775-2020
info@centerpointcg.com
www.centerpointcg.com
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