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Sky Power Solutions (OTCBB: SPOW) LOI Signed on R&D and Major Distribution License

Dec 3 2012 12:00AM

Marketwire

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MOORESVILLE, NC -- (Marketwire) -- 12/03/12 -- Sky Power Solutions Corp. (OTCBB: SPOW) (www.skypowersolutions.com), an emerging leader in the development and marketing of next generation lithium-powered batteries worldwide, and a leading developer of residential concentrated solar collector power systems able to produce in excess of 2 Kilowatts (kw) of electric power with ZERO emissions using Sun Light as the only fuel, is pleased to announce that further to PR dated July 17, 2012 Sky Power has entered into an Letter of Intent (LOI) for R&D and developing, distributing license in Canada.

According to the company, the distribution license will be for the territory of Canada where both the federal and provincial governments have implemented generous Initiatives. According to ClearSky Advisors, Inc. it is estimated that the private sector investment of solar PV in the province of Ontario in 2011 is 2 billion dollars. The electricity generation by one solar concentrator is enough to power a home and sell the excess to the grid for revenue back to the owner. The proprietary solar concentrator demonstrates a major increase in efficiency and will generate electricity even with up to 70% cloud coverage and therefore it is a favored device to be deployed in Canada.

FORWARD-LOOKING STATEMENT:
This press release may include 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. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ.



CONTACT INFORMATION:
About Sky Power Solutions: www.skypowersolutions.com
For further information: info@skypowersolutions.com
Headquartered in Mooresville, NC
Sky Power Solutions Corp.
Media Contact: pr@skypowersolutions.com
Investor Relations: ir@skypowersolutions.com





Source: Marketwire


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