KELOWNA, BRITISH COLUMBIA -- (Marketwired) -- 08/22/14 --
SUNVAULT ENERGY INC. (PINKSHEETS: SVLT) ("Sunvault") ("the Company") through Aboriginal Power Corp, (an exclusive Incubation Company of Sunvault Energy) ("APC") is pleased to announce that it has invested in the senior secured convertible debt position of Stealth Ventures Inc ("Stealth") (TSX VENTURE: SLV).
Stealth Ventures Inc. is a Calgary-based junior oil and gas company whose expertise and focus is on gas reserves from shale gas, CBM, and tight sand reservoirs. Stealth owns 124 wells throughout Alberta. Recently Sunvault through APC announced its purchase of gas well interests and its plans of taking natural gas and using it for power generation. Sunvault Energy President & CEO Gary Monaghan was quoted earlier this month stating, "We are enthusiastic about the power generating economics surrounding natural gas wells instead of using pipeline distribution where pricing make margins very slim. At certain peak power positions, converting natural gas to electricity can multiply revenue up to six to eight times for the natural gas. Natural gas conversion generation equipment is readily available for these purposes," he continued.
Sunvault anticipates that the obtaining of the senior secured convertible debt position in Stealth will accelerate the Company plans for development of this market sector. Some of the Stealth owned wells are planned to be converted from traditional delivery into power generated by APC which will create a higher priced Clean Electrical power pricing metric. Sunvault management believes its recent efforts in becoming the secured convertible debt holder in the TSX traded SLV, will prove to be a strategic move in the long term.
It is estimated that Stealth will increase its revenues in partnership with Aboriginal Power Corp, by utilizing clean power generating from its gas resource into peak power production. The current resource could generate clean natural gas power which is enough power for 40,000 homes in Alberta.
APC with its partnership Northern Lights Aboriginal Power Corp. is in the business of engineering, procuring, constructing, operating and maintaining clean energy and alternative energy projects including solar, wind, bio-mass, bio-gas co-generation and now natural gas electricity generation.
The newly formed Northern Lights Aboriginal Power Corp LP mandate is to provide/sell electricity and choices to Aboriginal Groups (First Nations) including non-aboriginal businesses within their various territories across the country. This service will reduce power pricing and increase the value proposition for Aboriginal Groups and their business partners. Northern Lights Aboriginal Power Corp LP has expansion plans that will see it move beyond First Nation's lands to other areas such as non-aboriginal municipalities as well as commercial and industrial users in urban centers across all sectors.
Sunvault will continue to seek out additional acquisition opportunities as they fit into the Company's mandate and growth plans.
About Sunvault Energy Inc:
Sunvault Energy Inc. is committed to bringing cost effective energy generation and energy storage to the solar industry through a seamless and novel integration of energy generation and storage. This technical approach is a first and has the potential to enable the lowest overall system cost at maximum efficiency. Sunvault has further diversified by acquiring companies or assets that are immediately accretive and that will facilitate into the owning of quality non-cyclical assets.
For more information, visit the Sunvault Energy website at http://www.sunvaultenergy.com/ and/or email@example.com.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that working with Universities will expedite Sunvault technology into real world applications, the ability to reduce the required footprint and cost associated to traditional solar energy generation, collection and storage, or that the technology has the potential to revolutionize how solar energy is generated, stored and utilized.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic conditions, our ability to achieve the expected benefits from the development agreement. These forward-looking statements are made as of the date of this news release, and we assume 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 we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Sunvault Energy Inc.Gary Monaghan
Source: Sunvault Energy Inc.