SOURCE: Solar Acquisition Corp.

February 05, 2010 09:49 ET

Solar Acquisition Announces Plans to Acquire Assets of Clean Power, Inc.

ANN ARBOR, MI--(Marketwire - February 5, 2010) - Solar Acquisition Corp. (OTCBB: SLRX) today announced that it has entered into a letter of intent to acquire assets of Clean Power, Inc. (CleanPower), a Florida corporation. Clean Power is engaged in the development of turnkey solutions for renewable energy projects for municipalities and local governments in the United States.

Solar Acquisition expects that the consideration for the acquisition will be paid in restricted stock and cash. The letter of intent is not a final contract, and is subject to due diligence prior to any closing of a definitive final agreement.

ABOUT SOLAR ACQUISITION CORP.

SOLAR ACQUISITION CORP. is engaged in the sourcing and distribution of solar panels and accessories in the United States. Building on the distribution model, SLRX expects to provide turnkey services to our customers, including the design, procurement, installation, grid connection, monitoring, and maintenance for solar energy systems.

SAFE HARBOR

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes,""soon,""anticipates,""plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties including the ability of the company to conclude any negotiations and close the transaction, raise the necessary funds to reach a closing, the ability of Clean Power to develop a meaningful business, form any subsidiaries, sell additional solar or wind products at a profit, or develop any business from those subsidiaries. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. Reference is made to the Company's filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.

Contact Information

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    Solar Acquisition Corp.
    734-320-7628