LAKE ELSINORE, CA--(Marketwired - May 9, 2013) - IDS Solar Technologies, Inc. (OTCQB: IDST) announced the approval by the Board of Directors last week of an investment of up to $400,000 by CEO and Chairman, Bruce Knoblich. Mr. Knoblich provided $183,000 in funding on February 28 and demonstrated his confidence in the Company by providing an additional $100,000 this past Friday, May 3.
The proceeds will fund the advancement of the Company's proprietary battery management system development, enable an increase in the portable renewable generator inventory, and supply general working capital.
"The demand for local energy independence is driving the need for storage related products, thus providing us with a huge opportunity to profitably and sustainably deploy our storage focused technical and marketing capabilities. We're working tirelessly to launch our initial novel and proprietary smart storage management products in the coming weeks. These will have features and functions that simply do not exist in the market today," stated Mr. Knoblich. "We are in numerous discussions for immediate revenue producing deployment of our prototypes into commercial and residential grid-tied applications."
About IDS Solar Technologies, Inc.
IDS Solar Technologies is a GIIRS-rated, developer, designer, manufacturer and seller of portable, renewable electric generators for use by consumers, industry, government and emergency management relief worldwide. Advantages of renewable over fossil-fuel portable power include lower operational cost, superior reliability, greater sustainability and expanded utility due to zero exhaust and quiet operation. The Company is also developing a line of specialized battery management and control electronics for lithium iron phosphate batteries.
Forward-looking & Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.