SOURCE: Kender Energy Inc.

May 21, 2010 08:00 ET

Kender Energy Applies for Solar Energy Subsidies & Grants

GENEVA--(Marketwire - May 21, 2010) -  Kender Energy Inc. (PINKSHEETS: KNDR) today announced that it has initiated the request for subsidies and grants with several governmental, universities and private programs for the rollout of its technology in the USA and other countries.

The technology of Kender Energy is now sufficiently advanced for applying and receiving government grants for solar projects. These advances have triggered a first application by Kender Energy for a grant under the California Solar Initiative.

The California Solar Initiative or CSI (http://www.calsolarresearch.ca.gov/) has a goal to create 3,000 MW of new, solar-produced electricity by 2016, moving the state toward a cleaner energy future and helping lower the cost of solar systems for consumers. The CSI statewide budget is $3.3 billion over 10 years. The following areas are of particular interest to the CSI: Testing and demonstration of new solar technologies with improved performance/reliability or lower costs. A total of up to $15 million worth of grants for early stage projects is expected to be available under this program.

Kender Energy also anticipates that the subsidies in the State of California will become more frequent for solar and wind projects, as Gov. Arnold Schwarzenegger on Monday withdrew his support of a plan to expand oil drilling off the California coast, citing the massive oil spill that resulted from a drilling rig explosion in the Gulf of Mexico.

Other solar subsidies will be sought, in the US and in Europe in the coming weeks and months.

About Kender Energy Inc.:
Kender Energy Inc. is a development phase company active in the field of solar energy. Its present prototypes of solar panels are being developed into a full-scale solar energy production system. The particularity of the Kender solar panel system and technology is to allow, via a closed circuit of gas (usually helium), to create a heat exchange with the sunlight and the air from the environment. The exchange generates the spinning of the helium gas in the closed circuit, propelling a turbine, which produces electricity in a 100% clean and renewable process. The system's main advantages are that it is efficient, cheap in production, and modular. The company is based near Geneva, Switzerland. Its Website is www.kendersolar.com.

Safe Harbor Statement:
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

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