P2 Solar, Inc.
OTC Bulletin Board : PTOS

P2 Solar, Inc.

May 11, 2011 09:30 ET

P2 Signs Strategic Agreement With Photonix, an India Based PV Module Manufacturer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 11, 2011) - P2 Solar, Inc. ("P2" or the "Company") (OTCBB:PTOS) is pleased to announce it has formed a strategic agreement with Pune, India, based Photonix Solar Private Limited, a solar PV module manufacturer.

P2 and Photonix have agreed to work together for the development of solar PV power projects in India. Photonix clients and its management's local network provide a great source of potential project investment opportunities, which will be developed jointly by the parties. P2 will also provide EPC services on an as-needed basis to Photonix clients.

Raj-Mohinder Gurm, CEO, commented, "The agreement with Photonix demonstrates the steady progress P2 is making in India. The agreement enables Photonix to provide a significantly more comprehensive selling proposition to solar PV project developers, as well as enabling Photonix to pursue its goal to expand into the power production business, while expanding P2's reach in India. We're very hopeful this partnership is going to open up many opportunities for the Company in project development as well as on other fronts. The Photonix team is highly professional and share our vision. The relationship is a good fit and we are looking forward to working with them on many projects."

The partnership between P2 and Photonix was a result of efforts by Mr. Bharat Vasandani, a solar energy consultant based in Mumbai, who has been assisting P2 for the past 6 months in identifying and developing solar projects in India. Both parties are continuing to develop more valuable opportunities.

About P2 Solar, Inc.:

P2 Solar, Inc., is a rapidly growing solar power company. Our core strategies are to (a) build megawatt scale solar PV projects, (b) invest in and develop highly innovative solar technologies and (c) exploit off-grid/small scale solar power opportunities. Our solar PV power project efforts are focused in India, North America and Europe, which include the world's fastest growing solar markets. P2 is also developing a promising new solar panel based on new technology acquired from the inventor. In off-grid/small-scale solar, P2 is pursuing investment opportunities with nascent manufacturers/distributors seeking a strategic investment partner.

For additional information please visit our website http://www.p2solar.com.

Get more P2 news on our blog http://p2solar.wordpress.com/ or follow us on Facebook http://www.facebook.com/p2solar or on twitter @p2solar.

About Photonix Solar Private Limited:

Photonix Solar Private Limited has a modern state-of-the-art automatic production line for PV modules at WAI MIDC, District Satara, located 250 km. South East of Mumbai. A full range of PV modules from 3Wp to 250Wp are manufactured for various on-grid and off-grid applications, and are exported to a number of countries globally. Photonix Solar has 10MW per annum of module manufacturing capacity which would be expanded to 100MW per annum by 2012. For more information please visit their website at http://www.photonixsolar.com

Safe Harbor Statement

Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the P2 Solar, Inc.'s reports filed with the Securities and Exchange Commission. P2 Solar, Inc. undertakes no duty to update these forward-looking statements.

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