SOURCE: Quantum Solar Power Corp.

May 09, 2011 09:05 ET

Quantum Solar Power Retains SgurrEnergy to Provide Advisory Services for Its Next Stage of Corporate Growth

SANTA FE, NM--(Marketwire - May 9, 2011) - Quantum Solar Power Corp. ("Quantum") (OTCBB: QSPW) has entered into a task order agreement with SgurrEnergy, Ltd. ("SgurrEnergy"). SgurrEnergy will provide expertise in the renewable energy industry to assist Quantum in its efforts to elevate its position within the solar energy industry.

Under the terms of the Agreement, SgurrEnergy has agreed to provide business advisory services to Quantum including, but not limited to, recruiting services to find directors, officers and potential manufacturing partners to engage Quantum. The Agreement is for a period of six months and effective as of May 2, 2011. In consideration for SgurrEnergy's business advisory services, Quantum will pay hourly rates ranging from CDN $84.56 to CDN $214.50 plus applicable expenses. Quantum has agreed to provide a down-payment of CDN $20,000 and to provide minimum retainer deposits of CDN $20,000 per month for each month the agreement is in effect. Quantum may cancel the agreement at any time.

Daryl Ehrmantraut, President and CEO of Quantum, stated, "SgurrEnergy is one of the industry leaders within the renewable energy sector to provide the advisory services Quantum needs to position us for future growth. If SgurrEnergy is successful in bringing experienced renewable energy management and board members into Quantum, it will help us execute the next stage in our corporate strategy. We are excited to partner with SgurrEnergy, as this will accelerate our path to commercial success by helping us bring in talented individuals. We look forward to working with them as we attempt to redefine the solar energy landscape."

Lawrence H. Mott, Principal Consultant at SgurrEnergy, added, "We are passionate about renewable energy and new technology and bringing our industry expertise to help Quantum execute the next stage in its strategy."

About Quantum Solar Power Corp.
Quantum Solar Power Corp. is developing a "Next Generation Device" (NGD™) photovoltaic technology. Quantum's NGD™ is a patent pending, laboratory model that utilizes a new approach to solar power conversion with the potential to remove the necessity of utilizing expensive silicon semiconductor-based technologies. We believe Quantum's NGD™ technology has the potential to match the efficiency of crystalline silicon PV at the cost of thin film PV. The anticipated NGD™ technology is free of any rare element dependencies found in other current solar technologies. We believe Quantum has the potential to create solar cells (through manufacturing partnerships) at significantly less cost per watt than current technologies. Quantum Solar Power has offices in the U.S. and Canada and can be found on the web at: www.quantumsp.com

About SgurrEnergy, Ltd.
SgurrEnergy, a Wood Group company, is a leading multi-disciplinary engineering consultancy specializing in renewable energy. SgurrEnergy has successfully provided expertise and experience of renewable energy in support of various projects in the field of solar photovoltaic (PV) energy. These projects have been either in direct support of the developers and owners, or on behalf of lenders and investors, and range from large power plant sized PV installations through to due diligence of operating and proposed module manufacturing facilities.

Forward-Looking Statements
This news release contains forward-looking statements regarding future events and Quantum's future results that are subject to the safe harbors created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act") and constitute "forward looking information" within the meaning of U.S. securities laws. These statements include statements about Quantum's planned technological development plan and are based on material factors and assumptions including Quantum's management's current expectations, estimates, forecasts, and projections about the industry in which Quantum operates and the beliefs and assumptions of Quantum's management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Quantum's future financial performance, Quantum's anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including the risk that Quantum's technological development plan may not be successful, and those risks identified in Quantum's Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2010. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Quantum undertakes no obligation to revise or update any forward-looking statements for any reason.

Contact Information

  • Contact:
    Erik Cathcart
    Media Relations Contact
    Quantum Solar Power Corp.
    media@quantumsp.com
    +1 (503) 310-9138