SOURCE: Salamon Group, Inc.

June 11, 2012 14:15 ET

Salamon Group, Inc. (SLMU) and DayStar Technologies, Inc. (DSTI) Agree to a 50/50 Joint Venture to Aquire Hawaii Solar PV Projects Generating $1,596,734 Over Next Ten Years

LAS VEGAS, NV--(Marketwire - Jun 11, 2012) - Sunlogics Power Fund Management Inc., a wholly owned subsidiary of Salamon Group (OTCQB: SLMU), and DayStar Technologies, Inc. (DSTI), a NASDAQ listed company, agreed today to form a joint venture to acquire from Avatar Solar, Inc. of California, seven currently operational and revenue producing solar projects in Hawaii. Gross revenues to Joint Venture are anticipated to be $1,596,734 over the next 10 years Additionally, Avatar has granted Sunlogics the right to enter into a joint venture with Avatar to develop solar PV systems in Hawaii, California, India and China. The rights have an upward potential of $20,000,000 (twenty million dollars).

"Hawaii is one of the largest green renewable energy producers in the United States. We are very proud of the opportunity to assist the State of Hawaii in its green renewable energy goal of reducing their dependence on fossil fuel generated electricity," stated Michael Matveishen, CEO of Salamon Group. He went on to comment that, "This project is just one of the many steps we are taking to achieve growth and value for our shareholders."

About DayStar Technologies, Inc. (DSTI)

DayStar Technologies, Inc. is a leader in CIGS thin film deposition technology for the development of solar photovoltaic products based on its technology. Information, visit the DayStar website,

About Salamon Group

Salamon Group, Inc., through its Sunlogics Power Fund Management Inc. division, is a solar energy project company specializing in the construction, management and acquisition of renewable energy power projects. Sunlogics Power also looks to acquire assets and other companies in the solar and renewable energy space that are a strategic fit. Sunlogics Power is also a project-acquiring partner of Sunlogics Plc and its Subsidiary as well as other third party project developers.

For further information contact, William J Nalley, Orsay Groupe, 305-515-8077 and/or send your email request to: Nos Falamos Portugues

SLMU cautions that statements made in press releases constitute forward-looking statements, and makes no guarantees of future performances and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time statements are made.

Contact Information

  • Contact:
    William J Nalley
    Orsay Groupe
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