SOURCE: Sky Power Solutions Corp.

July 16, 2012 09:40 ET

Sky Power Solutions, (OTCBB: SPOW) a Step Closer to Global Commercialization

MOORESVILLE, NC--(Marketwire - Jul 16, 2012) - Sky Power Solutions Corp. (OTCBB: SPOW) ( announced today that further to recent pre-commercial testing of its solar concentrator, the company is now seeking to accelerate the completion of the commercial distribution agreement.

According to the company, a recent test on its proprietary solar concentrator demonstrated a major increase in efficiency that will generate electricity even with a 70% cloud coverage. This will make the unit the most affordable and efficient solar energy system on the market. The company will now seek to conclude the negotiation with component manufacturer, distribution licenses within major European markets as well as emerging market.

"Latest tests provided the results needed by the various distributors to complete agreements and guarantee sales level," said Mr. Charania, President of Sky Power Systems Corp. "The affordability of our product, its small, non-intrusive size and naturally its efficiency truly creates a product offering that has the opportunity to take over the market in a very short period of time," further added Mr. Charania.

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ.

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