SOURCE: Solar Acquisition Corp.

March 01, 2010 09:00 ET

Solar Acquisition Corp. Announces Agreement With Power-Save Energy

ANN ARBOR, MI--(Marketwire - March 1, 2010) - Solar Acquisition Corp. (OTCBB: SLRX) is pleased to announce an agreement to form a joint venture with Power-Save Energy (OTCBB: PWSV) to offer solar products and services to the retail market.

Under the proposed joint venture, SA and Power Save will offer products and services to individual users in the U.S. market. Power-Save currently markets its solar panels directly to the end user through a national network. Solar Acquisition expects to develop additional opportunities as a result of its anticipated activities in the commercial and municipal markets. Power Save's expertise in the retail sector will allow SA to monetize these opportunities faster and more efficiently.

Solar Acquisition recently announced letters of intent to acquire assets of three entities: Clean Power, Solar Teyin, S.A. and Hyundai Heavy Industries Iberica, S.A.

The companies expect to conclude the operating agreement within sixty days.

ABOUT SOLAR ACQUISITION CORP.
SOLAR ACQUISITION CORP. is focused on commercializing renewable energy technology. The scope of SLRX's interest include Solar PV, Wind, Fuel Cell, and Geothermal in addition to research and development into innovative renewable energy solutions. Currently SLRX is in the process of developing a portfolio of intellectual assets, patents and companies.

About Power-Save Energy Co.
Power-Save Energy Company (http://www.power-save.com) is a marketing and manufacturing company focused on becoming the premier retailer of renewable energy and energy savings products in the United States. The company is dedicated to the mass-market sale of energy saving products and now renewable energy products direct to the homeowner and small business. The company not only provides both quality tested and certified products direct to the consumer, but also provides them at prices affordable to everyone. Power-Save Intends to 'Make Renewable Do-able!'

SAFE HARBOR
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "soon," "anticipates," "plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties including the ability of the company to conclude any negotiations and close the transactions discussed, raise the necessary funds if needed to reach a closing, the ability of Power-Save to develop a meaningful business from any of its activities, form any subsidiaries, sell additional alternative energy products at a profit, or develop any business from those subsidiaries. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. Reference is made to the Company's filings with the Securities and Exchange Commission for a more complete discussion.

Contact Information

  • Contact:
    SOLAR ACQUISITION CORP.
    734-320-7628

    Power-Save
    1-866-297-7192