SOURCE: Solar Acquisition Corp.

January 04, 2011 10:05 ET

Solar Acquisition Corp. Announces Asset Acquisition, Continues Expansion of Business Focus

ANN ARBOR, MI--(Marketwire - January 4, 2011) - Solar Acquisition Corp. (OTCBB: SLRX) is pleased to announce that it has finalized the acquisition of the assets of Clean Power, Inc.

Included among the assets are Clean Power's extensive propriety research, business development plans for building a diversified renewable energy company, and information related to building turnkey energy systems in the solar and wind farm businesses.

As part of the acquisition, Solar Acquisition is also acquiring first negotiating rights on the future acquisition of designs for a proprietary solar lighting system and assets for the development of solid oxide fuel cells.

"The acquisition of these assets, and the knowledge that comes along with them, is the next step in expanding our business focus from the solar power sector to renewable energy overall, and will lay the foundation for developing Solar Acquisition Corp. into a diversified renewable energy company in the coming year. I'm very excited to be acquiring these assets as part of our diversification strategy," said Bruce Levy, a member of Solar Acquisition's board of directors.

Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties include the ability to integrate the acquired assets, the ability to execute its diversification strategy, changes in the alternative energy industry, market developments, the ability of the company to raise capital and others which are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectation.

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