SOURCE: SunVault Energy, Inc.
ALLEN, TX--(Marketwired - Oct 25, 2013) - SunVault Energy, Inc. ("SunVault" or the "Company") (OTCBB: SVLT) (OTCQB: SVLT), announced today that it has applied to ATCO Electric to interconnect its proposed generation unit to ATCO Electric's distribution systems. The Company expects to construct a 500 kW (kilowatt) solar electric generation unit with possible expansion to 1 MW (megawatt) within one year. SunVault will be the sole operator and owner of the unit. The Company has selected Daystar Technologies, Inc. to construct the unit.
Once the unit is operational, the Company expects to generate revenues of $115.00 per hour, based on average current market prices, during those hours that the unit supplies electrical energy to the power distribution grid. This translates to approximately $167,000 per year. If the unit is expanded to 1 MW, then expected revenues are anticipated to increase to approximately $230 per hour during the hours of electrical energy supply to the power distribution grid based on average current market prices. The unit will have fully active energy storage if it is increased to 1 MW.
"We continue to be optimistic that we will be able to generate stable revenue from this type of unit in the Alberta, Canada market and by participating in the Alberta energy system through interconnection to the grid for the sale of power. We plan to use this unit as way to test and develop our PolyCell™ and All-in-One™ technology platforms. This unit will also provide us with real-world access, data and a key-learning opportunity at the system/architectural level," commented SunVault President and CEO John Crawford.
SunVault will continue to seek out additional opportunities as they fit into the Company mandate and growth plans. Producing on-going revenues while enabling the ability to develop and utilize the Company's PolyCell™ energy storage, All-in-One™ and Vertical Solar Appliance technology platforms within a real world operating environment is anticipated to accelerate development and enhance existing and future renewable project installations.
About Sunvault Energy:
SunVault Energy Inc. is committed to bringing cost effective generation and energy storage to the solar industry through a seamless, novel and simultaneous integration of energy generation and storage at the molecular level.
This technical approach is a first and has the potential to enable one of the lowest overall system cost structures while operating at maximum efficiency. SunVault's objective is to then facilitate global energy sales through a Distributed Utility business model built upon and around the company's All-in-One™, PolyCell™ and Vertical Solar Appliance technology platforms.
For further corporate information and Investor Relations, contact Rich Kaiser -- (757) 306-6090 email@example.com, or visit the SunVault website at: http://www.sunvaultenergy.com/.
This release includes forward-looking statements on current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding the ability to raise required capital to cover costs of constructing the proposed micro generation unit, ability to enter into an agreement with Daystar Technologies relating to the construction of the proposed unit, ability to lease or acquire the land upon which the unit will be placed, the successful construction of the unit, the approval of the application with ATCO Electric to connect unit, once constructed, to their electric distribution network, and our ability to enter into a power purchase agreement or similar agreement with ATCO Electric regarding the sale of the electricity that our proposed unit may generate in the future, and developing other renewable energy projects and building SunVault organization. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. The information in this release is provided only as of the date of this release, and SunVault undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.