SOURCE: TransAct Energy Corp.

TransAct Energy Corp.

November 19, 2010 06:00 ET

TransAct Energy Update on India

SAN ANTONIO, TX--(Marketwire - November 19, 2010) - TransAct Energy Corp. (OTCBB: TEGY) today updated its status with respect to geothermal, solar and fuel cell technologies it has secured for the Indian market. For the past year the company has been developing relationships and sales channels in India to facilitate future business.

To date our business development team has had dialogue with current or future license holders for solar farms in India. We are now quoting to supply 90 w solar modules for several projects with the view to pre-sell the first year's production of the company's proposed solar manufacturing facility in India.

Our fuel cell technology, Altergy Systems "Freedom Power™"  is being introduced to the major players in the telecom tower sector in India. This technology was designed to provide backup/uninterrupted power for the telecom industry and is a perfect fit for the Indian market. The fuel cells use hydrogen to produce electricity and have water as a byproduct.

To address the reliable supply of hydrogen, particularly outside regular delivery areas, portable hydrogen generators can be incorporated. We are working to secure the right hydrogen technology for the "Freedom Power™" fuel cell so we can provide a standalone base power source. This will have far reaching applications in the clean energy sector throughout India.

The high temperature geothermal opportunities in India are more far term in their scope. Discussions to date have focused around existing policy and meetings are pending with the Ministry of Energy. Low temperature geothermal opportunities abound in India as the technology's awareness increases. We have been invited to quote several projects.

About TransAct Energy Corp.

TransAct Energy Corp. is a Texas-based company. Our business is the development, production, management and conservation of electricity through sustainable electricity projects. Our focus is energy produced from geothermal, solar and municipal waste. Our power conservation technologies are centered on technology innovations including hydrogen fuel cells and low temperature geothermal. Please visit www.transactenergy.com.

Forward-Looking Statements

The foregoing news release includes numerous forward-looking statements concerning the company's business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited "safe harbor" for certain forward-looking statements. Forward-looking statements in this news release relating to product development, business prospects and development of a commercial market for technological advances are based on the company's current expectations. The company's current expectations are subject to all of the uncertainties and risks customarily associated with new business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.

Contact Information

  • CONTACT INFORMATION:
    Rod Bartlett
    President & CEO
    (702) 715-2001
    Email Contact