http://www.transactenergy.com/ () —
TransAct Energy Corp. (OTCBB: TEGY) today announced that it will form a 50/50 joint venture with the principals of Sparkomax Productions, the patent holders and developers of the Square One Solar (SOS) technology. The intent of the joint venture is to set up production of custom solar products such as solar chargers, solar water purifiers etc. for military and other government clients.
Using the SOS technology in this manner gives immediate value to the technology as it will generate quick revenue and prove the flexibility and functionality of the technology.
"Although we are focused on sustainable power generation projects, with solar power being part of that matrix we see the opportunity to put the solar technology to work immediately on a smaller scale as a real positive step," says TransAct's CEO Rod Bartlett. "Having the technology being used in a portable manner for power charging demonstrates how robust we believe this technology is. Getting to revenue quickly is ideal for our current and future shareholders."
About Sparkomax Productions
Sparkomax Productions is the holder/developer of the proprietary solar technology that Square One Solar intends to make its PV panel manufacturing technology from.
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 (http://www.transactenergy.com) .
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.