Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Principal Solar, Inc. Announces Public Trading of Its Common Stock (PSWWD.pk)

05/25/2011 | 12:55pm US/Eastern

Principal Solar, Inc (PSI), a renewable energy holding company which concentrates its resources on rapidly advancing the inevitable, worldwide utilization of solar energy through a unique roll-up strategy, today announced the public trading of its common stock. The Company is quoted on the Over-The-Counter (OTC) Electronic Pink Sheets (NQB) under the symbol PSWWD.pk, which transitions to PSWW on June 23, 2011.

"By acquiring best-in-class solar companies, PSI will establish itself as the world's leading provider of solar energy -- the most promising, price-competitive, and abundant clean energy source for the future," says Michael Gorton, chief executive officer and chairman of PSI, noting that in the near term the cost of photovoltaic (PV) solar power will compete with and actually be lower than traditional sources of energy created by fossil fuels. "Timing for this launch is ideal, given the nod on solar energy from Capitol Hill, the accelerating solar market and the vote of confidence from front-line investors. Solar stocks are poised to dramatically escalate in 2011, attracting attention from growth and value investors, especially as broad energy prices rise."

According to the Solar Energy Industries Association (SEIA), U.S. installations increased 67 percent to $6 billion in market value last year. PV installations also grew 102 percent to reach 878 megawatts for grid connections while tripling for utilities to 242 megawatts.

PSI is undertaking multiple acquisitions of solar companies that are well-positioned for growth based upon their geography, size, revenue, market footprint, and corporate leadership.

Robert Shuey, principal, Pegasus Funds, a Dallas-based merchant banking firm says, "We are confident in the experienced leadership team of PSI to execute a strong business roll-up strategy that drives investor value. We expect that PSI will also deliver significant social and economic value as solar power brings practical solutions to communities, governments, and individuals worldwide."

About Principal Solar

Principal Solar, Inc (PSI; Pink Sheets: PSWWD) is a publicly traded renewable energy holding company which concentrates its resources on the acquisition, finance, development, and management of solar power companies to rapidly advance the inevitable utilization of solar power. The company is building the world's first online library dedicated exclusively to the field of solar energy - a 24-hour gateway to current information, perspectives and thought-leadership: www.definitivesolarlibrary.com. Visit www.PrincipalSolar.com.

Cautionary Statement Regarding Forward-Looking Statements

Statements in this release regarding future plans, expectations, projections, events or conditions are forward-looking statements. Actual results, including business plans and results, integration benefits and demand growth, could differ materially as a result of a variety of factors, including our ability to: achieve the value creation goals of the reverse merger; promptly and effectively integrate businesses; alter management time on integration-related issues; make changes in long-term solar energy prices or other market or economic conditions affecting the solar energy industry; control political or regulatory developments; foresee technical or operating difficulties; predict political events or disturbances; manage the outcome of commercial negotiations; avoid wars and acts of terrorism or sabotage. We cannot guarantee that any of the events anticipated by this forward-looking statement will not occur and, if any of them do occur, we cannot control the subsequent potential impact they might have on our operations or financial condition. We assume no duty to update these statements in the future. References to resources in this release include quantities that are not yet classified as "proved reserves" under SEC definitions, but that we believe will ultimately be produced.

CPR for Principal Solar, Inc.
Joelle Caputa, 201-641-1911 x54
Jcaputa@cpronline.com


© Business Wire 2011
React to this article
Latest news
Date Title
1m ago SAMSUNG ELECTRONICS : execs exit after profit slide
1m ago FLYKE : Inside information - statutory demand
1m ago ALRO : Current report drafted according to the provisions of the article 226 of the Law no. 297/2004
5m ago SONY : Obama defends opening to Cuba, vows response to Sony hack
6m ago SONY : EFE News Briefs for Friday, Dec. 19 (End of the day)
7m ago GLENTEL : Files Proxy Materials for Securityholders' Meeting to Approve Plan of Arrangement
10m ago Sony trying to find alternatives to release 'The Interview'
11m ago Accretive Health Provides Updated Timeline for Completion of Restatement
11m ago FCC FEDERAL COMMUNICATIONS COMMISSION : O'Rielly Statement
13m ago Max to offer voice services over OTT platform?
Latest news
Advertisement
Hot News 
DENDREON : Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, Other Events, Financial Statements and Exhibits (form 8-K)
DIXONS CARPHONE : *exane bnp raises dixons carphone price target to 510 (450) pence - 'outperform'
BERKELEY MINERAL RESOURCES : Obsidian IR
Anchor BanCorp Wisconsin Inc. to Join Multiple Russell Indexes
ATLANTIS RESOURCES : Makes First MeyGen Facility Drawdown
Most Read News
54m ago Obama vows U.S. response to North Korea over Sony cyber attack
1h ago U.S. labor agency files complaints against McDonald's
1h ago SYSCO : Poised to Complete US Foods Deal (Report)
1h ago Former Chrysler Group expands Takata driver-side air bag recall globally
1h agoDJU.K. Police Arrest Man in Forex Market Manipulation Probe -- Update
Most recommended articles
9m ago Sony trying to find alternatives to release 'The Interview'
16m ago GBP/USD Range in Focus Ahead of U.K. & U.S. 3Q GDP Reports
25m agoDJTop Schools Heat Up Beijing Property Market
26m agoDJWhistleblowers Score a Big Payday -- Update
26m agoDJBank of Nova Scotia to Buy Citigroup Retail, Commercial Operations in Peru
Dynamic quotes  
ON
| OFF