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 | 01:55pm 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
08:23p Brazil says will join China-backed Asia investment bank
08:18p WHITING PETROLEUM : Announces Completion of Offering of Convertible Senior Notes Due 2020 and Senior Notes Due 2023
08:16p KATAHDN BKSHS : Millinocket council rejects holding public vote on national park
08:13p NETFLIX : Sad, not 'Mad' over pending finale
08:11p WHITING PETROLEUM : Announces Completion of Offering of Common Stock
08:10p SEAS HLDG : A look back
08:09p CORELOGIC : Foreclosures, delinquencies fall in Corridor
08:08p ARCHER DANIELS MIDLAND : Three on ballot in Sterling's 2nd Ward
08:07p WAL MART STORES : Rock Hill schools' feeding program gets helping hand from Walmart
08:03p SMURFIT KAPPA : Director/PDMR Shareholding
Latest news
Advertisement
Hot News 
JUDGES SCIENTIFIC : Profit Up But Like-For-Like Revenue Shrinks
OHR PHARMACEUTICAL : Announces Final Topline Data From OHR-102 Phase II IMPACT Study in Wet-AMD
MELROSE BANCORP : Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-K)
GLOBANT : Announces Pricing of Upsized Secondary Offering at Closing Market Price
OXFORD : Reports Strong Fourth Quarter and Fiscal 2014 Results
Most Read News
07:13p Brazil police arrest Grupo Galvão CEO in Petrobras probe
07:13p REALTY INCOME : will be added to S&P 500
07:33p AECOM : Two Distinguished NJIT Alumni Received Lifetime Achievement Awards
07:28p Impaired Driving Campaign Aims to Save At-Risk Hispanic Males, Reduce Overall Crashes
07:45pDJWhite House Issues Plan to Fight Drug-Resistant Bacteria -- Update
Most recommended articles
08:23p Brazil says will join China-backed Asia investment bank
07:53p Carney says Bank of England rates likely to rise, contrasts with Haldane
07:45pDJWhite House Issues Plan to Fight Drug-Resistant Bacteria -- Update
07:42pDJIntel in Talks to Buy Altera -- 4th Update
07:30pDJJury Backs Kleiner Perkins On All But One Count--4th Update
Dynamic quotes  
ON
| OFF