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 VOLVO : to Renew Climate Savers Partnership with WWF
3m ago WOLSELEY : Profits Up As US Growth Continues To Accelerate
4m ago BURBERRY : *nomura raises burberry to 'buy' ('neutral') - target 1,850 (1,620) pence
4m ago BANK OF ENGLAND'S HALDANE : rates might stick at 3 percent - paper
5m ago OPG POWER VENTURES : Notice of AGM and Relationship Agreement
5m ago BANK OF JAPAN : Financial Statements for the First Half of the 130th Fiscal Year/Fiscal 2014
5m ago GREENYARD FOODS : changes group structure, Herwig Dejonghe acquires Pinguin Aquitaine SAS and becomes independent entrepreneur (26/11/2014)
5m ago MOSKOVSKAYA BIRZHA : Risk Parameters Change for the Currency Pair CNY/RUB
7m ago ORIX : Baseball: Free agent infielder Koyano joins Orix
7m ago UNITED UTILITIES : Raises Interim Dividend Despite Lower Profit
Latest news
Advertisement
Hot News 
Vista Equity buys ACS for £725m
NN : included in STOXX Europe 600 Index
ZOOPLA PROPERTY : *traders: barclays cuts zoopla property price target to 290 (315) pence
PETRA DIAMONDS : *traders: nomura raises petra diamonds price target to 250 (220) pence
PARAGON OF : Idem Capital reports 89% increase in investment activity in 2014
Most Read News
1d agoDJCEOS' TEST : Contending With Activist Investors -2-
1d ago DP WORLD : Belgian operations disrupted
1d ago FLOWSERVE : McCANNA Introduces In-Line Maintainable Cryogenic Valve
1d agoDJCHINA LNG : Signed Preliminary Liquefied-Natural-Gas Agreement With Sinopec Unit
1d ago CUBIC : To Present At Credit Suisse Global Industrials Conference
Most recommended articles
4m ago BANK OF ENGLAND'S HALDANE : rates might stick at 3 percent - paper
7m ago COMPASS : year profits climb on U.S., emerging markets
9m ago DAILY MAIL AND GENERAL : says well positioned after strong full-year results
10m ago Deutsche Telekom says in talks with BT over EE
17m ago BRITVIC : full-year profit ahead of forecast
Dynamic quotes  
ON
| OFF