SPOW News .0057 Sky Power Solutions (OTCBB: SPO

SPOW News .0057

Sky Power Solutions (OTCBB: SPOW) Agreement Signed for R&D and Distribution License

2012-12-10 07:30 ET - News Release

MOORESVILLE, NC -- (Marketwire) -- 12/10/12

Sky Power Solutions, Corp, (OTCBB: SPOW) ( www.skypowersolutions.com ), an emerging leader in the development and marketing of next generation lithium-powered batteries worldwide, and a leading developer of residential concentrated solar collector power systems able to produce in excess of 2 Kilowatts (kw) of electric power with ZERO emissions using Sunlight as the only fuel, is pleased to announce that further to PR dated December 3, 2012, Sky Power has finalized and both parties have signed the Agreement for R&D and distributing license in Canada.

Sky Power confirms the distribution license will be for the territory of Canada where federal and provincial governments have implemented generous Initiatives. According to ClearSky Advisors, Inc. it is estimated that the private sector investment of solar PV in the province of Ontario in 2011 is 2 billion dollars. The electricity generation by one solar concentrator is enough to power a home and sell the excess to the grid for revenue back to the owner. The proprietary solar concentrator demonstrates a major increase in efficiency and will generate electricity even with up to 70% cloud coverage and therefore it is a favored device to be deployed in Canada.