$PSWW Principal Solar Forms NexTeal Energy EV-Focu
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Posted On: 05/10/2021 10:00:45 AM
$PSWW Principal Solar Forms NexTeal Energy EV-Focused Operating Subsidiary
https://finance.yahoo.com/news/principal-sola...00368.html
New Entity Created Specifically for Electric Vehicle Investments and Opportunities; Principal Completes Initial $1m Investment into Subsidiary Partnership with eTruck Transportation
Dallas, Texas,--(Newsfile Corp. - May 10, 2021) - Principal Solar, Inc. (OTC Pink: PSWW) ("Principal" or "the Company"
, a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an investor in and acquirer and operator of undervalued petroleum-producing properties, today announced the formation of its new operating subsidiary corporation, NexTeal Energy, Inc. ("NexTeal" . The new entity was created specifically to focus on the Company's electric vehicle investments, including its subsidiary partnership with eTruck Transportation ("eTruck" , as well as to potentially capitalize on funding opportunities and development incentives in the electric vehicle technology sector.
"The NexTeal concept represents an intentional transition from today's largely non-renewable vehicle technologies to a fully renewable future for the transportation sector," said K. Bryce "Rick" Toussaint, CPA, MBA, Chairman and CEO of PSWW. "The creation of the new operating company is the latest example of our strategic focus on building accretive growth through investments in next-generation opportunities in innovative markets with maximum value potential."
The Company today also announced that it had achieved its first major electric vehicle investment milestone, delivering a US$1.1 million tranche of funds into its subsidiary partnership with eTruck Transportation, thereby fulfilling its initial financial obligations under the terms of the partnership agreement. eTruck expects to begin taking customer deposits for its Class 8 heavy electric vehicle conversions in Q4 of 2021.
https://finance.yahoo.com/news/principal-sola...00368.html
New Entity Created Specifically for Electric Vehicle Investments and Opportunities; Principal Completes Initial $1m Investment into Subsidiary Partnership with eTruck Transportation
Dallas, Texas,--(Newsfile Corp. - May 10, 2021) - Principal Solar, Inc. (OTC Pink: PSWW) ("Principal" or "the Company"
, a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an investor in and acquirer and operator of undervalued petroleum-producing properties, today announced the formation of its new operating subsidiary corporation, NexTeal Energy, Inc. ("NexTeal" . The new entity was created specifically to focus on the Company's electric vehicle investments, including its subsidiary partnership with eTruck Transportation ("eTruck" , as well as to potentially capitalize on funding opportunities and development incentives in the electric vehicle technology sector. "The NexTeal concept represents an intentional transition from today's largely non-renewable vehicle technologies to a fully renewable future for the transportation sector," said K. Bryce "Rick" Toussaint, CPA, MBA, Chairman and CEO of PSWW. "The creation of the new operating company is the latest example of our strategic focus on building accretive growth through investments in next-generation opportunities in innovative markets with maximum value potential."
The Company today also announced that it had achieved its first major electric vehicle investment milestone, delivering a US$1.1 million tranche of funds into its subsidiary partnership with eTruck Transportation, thereby fulfilling its initial financial obligations under the terms of the partnership agreement. eTruck expects to begin taking customer deposits for its Class 8 heavy electric vehicle conversions in Q4 of 2021.
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