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KELOWNA, BRITISH COLUMBIA–(Aug. 14, 2014) – SUNVAULT ENERGY INC. (SVLT) (“Sunvault”) (“the Company”) (PINKSHEETS:SVLT) and Aboriginal Power Corp, (an exclusive Incubation Company of Sunvault Energy) (“APC”) are pleased to announce that APC has signed a Memorandum of Understanding with the Halalt First Nation (“HFN”). Halalt First Nation asserts Aboriginal rights, title and interest to certain Reserve, Crown and Traditional Territory Lands located in the Province of British Columbia (“RCT Lands”).
APC along with Northern Lights Energy & Power http://www.northernlightseap.ca and their new partnership Northern Lights Aboriginal Power Corp. (“NLAPC”) is in the business of selling electricity as well as engineering, designing, procuring, constructing, operating and maintaining conventional energy and alternative energy projects including solar, wind, bio-mass and bio-gas co-generation and natural gas electricity generation.
APC and HFN will pursue the development of a commercial 10 Megawatt anaerobic biomass power project under a limited partnership structure to be located on Vancouver Island.
Under the agreement APC, NLAPC and HFN acknowledge a power project on HFN’s RCT Lands will be mutually beneficial to both parties. HFN can provide its lands and lend its political and legal support in securing a long term power purchase agreement; NLAPC can provide experience and management support and services.
“We continue our focus on infrastructure projects within an expansive First Nations marketplace”, stated Gary Monaghan, President and CEO of Sunvault Energy. “Our incubation company partner, Aboriginal Power Corp. continues its mandate to identify and secure long term infrastructure projects for Sunvault Energy and its shareholders”, he continued.
“We are very pleased with our decision to look at power utility and alternative energy for our community”, stated Chief James Thomas. “We look forward to working with APC to conclude our formal limited partnership agreement”, he continued.
Sunvault will continue to seek out additional acquisition opportunities as they fit into the Company’s mandate and growth plans.
About Sunvault Energy Inc:
Sunvault Energy Inc. is committed to bringing cost effective energy generation and energy storage to the solar industry through a seamless and novel integration of energy generation and storage. This technical approach is a first and has the potential to enable the lowest overall system cost at maximum efficiency. SunVault has further diversified by acquiring companies or assets that are immediately accretive and that will facilitate into the owning of quality non-cyclical assets.
Notice Regarding Forward-Looking Statements:
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that working with Universities will expedite Sunvault technology into real world applications, the ability to reduce the required footprint and cost associated to traditional solar energy generation, collection and storage, or that the technology has the potential to revolutionize how solar energy is generated, stored and utilized.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic conditions, our ability to achieve the expected benefits from the development agreement. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Sunvault Energy Inc.
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