FAIRVIEW, TX — (Marketwired) — 08/13/13 — SunVault Energy, Inc. (OTCBB: SVLT) announces that it has successfully closed a $625,000 financing, with paid commission of 8% on funding. The use of proceeds will be used to accelerate three solar energy generation and storage projects in the Alberta, Canada region. The remaining balance of funds will support immediate operating expenses.
“SunVault–s goal is to demonstrate aspects of our technology portfolio in the real world, through the building of immediate revenue-producing projects. These large-scale energy generation and storage projects will incorporate both technologies with components that are readily accessible in the free market today,” states John Crawford, President and CEO of SunVault Energy, Inc.
He further states, “While the rest of the world is chasing expensive Lithium Ion solutions, SunVault holds to the premise — the lowest cost energy storage solution will always win. Most consumers don–t care how an electron is made, where it came from nor how it is stored. Cost at the outlet is the primary decision driver with the renewable aspect of generation being a close second.”
SVLT–s mandate is to deploy its renewable technology in an attempt to eliminate the monthly electricity bill for anyone who uses electricity.
SunVault Energy, Inc. is committed to bringing cost effective generation and energy storage to the solar industry through a seamless, novel and simultaneous integration of energy generation and storage at the molecular level. This technical approach is a first and has the potential to enable the lowest overall system cost at maximum efficiency. Neither the platform technology nor ensuing product roadmap are anticipated to be dependent upon government subsidy or tax incentive programs to create product demand.
For more information, visit the SunVault Energy website at and/or .
Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like “believe,” “expect,” “anticipate,” “estimate” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” We undertake no obligation to update any forward-looking statements.
Contact:
John Crawford
SunVault Energy, Inc.
778-484-5159