ALLEN, TX–(Marketwired – Oct 25, 2013) – SunVault Energy, Inc. (“SunVault” or the “Company”) (OTCBB: SVLT) (OTCQB: SVLT), announced today that it has applied to ATCO Electric to interconnect its proposed generation unit to ATCO Electric’s distribution systems.
The Company expects to construct a 500 kW (kilowatt) solar electric generation unit with possible expansion to 1 MW (megawatt) within one year. SunVault will be the sole operator and owner of the unit. The Company has selected Daystar Technologies, Inc. to construct the unit.
Once the unit is operational, the Company expects to generate revenues of $115.00 per hour, based on average current market prices, during those hours that the unit supplies electrical energy to the power distribution grid. This translates to approximately $167,000 per year. If the unit is expanded to 1 MW, then expected revenues are anticipated to increase to approximately $230 per hour during the hours of electrical energy supply to the power distribution grid based on average current market prices. The unit will have fully active energy storage if it is increased to 1 MW.
“We continue to be optimistic that we will be able to generate stable revenue from this type of unit in the Alberta, Canada market and by participating in the Alberta energy system through interconnection to the grid for the sale of power. We plan to use this unit as way totest and develop our PolyCell™ and All-in-One™ technology platforms. This unit will also provide us with real-world access, data and a key-learning opportunity at the system/architectural level,” commented SunVault President and CEO John Crawford.
SunVault will continue to seek out additional opportunities as they fit into the Company mandate and growth plans. Producing on-going revenues while enabling the ability to develop and utilize the Company’s PolyCell™ energy storage, All-in-One™ and Vertical Solar Appliance technology platforms within a real world operating environment is anticipated to accelerate development and enhance existing and future renewable project installations.
About Sunvault Energy:
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 one of the lowest overall system cost structures while operating at maximum efficiency. SunVault’s objective is to then facilitate global energy sales through a Distributed Utility business model built upon and around the company’s All-in-One™, PolyCell™ and Vertical Solar Appliance technology platforms.