KELOWNA, BRITISH COLUMBIA–(Marketwired – Aug. 11, 2014) – SUNVAULT ENERGY INC. (PINKSHEETS:SVLT) (“Sunvault”) (“the Company”) and Aboriginal Power Corp. (an exclusive Incubation Company of Sunvault Energy) (“APC”) are pleased to announce that APC purchased a 50% ownership stake in a natural gas well in Alberta.
The natural gas well acquisition by APC is to convert clean natural gas into electricity directly at the well head without the requirement of distribution pipeline. The ability to leverage natural gas through conversion into a higher metric pricing level of peak power is appealing to Sunvault & APC.
APC with its Partner Northern Lights Aboriginal Power Corp. is in the business of engineering, designing, procuring, constructing, operating and maintaining clean energy and alternative energy projects including solar, wind, bio-mass, bio-gas co-generation and now natural gas electricity generation.
The newly formed Northern Lights Aboriginal Power Corp LP mandate is to provide electricity and choices to Aboriginal Groups (First Nations) including businesses within their various territories across the country. This service will reduce power pricing and increase the value proposition for Aboriginal Groups (First Nations) and their business partners. Northern Lights Aboriginal Power Corp LP has expansion plans that will see it move beyond Aboriginal (First Nation’s) lands and further to other areas such as municipal and county as well as commercial and industrial users in urban centers across all sectors.
“We are enthusiastic about the power generating economics surrounding abandoned natural gas wells where currently distribution and pricing make margins very slim,” commented Gary Monaghan, President & CEO of Sunvault Energy. “At certain power peak positions, converting natural gas to electricity can multiply revenue up to six times. Natural gas conversion generator equipment is readily available for these purposes,” he continued.
Sunvault Energy also announces that it has entered into a binding letter of intent to acquire 100% of its exclusive incubation company, Aboriginal Power Corp. The Company will proceed with this acquisition through a normal definitive agreement and subject to approval by the company board of directors.
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.