GWS Technologies, Inc. Announces Planned Solar Project
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(OTCBB: GWSC)
LINK TO NEWS RELEASE: http://finance.yahoo.com/news/GWS-Technologies-Inc-bw-15486267.html?.v=1
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GWS Technologies, Inc. Announces Planned Solar Project
GWS Technologies, Inc. (OTCBB: GWSC), an alternative energy company developing renewable energy solutions, today announced that it has submitted preliminary plans to the Salt River Project Agricultural Improvement and Power District (SRP) to develop a solar farm near the Phoenix-Mesa Gateway Airport in Mesa, Arizona. Because the submission was prior to the June 1, 2009 deadline, when SRP reduced its rebate to $2.25 per watt from $2.50 per watt for commercial solar production, GWS secured the higher rebate for the first phase of the project.
GWS will provide equipment and technology integration on the project, with initial cost estimates for solar equipment for the entire project at approximately $30 million. Arizona has recently become a focal point for solar projects because of a climate uniquely suited to solar energy production, as well as the availability of significant state and federal subsidies and billions of dollars in economic-stimulus money earmarked for solar power.
SRP provides electricity to nearly 930,000 retail customers in the Phoenix area. It operates or participates in 11 major power plants and numerous other generating stations, including thermal, nuclear, natural gas and hydroelectric sources. SRP also invests in renewable energy technologies such as solar power and landfill gas projects. In the spring of 2006, SRP's Board of Directors approved a management proposal that sets a target of 15% of SRP retail sales to be met through sustainable resources by fiscal year 2025.
About GWS Technologies, Inc.
"GWS" stands for GreenWindSolar. We are an alternative energy company developing renewable energy solutions. A "green" wave of emerging environmental regulations, and government-wide "green" initiatives, are changing the way consumers, the commercial sector, and states, counties and municipalities, do business. The company was founded in 2005 and is headquartered in Scottsdale, Arizona.
Safe Harbor Statement:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from those expressed or implied by such forward-looking statements. The forward-looking statements are subject to risks and uncertainties including, without limitation, changes in levels of competition, possible loss of customers, and the company's ability to attract and retain key personnel.
For GWS Technologies, Inc.
Stuart T. Smith, 512-267-2430
Fax: 512-267-2530
SSmith@SmallCapVoice.com
www.SmallCapVoice.com
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Disclaimer
Section 17(b) of the Securities Act of 1933 requires that any person that uses the mails to publish, give publicity to, or circulate any publication or communication that describes a security in return for consideration received or to be received directly or indirectly from an issuer, underwriter, or dealer, must fully disclose the type of consideration (i.e. cash, free trading stock, restricted stock, stock options, stock warrants) and the specific amount of the consideration. In connection therewith, EMC has received the following compensation and/or has an agreement to receive in the future certain compensation, as described below:
EMC has a January 22, 2009 agreement with GWS Technologies. ("GWSC") to provide various services to GWSC for a twelve (12) month period. The agreement may be renewed for additional six (6) month periods ("Renewal Term"), unless EMC or GWSC provide written notice of termination to the other party. The terms of the agreement provide that GWSC will pay EMC the following compensation for its services: The sum of $2,500 per month and 225,000 rule 144 shares every quarter paid at the beginning of each day of the quarter.To date $2500 dollars and 400,000 rule 144 shares have been paid to EMC.
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