Solar Energy Limited (OTCBB:SLRE) (“Solar”) today wishes to update its shareholders as to current activities.
The original business of Solar was to develop energy systems that were not only commercially viable but environmentally friendly. Once a viable, clean energy source was developed, it could be used to solve water and pollution problems along with the ever-increasing energy problem.
Two years ago, Solar acquired 100% of two private companies: D2Fusion, Inc. and Planktos, Inc. As these two companies appeared to be strategically more opportune in today’s global market, Solar inventoried its past R&D projects, except for its investment in Solarec (Solar reduction of CO2 to produce a fuel with green electricity as a byproduct).
Solar is leveraging its holdings in the latter two core technologies by agreeing to have both Planktos, Inc. and D2Fusion, Inc. be acquired via a Reverse Take Over by two separate public companies.
Planktos Corp (OTCBB:PLKT) will shortly complete the acquisition of Planktos, Inc. and Enwin Resources, Inc. (OTCBB:ENWN) will shortly be acquiring D2Fusion, Inc. Enwin will be changing its name to D2 Fusion Corp as has already been announced.
Solar had found it difficult to fund the R&D activities of a “basket” of technologies and, by separating the technologies into the different public companies, has made it easier to raise the necessary ongoing working capital without dilution to Solar.
In summary, by mid-July 2007, the assets of Solar will be:
- 45,000,000 shares of Planktos Corp (PLKT)
- 30,000,000 shares of Enwin Resources, Inc. (ENWN) (soon to be D2Fusion Corp)
- 100% of Renewable Energy Limited (which has its interest in Solarec)
- Miscellaneous related R&D (water, energy, engine technology) focused on photovoltaic (PV) systems.
Current operations of Planktos, Inc. can be viewed on: www.planktos.com, D2Fusion, Inc. on: www.d2fusion.com.
Forward-Looking Statements
A number of statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended. A safe-harbor provision may not be applicable to the forward-looking statements made in this press release because of certain exclusions under Section 27A(b). These forward-looking statements involve a number of risks and uncertainties, including the sufficiency of existing capital resources, and uncertainties related to the development of Solar’s business model. The actual results that Solar may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Solar encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB and Form 10-QSB. Solar’s public filings may be viewed at www.sec.gov.
