Solar Thin Films, Inc. Provides Update to Market
NEW YORK--(BUSINESS WIRE)-- Solar Thin Films, Inc. (USOTC: SLTZ) (the “Company”), an environmentally conscious company working to bring new products to market with a strong focus on Fiber Reinforced Plastics technology (FRP), as well as waste to energy and solar energy, releases the following Stockholder update.
In recent developments, the Company is pleased to report the following progress toward building near-term stockholder value:
1) The Company is in advanced negotiations to complete the purchase of a large manufacturing facility in North Carolina. The finalization of this purchase will enable the Company to commence manufacturing of its core product lines, including products which employ patented FRP technology, such as shipping containers and disaster relief housing.
2) The Company is finalizing negotiations to build the first of its Eco-houses in the Long Island area of New York. The Eco-house is a unique building designed to replace houses lost in the devastation of Hurricane Sandy last year. This unique building is designed to withstand 7.5 feet of water surge from the ocean, has insulated windows that can withstand 150 mph winds, and is powered with integrated solar panels.
3) The Company is additionally in negotiations to build, own and operate solar fields in West Virginia and Kentucky. The electricity generated from these fields would be sold to major electrical utility companies, and could generate years of secure ongoing revenue for the Company.
The Company’s Chief Executive Officer, James Solano commented: “We have made excellent progress since the QRT acquisition and are excited to be able to report prospective near-term revenue building events, in advance of commencing operations in our future manufacturing facility. We are confident our efforts and initiatives will bring tremendous value to our stockholders. We will continue to provide updates on progress in all areas of our Company as news develops.”
About Solar-Thin Films, Inc.
Through its subsidiary Quality Resource Technologies, Inc., the Company is focused on developing its business in three areas: (1) developing and manufacturing shipping containers using patented Fiber Reinforced Plastics (FRP) technology, (2) building housing using patented FRP technology and (3) developing waste to energy and solar energy projects which will be marketed and sold initially in the United States and the Caribbean.
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein.
Notwithstanding the language set forth in the preceding paragraph, the safe harbor for forward-looking statements under the Private Securities Litigation Reform Act of 1995 is not available for statements made by an issuer of a penny stock.
Investors should review the Company’s filings with the OTC Markets including, but not limited to, sections with respect to intellectual property.
For more information, contact:
James Solano, President & CEO
Tel: 1 (516) 341 - 7787
Solar Thin Films, Inc.
James Solano, 1-516-341-7787
President & CEO
KEYWORDS: United States North America New York