WORCESTER, MA / ACCESSWIRE / January 2, 2015 / Mass Megawatts Wind Power Inc.,(OTCQB: MMMW) announces the spinoff of shares into a private investment company with the goal of being a public entity for the specific purpose of allowing new investment project owners the maximum benefit from the new solar tracker technology. At the same time, Mass Megawatts will be able to to produce and market the patent pending solar tracker. The spinoff will be non-dilutive to Mass Megawatts, and is targeted for stock issuance to Mass Megawatts shareholders of record in the Spring of 2015.
Mass Megawatts is expected to received approximately thirty percent of the shares from the solar project investment company in exchange for a limited territory licensing agreement of solar tracker technology for the use of projects with photovoltaic or solar cell technology applications. The agreement allows the shareholders of Mass Megawatts to benefit from the growth of the solar energy industry, while potentially earning Mass Megawatts lucrative licensing fees.
The patent pending, Mass Megawatts 'Solar-Power Tracking System' (STS) is a complete solar-power system designed to automatically adjust the position of its solar panels throughout the day to receive an optimal level of direct sunlight. Unlike other solar tracking technologies, the Mass Megawatts STS utilizes a low-cost structure that adds stability to the overall system while improving energy production levels up to 28% and only adding less than 10% to the cost of the project.
This press release contains forward-looking statements that could be affected by risks and uncertainties, including but not limited to Mass Megawatts Wind Power, Inc's. ability to produce a cost-effective product. Among the factors that could cause actual events to differ materially from those indicated herein are: the failure of Mass Megawatts Wind Power, Inc. to achieve or maintain necessary zoning approvals with respect to the location of its power developments; the ability to remain competitive; to finance the marketing and sales of its electricity; general economic conditions; and other risk factors detailed in periodic reports filed by Mass Megawatts Wind Power, Inc.
Contact Information
www.massmegawatts.com
info@massmegawatts.com
(508) 751-5432
SOURCE: Mass Megawatts Wind Power Inc.