KELOWNA, BRITISH COLUMBIA--(Marketwired - Feb. 15, 2016) - SUNVAULT ENERGY INC. (SVLT) ("Sunvault") ("the Company") (OTC PINK:SVLT) and Aboriginal Power Corp, (an exclusive Incubation Company of Sunvault Energy) ("APC") are pleased to announce that the Company has started to sign up and accumulate customers under the incubation company partner Aboriginal Power Corp. Selling recently began into commercial businesses through its professional sales team.
The accumulation of customers that has begun is in the commercial area but will soon extend to Aboriginal lands and exclusivity of the potential customer base wherever possible. The preliminary work to sign up larger numbers of residential customers has almost been completed. The Company has plans to accumulate those customers under one bulk billing arrangement wherever feasible.
"As a Single Purpose Power Utility, we intend to provide power at competitive prices and under bulk billing arrangements where additional savings can be had for those who reside or have businesses within First Nation territory lands," stated Gary Monaghan, CEO of Sunvault Energy.
The organization to get the power sales started has taken longer than the company expected, but the company is encouraged by recent efforts by its sales personnel in the commercial area.
The company has plans to reach approximately 10,000 customers in its first year of roll out and each combination of commercial and residential customer average when supplying both power and natural gas represents an approximate dollar value to the company of approx $1000 each or estimated total Gross revenue of $10,000,000 in the first twelve months.
Sunvault will continue to seek out additional infrastructure and project 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 industry through a seamless and novel integration of energy generation and storage. The Company is developing the world's finest Electrical Energy Storage Device (Battery) that will eclipse all other energy storage systems. 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.
For more information, visit the Sunvault Energy website at http://www.sunvaultenergy.com/.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that working with Universities will expedite Sunvault technology into real world applications, the ability to reduce the required footprint and cost associated to traditional solar energy generation, collection and storage, or that the technology has the potential to revolutionize how solar energy is generated, stored and utilized.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic conditions, our ability to achieve the expected benefits from the development agreement. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.