LAS VEGAS, NEVADA -- (Marketwire) -- 06/18/12 -- Salamon Group, Inc. (OTCQB:SLMU)(PINKSHEETS:SLMU) and DayStar Technologies, Inc. (NASDAQ:DSTI), under contract with the Government of Samoa, shows the world the way on renewable energy in a bold and historical initiative.
Samoa's Prime Minister Hon Tuilaepa S Malielegaoi and his Cabinet have taken steps for Samoa to be the most solarized nation in the Pacific Region. Samoa is taking the lead in the South Pacific by reducing "Carbon Emissions" in the most significant way to date. These actions will have an immediate short-term effect. They are also a real long-term sustainable reduction plan for the Country's carbon footprint. The planned first step will be the introduction of a 4 megawatt solar facility this year. The first phase of the project is funded entirely by private investment. The steps that are being taken means that on a per capita basis Samoa will be one of the most solarized countries in the world.
Sunlogics Power and DayStar's Eco Energy Solutions (Australia) Pty Limited, with the strong support from the government and Electrical Power Corp (EPC), as well as, their local partners, have been instrumental in getting Samoa's first private power generating license to start the companies mandate in Samoa.
Prime Minister Tuilaepa Sailele Malielegaoi, who with his Government, has been the environmental visionary and the driving force for renewable energy in Samoa, said, "This transaction creates significant sustainable value for our Country. Samoa is committed to reducing our carbon footprint. The Government of Samoa is a committed global partner in carbon emission reductions. The structure created by Mr. Matvieshen and Mr. Yost, with the approval and great assistance of their local partners and the various Government Departments, in Samoa is excellent and a win for all stakeholders. We are enthusiastically looking forward to working together with the Sunlogics team."
Mr. Garry Yost, CEO of Eco ventures, said, "It is very fulfilling to see this transaction get its final approvals. This opportunity and the manner in which it is structured, compliments every stakeholder in this transaction."
Mr. Michael Matvieshen stated, "Prime Minister Tuilaepa Sailele Malielegaoi has been very bold in stewarding his nation towards a renewable energy policy. The Prime Minister and the Samoan government have supplied to us a streamlined process for the construction and operation of Sunlogics Solar power systems for their country. The government's agreement to place Sovereign guarantees on Sunlogics electricity revenues has made this a very stable structure for our company. We also believe that the process and the structure used in Samoa will be a template of other Nations."
DayStar Chairman and Interim CEO, Peter Lacey, commented, "We are extremely excited to be part of Samoa's future. This transaction represents a critical step in the new strategic direction of DayStar. We look forward to working with Michael and his team and to continuing to pursue opportunities that will be mutually beneficial to our shareholders."
DayStar has entered into the energy project solutions business establishing a presence in the areas of engineering, construction, and ownership of solar power generation projects. DayStar's initial footprint will be in the attractive and growing Australian and South Pacific renewables markets. Daystar is also developer of solar photovoltaic products based upon CIGS thin film deposition technology and is currently embarked on a strategy of strategic partnerships to enter new markets within the global renewal energy industry. For more information, visit the DayStar website at http://www.daystartech.com.
About Salamon Group, Inc.
Salamon Group, Inc., through its Sunlogics Power Fund Management Inc. division, is a solar energy project company specializing in the construction management and acquisition of renewable energy power projects. Sunlogics Power also looks to acquire assets and other companies in the solar and renewable energy space that are a strategic fit. Sunlogics Power is also a project-acquiring partner of Sunlogics Plc and its Subsidiary as well as other third party project developers, http://www.sunlogicspowerfund.com.
SLMU cautions that statements made in press releases constitute forward-looking statements, and makes no guarantees of future performances and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management.
William J Nalley