Former U.S. Energy Secretary Spencer Abraham to Advise Sunovia Energy Technologies
SARASOTA, Fla., Oct. 22 /PRNewswire-FirstCall/ — Sunovia Energy Technologies, Inc. (BULLETIN BOARD: SUNV) announced today that former U.S. Energy Secretary Spencer Abraham has agreed to serve as a senior advisor on the company’s advisory board. Abraham’s consulting firm, The Abraham Group, will provide strategic advice and assistance.
Sunovia, an early-stage renewable energy and energy conservation company, is developing a new, cost-effective, scalable solar energy system unlike any technology currently in production. The Sunovia technology, which is readily reproducible and delivers an extremely high yield, has been exhaustively tested and independently validated.
Sunovia will begin marketing its solar systems before the end of 2008, and intends to pre-sell its entire production capacity through 2014. “Secretary Abraham’s commitment to Sunovia is a clear representation of the progress and innovations that we are achieving in the area of renewable energy,” said Carl Smith, Sunovia’s CEO and chairman of the board, “His expertise and knowledge of global markets will facilitate and help accelerate many aspects of our continued growth. Our team became much stronger today with the addition of Secretary Abraham.”
“The future of United States energy policy will be based on our country’s ability to develop and implement many different types of technologies to meet our growing energy needs,” Secretary Abraham said. “Sunovia’s new solar energy system is a transformative technology with great potential. Sunovia is an impressive company that will be a major player in the solar industry, and we look forward to working with them to achieve their business objectives.”
Sunovia’s new solar energy system is expected to achieve grid parity at a production level of 100MW. In exclusive partnership with EPIR Technologies, Inc., the company discovered a method to produce single crystalline CdTe/Si more rapidly than ever achieved before in any lab, even for a single isolated sample. The results have been independently validated and are readily reproducible with an extremely high yield and an unprecedented high crystal quality.
About The Abraham Group LLC
The Abraham Group, LLC, is a Washington, D.C. based international strategic consulting firm that specializes in assisting clients seeking opportunities in the international energy sector. The firm’s Chairman & CEO, Mr. Spencer Abraham, served as U.S. Secretary of Energy from 2001 – 2005 and as a U.S. Senator from 1995 – 2001. The firm’s partners include Mr. Joseph McMonigle, who was former Chief of Staff at the U.S. Department of Energy and Vice Chairman of the International Energy Agency Board of Governors; and Ms. Majida Mourad, who served as Senior Advisor to the Secretary as a lead Department representative on international energy matters in the Middle East, Australia, and Russia as well as various European and Asian countries.
About Sunovia Energy Technologies, Inc.
Sunovia Energy Technologies is a Sarasota, FL-based renewable energy and energy conservation company that is commercializing advanced, cost-effective cadmium telluride (CdTe) solar cell and infrared technologies. Sunovia is also the owner of the EvoLucia(TM) line of energy-efficient LED lighting products.
Sunovia’s solar and LED lighting technologies are among the most cost and energy efficient in the world. The Company maintains a focus on research and development, and works diligently to ensure that it remains at the forefront of the energy curve as renewable energy markets rapidly expand and territories are defined.
Sunovia owns a significant equity interest in Illinois-based EPIR Technologies, Inc. (http://www.epir.com/), one of the most advanced IR sensor and IR imaging companies in the world, and is also the exclusive marketing partner for all EPIR products. EPIR is a pioneer and leader in the commercialization of CdTe on Si and HgCdTe on Si photovoltaic products, and its knowledge and experience in the growth of these II-VI semiconductors is equal to or exceeds any other company in the world. EPIR’s unique expertise has been endorsed by the award of Congressional funds for the development of a manufacturing capability for CdTe on Si and the award of a patent for growing CdTe directly on a Si readout integrated circuit. EPIR and Sunovia have a network of close collaborative relationships with the major Defense Department and industrial labs involved in IR detection and imaging, including the Army Research Laboratory, the Night Vision Electronic Sensors Directorate, BAE Systems, and other laboratories around the world.
For more information, or to view Sunovia’s filings with the Securities and Exchange Commission, visit http://www.sunoviaenergy.com/.
Sunovia Energy’s Website is located at http://www.sunoviaenergy.com/. EPIR Technologies, Inc.’s Website is located at http://www.epir.com/. More information about this exclusive partnership may be viewed in the company’s filings with the Securities and Exchange Commission (SEC), available online at http://www.sec.gov/.
The Sunovia Energy logo is a registered service mark of Sunovia Energy Technologies, Inc. in the United States and/or other countries. Sunovia Energy products and services are provided by Sunovia Energy Technologies, Inc.
Forward-Looking Statement
Some of the statements made by Sunovia in this press release are forward- looking in nature. Actual results may differ materially from those projected in forward-looking statements. Sunovia believes that its primary risk factors include, but are not limited to: development and maintenance of strategic acquisitions; domestic and international acceptance of our product lines; defending our intellectual property and proprietary rights; development of new products and services that meet customer demands and generate acceptable margins; successfully completing commercial testing of new technologies and systems to support new products and services; and attracting and retaining qualified management and other personnel. Additional information concerning these and other important factors can be found within Sunovia’s filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors.
Sunovia Energy Technologies, Inc.
CONTACT: Craig Hall, Sunovia Energy Technologies, +1-941-751-6800,craig.hall@sunoviaenergy.com
Web site: http://www.sunoviaenergy.com/