SuperVision "SuperMag" Designs New Power Systems for Wal-Mart to Solve $1 Billion Power Bill Problem
Posted on: Monday, 8 January 2007, 06:00 CST
SuperVision Entertainment Inc. (PINKSHEETS: SVET) -- Wal-Mart, the world's biggest retailer, is experimenting with a green building strategy aimed at cutting stores' energy usage.
In a recent news release from Wal-Mart, it was disclosed that the company is the nation's largest private energy user. The 2074 supercenters located in the United States use an average of 1.5 million kilowatt-hours per year. Combined that is enough energy to power Chile.
The 3,800-store chain's annual power bill totals a staggering $1 BILLION. Wal-Mart CEO Lee Scott has committed to a corporate plan to reduce that amount by almost 30%, and is investing $500 million a year under a corporate program to prove out sustainable innovations.
The company has opened two experimental stores in Texas and Colorado as test laboratories for various alternate power sources. The testing, conducted by The National Renewable Energy Laboratory and Oak Ridge National Laboratory, is ongoing. They have already determined that LED lights have provided an excellent savings, but roof mounted solar panels and wind turbines have proved less successful.
The SuperMag technology is proprietary to SuperVision and is completely scalable. Designs are to be drawn as quickly as possible and provided to Wal-Mart's special projects engineering department for consideration, evaluation and testing. The Supermag could provide a possible solution to the $1 billion power bill that Wal-Mart currently incurs. The Supermag designs will each provide for a stand-alone SuperMag generator able to power a Wal-Mart supercenter.
Should the designs be acceptable to Wal-Mart and any subsequent SuperMag installations prove to be successful, the 3,800 Wal-Mart stores could be a tremendous customer for the SuperMag product and SuperVision. The estimated cost of each installation could be $3 million to $10 million each depending on the size but power bill savings could be far in excess of the 30% Wal-Mart is seeking. There are literally thousands of such customers around the world that could benefit from the SuperMag product.
The SuperMag is considered breakthrough and groundbreaking technology that manipulates magnetic fields to create electrical energy. Interest in the product continues to be high from countries such as China, Russia, Europe and elsewhere.
Safe Harbor Statement:
All statements other than statements of historical fact included in this press release are "forward-looking statements." The forward-looking statements, including statements about the Company's future, revenues and earnings, and all other forward-looking statements (i.e. future operational results and sales) are subject to assumptions and beliefs based on current information known to the Company and are factors that are subject to uncertainties, risks and other influences which are outside the Company's control, and which may yield results differing materially and substantially from those anticipated. All information is subject to change, deletion or insertion.
Contact: SuperVision Entertainment Inc. Email: Contact via http://www.marketwire.com/mw/emailprcntct?id=262340DEC43F8FEA
SOURCE: SuperVision Entertainment Inc.
Source: MARKET WIRE
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