PacWest Equities, Inc. Announces the Signing of Agreement to Acquire the Solar Technology Line of CIGS Technology From DayStar Technologies, Inc. (NASDAQ-DTSI) in a Deal Some Analysts Value in Excess of $50 Million
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LAS VEGAS, NV–(Marketwire – Feb 12, 2013) – PacWest Equities, Inc. ( PINKSHEETS : PWEI ) announced today the completion of an agreement to acquire the Solar Technology Line of CIGS technology from DayStar Technologies, Inc. ( NASDAQ : DSTI ), in a deal some analysts value in excess of $50 Million. The transaction includes the ownership of all of DayStar's solar assets, including their proprietary, differentiated manufacturing process to produce low-cost, monolithically integrated, silicon-free, CIGS-on-glass modules that address the grid-tied, ground-based Solar (PV) market.
This technology is equally of interest to PacWest Equities' wholly owned subsidiary World EcoSource, a technology based company which has developed the MobileFeed® and MobileFood® systems, helping offset deficient worldwide food production for both animals and humans.
DayStar Technologies has developed a new photovoltaic module based on its proprietary one-step CIGS deposition process. The CIGS Module addresses the construction market's needs as it is designed to be compatible with solar system designs being installed today in the largest and most rapidly growing thin film markets.
About DayStar Technologies, Inc.
DayStar Technologies, Inc. is an industry leader in the development of thin film copper-indium-gallium-Di-selenide solar photovoltaics, commonly known as a CIGS solar cells, for the direct conversion of sunlight into electricity. Thin film photovoltaic CIGS technology has the greates
t promise for reducing the cost of solar energy. Layers of the semiconductor are deposited along with other layers of material to form a cell that utilize the photovoltaic effect to enable the generation of solar electricity.
About PacWest Equities, Inc.
PacWest Equities, Inc. specializes in working with under performing companies and bringing together the resources needed for them to attain financial stability and growth. Our focus is on companies showing a positive upside while striving to bring new technologies and unique products to market.
About World EcoSource, Corp.
The World Eco Source MobileFeed® and MobileFood® units provide turnkey systems for either the production of livestock based consumables or human based protein and vegetable consumables.
The MobileFeed® units are truly a sustainable green life cycle farming system. Using solar powered and water conservation growing systems, one trailer can produce 1500 pounds daily of organically grown grass for year round livestock consumption, lowering feed costs by 200% while producing Certified Organic, Grass Fed livestock, increasing profitability of the final product.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.The words or phrases “would be,” “would allow,” “intends to'” “will likely result,” “are expected to,” “will continue,” “anticipate,” “expect,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “considers,” or similar expressions are intended to identify “forward-looking statements.” Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
PacWest Equities, Inc.