Powerstorm ESS Announces the Launch of Its U.S. Marketing Strategy
By Business Wire News
By Business Wire News
RANCHO PALOS VERDES, Calif.
Powerstorm ESS (OTC: PSTO) (“Powerstorm” or “the Company”) (www.powerstormess.com) announced today that it has signed a sales agreement with Muni-Fed Energy, a Long Beach, CA clean technology solutions company. Under the two-year agreement Powerstorm will supply Muni-Fed with its Modular Energy Storage Solution (MESS) for integration into Muni-Fed’s projects with its federal, municipal and commercial clients.
Muni-Fed (www.munifedenergy.com) provides a full range of services to assist its clients in profitably reducing energy consumption and the environmental impact of operating their businesses. Muni-Fed’s customers include a broad array of government and private-sector entities such as the Port of Long Beach, the municipality of Long Beach and surrounding municipalities, Southern California Edison, and educational institutions such as U.C. Irvine. Muni-Fed is currently engaged in feasibility studies for the Port of Long Beach’s Energy Island project along with their green policy.
Additionally, Powerstorm EES announced that it has entered into a partnership with WISPer Ventures (www.wisperventures.com), a preferred provider of equipment leasing, working capital, and acquisition financing services to U.S. wireless internet service providers, particularly in smaller, rural communities. WISPer Ventures has a deep understanding of the telecom tower market and specializes in financing small and medium sized businesses that cannot access traditional forms of funding. Under the partnership agreement, WISPer Ventures will offer leasing and financing options for Powerstorm MESS units.
Mike Freni, Chairman and Chief Executive Officer of Powerstorm, commented, “We are very excited to announce these developments as we launch our U.S. market distribution strategy. While our main focus has been to provide hybrid power solutions to emerging markets, we realize there is a large opportunity within the U.S. to distribute our products and provide product validation for potential customers in emerging markets that we continue to have discussions with. Traditionally, the sales cycle in emerging markets lasts 9-12 months and is a highly technical process. We believe our sales efforts in the U.S. will shorten our sales cycle and lower execution risk overseas as we demonstrate how our comprehensive hybrid power solutions can provide affordable and reliable power. We expect Powerstorm to benefit from these partnerships through the expanded exposure of our MESS to the U.S. market, and the direct sales efforts by Muni-Fed as they are awarded and implement new projects.”
Mr. Freni continued, “Our partnership with WISPer Ventures gives us access to the large and growing U.S. market for wireless telecom infrastructure. WISPer Ventures is a leading provider of financing services, particularly for smaller wireless operators with towers in rural areas of the country where installation of our MESS units can provide a cost effective power alternative relative to the conventional grid. Telecom wireless providers typically prefer to lease, rather than tie up capital on equipment so this partnership will help us address the needs of these customers.”
Powerstorm is a developer of hybrid energy storage systems that provide reliable off-grid solutions for emerging markets, rural communities and disaster recovery, all of which have very limited power supply. The foundational and innovative technology from Powerstorm is protected with several patents pending. For more information visit www.powerstormess.com.
About Muni-Fed Energy:
Muni Fed Energy identifies and implements energy efficiency, energy generation and environmental projects and provides business development consulting services to federal, municipal and commercial clients. As a comprehensive partner, they work with clients from project discovery all the way through to finance and development.
About WISPer Ventures:
WISPer Ventures offers equipment financing, working capital and acquisition financing for the wireless internet service provider (WISP) market. Founded by managers of successful WISP’s with financial and investment banking backgrounds, WISPer Ventures offers a compelling long-term relationship for its clients, manufacturers, distributors and users of wireless technology.
This release contains forward-looking statements concerning market developments for our products and corresponding value propositions for our customers. These forward-looking statements reflect Powerstorm’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Powerstorm’s assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand. These statements involve risks and uncertainties that may cause Powerstorm’s actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Powerstorm’s future performance, please refer to Powerstorm’s most recent Annual Information on Form 10K. Readers should not place undue reliance on Powerstorm’s forward-looking statements and Powerstorm assumes no obligation to update or release any revisions to these forward looking statements, other than as required under applicable legislation.
Press Contact for Powerstorm ESS:
Julia Gibson, 424-327-2101
Investor Relations Counsel:
The Equity Group
Fred Buonocore, 212-836-9607
Alex Kovtun, 212-836-9620