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Tuesday, March 11, 2008

Clear Skies Solar Signs Letter of Intent to Acquire Assured Power and Communications Corporation

Clear Skies Solar Signs Letter of Intent to Acquire Assured Power and Communications Corporation

LOS ANGELES - Clear Skies Group, a wholly-owned subsidiary of Clear Skies Solar, Inc. (OTCBB:CSKH), today announced it has signed a letter of intent to acquire Assured Power & Communications Corporation (Assurecom), a California-based solar technology innovator led by seasoned technical engineers Dennis Wingo and Kenneth Kledzik. Wingo and Kledzik will both join Clear Skies Solar’s executive leadership team.

The acquisition will serve to further enhance the in-house research and development capabilities that have made Clear Skies Solar (CSS) a leader in providing renewable energy solutions. CSS designs, engineers, manufacturers and installs the most advanced and cutting-edge technology currently available in the renewable energy market, and the company recently unveiled its cutting-edge TetraPort Solar Carport System, its patented X-Trax™ Solar Monitoring System and its proprietary Solar Power Supply (SPS) Vehicle Data Monitoring Device.

“We are thrilled about moving forward as one team,” said Ezra Green, Chairman and CEO of Clear Skies Solar. “The chemistry between our groups could not be better. Dennis and Ken bring the benefit of decades of technical expertise in computer, solar and aerospace industries and the combination resulting from this acquisition means that the solar technology possibilities are literally limitless.”

Wingo, who has worked for many years in the aerospace and technology fields on projects such as solar system outposts and high-level defense industry programs, will be named Clear Skies Solar’s new Chief Technology Officer. He began his career in the commercial computer industry where he contributed to a succession of pioneering companies such as Vector Graphic Incorporated, an early leading microcomputer company; Ibis, maker of early large capacity disk drives; Symbolics, the world’s first dedicated artificial intelligence desktop computer; and Alpharel, a pioneer in multi-Terabye engineering data management systems.
Wingo went on to found or co-found three companies: Skycorp Incorporated, which specialized in design of spacecraft to be assembled in space at the International Space Station; Orbital Recovery Limited, a company specializing in extending the operational lifetimes of large communications satellites; and ultimately Assured Power & Communications Corporation.
Kledzik, a seasoned computer industry professional, will become Vice President of Tech Operations. His career began in image processing and hardware development and quickly transitioned into sustaining engineering and later hardware development at Vector Graphic and Corona Data Systems. From there, while working at Eaton Test Systems and Vitesse Semiconductor, he migrated into the ATE (Automated Test Equipment) industry and eventually back to PC Design working as a consultant for Intel. He eventually went on to become one of the original founders of both Micron Corporation and Memtek, Inc. and served as partner at Legacy Electronics, Inc. prior to transitioning to Assured Power & Communications Corporation.
“We feel that this acquisition of Assurecom by Clear Skies Solar brings significant value to our and Clear Skies Solar’s shareholders,” Wingo said. “The marriage of the robust construction expertise of Clear Skies Solar to the technological innovations under development at Assurecom for advanced solar power systems will result in significant benefits to the combined company’s customers.”
Wingo and Kledzik will bring Clear Skies Solar a combined 58 years of experience in the computer, solar and aerospace industries and 16 granted patents in various technical areas. Together, they will lead the commercial launch of CSS X-Trax as well as direct the completion of several other patent-pending products and products currently in the research and development stages.
“Both Ken and I look forward to joining with Clear Skies Solar CEO Ezra Green to bring innovative and cost-effective solar solutions to our customers and build shareholder value for our investors,” added Wingo.
“With Dennis’s extensive technology expertise and Ken’s solid track record of executing projects and bringing them to fruition in the marketplace, I am thrilled to have their talent on board in time to launch our newly-patented X-Trax™,” concluded Green.
Pending due diligence, the acquisition is expected to be finalized by May 1, 2008.
About Clear Skies Group
Clear Skies Solar, Inc. through its wholly-owned subsidiary, Clear Skies Group, Inc. ("CSG"), provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSG was incorporated in 2003 and launched formal operations in 2005. During that time period, CSG developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector. CSG has become one of the premier solar electric installation companies in the country. For more information about CSG, visit www.clearskiesgroup.com.
Clear Skies Holdings, Inc. is a featured Company on www.Investorideas.com Green portals.
Forward-Looking Statement Disclaimer
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
For more information contact:
Clear Skies Group
Media Inquiries: Avalanche Strategic Communications Laura Finlayson, 201-488-0049 laura@avalanchepr.com or
Investor Relations: PR Financial Marketing Jim Blackman, 713-256-0369 jim@prfmonline.com
Source: Clear Skies Group, Inc.

1 comment:

Web said...

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