PM&E Inc. Announces Impressive Test Results
TORONTO, ONTARIO--(Marketwire - Jan. 3, 2013) - PM&E, Inc. (PINKSHEETS:PMEA) the leading developer of industrial and consumer solar power applications announced today the promising results of the pre-production testing of its updated product prototype. The company is reporting significant design improvements and reduction of the production cost, which may be instrumental in preparation and launch of the production and sales of its products to wholesale customers and consumers world-wide.
Today during the board meeting, Technical Advisor Thomas Hamilton presented CEO Mr. Jack Merck with results from simulations on MPVS GEN-4v1.0.3, started in the beginning of September and completed in mid-December of 2012. Simulations were based on randomized weather patterns incorporating optical properties of the lenses forming a part of optical tracking application, which may make the application universally adaptable. The updated GEN-4 version of the Company's product used optical (non-mechanical) 3D passive tracking system in order to catch as many sun rays as possible with no mechanics involved. Simulations showed very promising results, which could compete with previously tested GEN-3 version of the application at this stage, whereby GEN-3 used mechanical tracking system.
This is great news for our application, CEO Jack Merck noted, it allows us to continue developing non-mechanical tracking approaches and given recent improvements in cell efficiencies we may expect that optical approach will become the choice for our system upon release to the market in the future. With current GEN 4 version of the system it is projected that industry-scale solar energy production cost will be at about 2.4c per kwH, which is a bit higher than our previous GEN 3 system, but the simplicity of GEN 4 system and unit production cost savings could be well worth it, putting our product at a significant advantage with the competition ahead of the anticipated production launch," concluded Jack Merck.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees as of 1995. Those statements include statements regarding the intent, belief or current expectations of PM&E, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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