ALISO VIEJO, CA--(Marketwire -07/11/12)- Premier Holding Corp. (PRHL) (the "Company"), and through its wholly owned subsidiary, WEPOWER Ecolutions Inc. ("WEPOWER"), an energy service company (ESCO) and integrator of clean energy solutions, announced today the signing of a Letter of Intent with Skybridge Solar, LLC ("Skybridge"), a Minnesota limited liability company, to acquire an equity position in Skybridge between 30 percent and 45 percent. Skybridge is a utility-scale, solar power plant developer located in Southern California. Skybridge is currently developing four early-stage projects in three states with a total potential capacity of approximately 400 megawatts, with potential revenues of over $1 billion in three years.
"This business growth opportunity plays to our strengths in how we designed the new Premier Holding Corp. and WEPOWER Ecolutions," said Kevin Donovan, CEO and president of Premier Holding Corp. "By utilizing our executive chairman Frank Schulte's 25 years of pioneeering and industry leading expertise throughout Europe in solar power plant developments, project financing partners, and network of manufacturers, suppliers, designers and engineers, we are able to bring enormous value to Skybridge Solar and its approximately 400 megawatts of solar power plant projects under development in the U.S.A. We couldn't be more pleased to have this opportunity for these projects and to work with Skybridge Solar under Paul Carey's vision, expertise and hard work over the years."
"Our partnership with Premier Holding Corp. and WEPOWER Ecolutions will dynamically help us gain increased benefits through higher quality in finished developments with greater efficiencies in the solar power plant projects," said Paul Carey, CEO, Skybridge Solar. "I'm looking forward to working closely with Frank, Kevin and the rest of the management team at PRHL and WEPOWER."
About Premier Holding Corp.
The Company provides financial and management expertise, which includes access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies, to its current subsidiary, WEPOWER. The Company also intends to acquire clean technology companies and/or green products and services that are accretive and that can be seamlessly integrated into WEPOWER, and utilize the overall economics of such products and services for the benefit of WEPOWER. For more information visit PRHL Investors Relations: www.wepowereco.com/prhlcorp
About WEPOWER Ecolutions Inc.
WEPOWER is a U.S. energy service company (ESCO) based in the Los Angeles area that offers renewable energy production, energy efficiency products and services to commercial middle-market companies, Fortune 500 brands, developers and management companies of large-scale residential developments. WEPOWER's business is focused as an integrator of clean-technology solutions in the U.S., with strategic expansion plans in Latin America, Asia and Europe. WEPOWER's core business delivers green solutions, branded specifically as WEPOWER "ecolutions," which include best-of-class alternative energy technology portfolios in wind turbines, solar PV power systems, green roofs, smart lighting controls, LED lighting, refrigeration systems and filters, battery storage systems, eco-friendly HVAC motors, energy and power control management systems, fuel reduction solutions for transportation and other clean technologies specific to its markets. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of solar- and wind-powered generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information visit us at: www.wepowereco.com
About Skybridge Solar, LLC
Skybridge Solar is a developer of utility scale solar facilities using proven solar technologies. The Skybridge Solar team is comprised of solar experts who are highly experienced developers, financiers, engineers, integrators and sales and marketing professionals. Our team has over 30 years of experience in development, finance, design and installing real estate and solar assets. We believe we can make the world a cleaner, safer place for generations to come by Powering a Clean Earth. For more information visit us at: www.skybridgesolar.com
Premier Holding Corp. Safe Harbor
This press release contains certain statements that may include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipate," "potential," "optimistic," "intend," "will" or other similar expressions. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements. Skybridge Solar, LLC assumes no liability for any statements in this press release.