BELLINGHAM, WASHINGTON--(Marketwired - Mar 20, 2014) - SUNVAULT ENERGY INC. (SVLT) ("Sunvault") ("the Company") announced that it has issued 300,000 shares pursuant to a licensing agreement with the University of South Florida signed by all parties.
The Company has filed an 8K describing the licensing agreement with the University of South Florida.
The Company is currently in discussions with the University of South Florida to define the scope of work to finalize the Research Agreement between the two parties.
The Company believes technology that allows the generation of power and the storage of same within a single solar chipset could alter the massive smart phone and mobile electronic device industry. "The Research agreement is the first step towards accomplishing our future goal of a smart phone that may never require a charge," says Monaghan. "As the smart phone market goes past the 1.4 billon user mark, this is a market that Sunvault will be focusing on," he continued.
Initially the scope of work will be to augment the smart phone power supply thereby reducing the amount of electricity that has to come for plugging in the phone to get a charge, with the final goal to make a device that can be the phone's sole source of electricity.
About Sunvault Energy Inc.
Sunvault Energy, Inc. is committed to bringing cost effective generation and energy storage to the solar industry through a seamless, novel and simultaneous integration of energy generation and storage at the molecular level. This technical approach is a first and has the potential to enable the lowest overall system cost at maximum efficiency.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that working with MIT will expedite Sunvault technology into real world applications, the ability to reduce the required footprint and cost associated to traditional solar energy generation, collection and storage, or that the technology has the potential to revolutionize how solar energy is generated, stored and utilized.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic conditions, our ability to achieve the expected benefits from the development agreement. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.