http://www.transactenergy.com/ () —
TransAct Energy Corp. (OTCBB: TEGY) today announced it is committed to getting the Square One Solar Systems Inc. technology approved for use with the Indian power grid as soon as practical. The patent holder filed for patent protection in India at the end of August 2010 enabling TransAct to proceed with setup and testing.
TransAct executives traveled to India in May 2010 to identify opportunities in the sustainable energy sector. Meetings with government and private industry representatives took place, where the application of solar, waste to energy, geothermal and hydrogen fuel cell technologies were discussed. In particular, strategic partners were identified for the Square One Solar technology that could invest in its development in India, assisting in securing solar power projects and providing manufacturing facilities in special economic zones to enable competitive exports.
The Solar Mission under the National Action Plan of India received its Prime Minister's approval in August 2010 to bring 20,000MW by 2020, 100,000MW by 2030 and 200,000MW by 2050.
"India is strategically located in our licensed territories and has a mandate to support the development of solar power," says TransAct Energy Corp.'s CEO Rod Bartlett. "It is the perfect place for us to set up manufacturing of the Square One Solar panel and to establish joint ventures for power production. We look forward to establishing our Indian presence and will start the process of securing a manufacturing site in the last quarter of 2010."
About TransAct Energy Corp.
TransAct Energy Corp. is a Texas-based company. Our business is the development, production, management and conservation of electricity through sustainable electricity projects. Our focus is energy produced from geothermal, solar and municipal waste. Our power conservation technologies are centered on technology innovations including hydrogen fuel cells and low temperature geothermal. Please visit www.transactenergy.com (http://www.transactenergy.com) .
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