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Locks Down Manufacturing & Distribution of Cutting Edge Solar Technology for Asia

Tue, 09/14/2010 - 2:13am
The Associated Press

http://www.transactenergy.com/ () —

TransAct Energy, Corp. (OTCBB: TEGY) today announced that it is moving forward with its license granted by Square One Solar Systems Inc. (Square One), to manufacture, market, distribute, sell, license and resell its proprietary photovoltaic solar technology. The territory granted under the license includes Afghanistan, Armenia, Australia, Azerbaijan, Bahrain, Bangladesh, Bhutan, Brunei, Burma (Myanmar), Cambodia, Cyprus, East Timor, Georgia, India, Indonesia, Iraq, Iran, Jordan, Kazakhstan, Kuwait, Kyrgyzstan, Laos, Lebanon, Macau, Malaysia, Maldives, Mongolia, Nepal, North Korea, Oman, Pakistan, Palestine, Philippines, Qatar, Republic of China (Taiwan),Saudi Arabia, Sri Lanka, Syria, Tajikistan, Thailand, Turkmenistan, Turkey, United Arab Emirates, Uzbekistan, Vietnam and Yemen.

Square One's solar panels are manufactured using simple screen-printing technology. Plastic film is used as the substrate; proprietary solutions are screen printed onto the substrate, creating solar cells that convert solar radiation (photons) into electricity. The solar panel is then laminated to protect the photovoltaic cells, generating a solar panel that is 0.5 mm in thickness, flexible, and actively generating energy at 6V to 220V under maximum conditions. Installation is simple, strong and effective. Being light and flexible the panels can be installed very inexpensively and even on curved surfaces.

"As one of the tools in our sustainable energy tool box TransAct needed a solar technology that could make a difference," said TransAct Energy's President and CEO, Rod Bartlett. "We went looking for a solar technology that could be produced for less, had a greater range of applications and overall was capable of greater operating efficiencies. We found Square One's thin film technology; current estimates place the cost of production at $0.70 USD per watt, a new milestone for solar. With none of the limitations of traditional silicone technologies Square One has a much broader range of applications."

Patrick Smyth, Square One's CEO, commented, "We are pleased to have signed a long term agreement with TransAct Energy, allowing for both companies to benefit from growth in this exciting industry. This partnership will allow the Square One Solar technology to enter the market on a grand scale becoming a world leader in the PV industry."

About Square One Solar

Through the development of a proprietary solar PV panel manufacturing technology, Square One Solar plans to manufacture non-Silicon based, quantum dot polymer solar panels for global consumption that maximize solar energy efficiency, are cost effective, easy to use, and safe for the environment. Please visit www.squareonesolar.com (http://www.squareonesolar.com)

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) .

Forward-Looking Statements

The foregoing news release includes numerous forward-looking statements concerning the company's business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited "safe harbor" for certain forward-looking statements. Forward-looking statements in this news release relating to product development, business prospects and development of a commercial market for technological advances are based on the company's current expectations. The company's current expectations are subject to all of the uncertainties and risks customarily associated with new business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.

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