Science & Technology
Science and Technology
Science and Technology
Fri, March 4, 2011
China Nuvo Solar Energy Updates Strategic Acquisition Activities
WEST PALM BEACH, Fla.--([ BUSINESS WIRE ])--China Nuvo Solar Energy, Inc. (OTCBB: CNUV), a development stage company in the renewable energy sector, announced today that after review of several acquisition opportunities the Company has narrowed its focus and is performing due diligence on two specific companies in the renewable energy sector. The Company's principal focus is on companies that are revenue or near-revenue producing and those that have a market-ready product.
"We have identified a couple of exciting opportunities, either of which we believe could benefit the Company and its shareholders. Based on our due diligence to date, we are moving expeditiously toward a more formal relationship with one or both of these companies and hope to have further news in the near future," stated Henry Fong, CEO of China Nuvo Solar Energy.
While the Company is currently evaluating potential acquisition candidates, no agreements have been reached and there are no guarantees a transaction will be consummated.
China Nuvo Solar Energy, Inc. is a development stage company that owns unique patent pending solar and photovoltaic related technology. The Company's business model includes a roll-up strategy of clean energy companies and intellectual property within the renewable energy sector. More information can be found at the Company's website [ www.chinanuvosolar.com ]
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
