Welcome!

News Feed Item

Sunvault Energy President's Message - July 21th, 2014

KELOWNA, BRITISH COLUMBIA -- (Marketwired) -- 07/21/14 -- To the Shareholders of Sunvault Energy;

Over the past number of months Sunvault Energy has been extremely active on a number of fronts. Since joining as CEO and President this January, the company has undertaken a number of initiatives, but none more prevalent than creating a solid foundation from which the company can operate and continue to gain success from.

It is true that the Sunvault Energy technology is significant, but these days and in these markets a solid technology vision is simply not enough. In the purest sense, it would be wonderful to simply develop our technology and not be involved in additional activities; however reality and honesty is always an excellent starting position. What makes a successful company in my opinion for investors, shareholders and stakeholders is revenue re-occurring in non cyclical businesses that have growth potential. So to that end, Sunvault began acquiring opportunities with the purpose of creating a solid base of operations from which our technology could be developed from, but not entirely relied upon, during its development as the only choice for revenue to be created.

In March 2014, Sunvault acquired 50% of CleanGen Inc. an Edmonton based company with a number of operating entities. These include Cutting Edge Tire Recycling LP, CleanGen Power Corp, Coole Immersive Inc., and CleanGen Aboriginal HR services. The Company in looking at the balance sheet of Cutting Edge and realizing how much was spent on transportation acquired Eco-West Transport and the assets of Werkman Transport, turning these expense line items into profit producing items for the company. Shortly after the CleanGen acquisition the company expanded its ownership to a majority position of 56%. The Company has recently finalized the purchase of the remaining 44% of CleanGen Inc. common shares.

Since January 2014, the companies acquired by Sunvault have earned estimated gross revenues (unaudited) of $3,335,562. The first two quarters have been historically the slowest for the companies and revenue is expected to rise for the rest of the year. The company strategy of building its non cyclical revenue stream from which to secure its foundation and strengthen its operations is in full swing.

The Company is also currently working on an acquisition project that will see Electrical Power production from Natural Gas Wells. Internal Gas production will be used as a hedge against power purchases and production, turning one revenue opportunity for gas sales into a higher valued revenue source at various peak electrical power demand times (electricity sales). We expect it will take about two quarters to get this business fully up and running.

The Company is partly owed by First Nation and Aboriginal groups so pursuing relationships with First Nations and other Aboriginal groups for business development opportunities is a natural fit and can create a win / win for both sides. It has been estimated that over the next decade, more than 600 major resource projects worth approximately $650 billion, are planned for Canada.

Sunvault Energy is playing a role is this developing market and has entered into a joint development agreement with Aboriginal Power Inc. to act as an incubating company for Sunvault Energy Inc. The role of Aboriginal Power Inc. is to seek out opportunities, move opportunities to fruition and while developing the opportunity to a more senior level, including all the heavy lifting of the audits required and the packaging that allows the company to easily accept these opportunities within the publicly trading entity of Sunvault Energy Inc., (SVLT)

The Company realizes that an incubation company is necessary as it has had some delays due to audits over the large CleanGen acquisition and that has lead to the company not being able to file the Super 8K and 10Q within the desired timeframe. The struggle comes to bear simply in the form of going through the auditing process, through each operating company to conclusion. The company is working diligently and has engaged several expert firms to assist so the audits required can come to a conclusion in a relatively shorter time frame.

The Company has also come to the conclusion that one of the operating companies, Coole Immersive Inc., a software company, does not fit into the companies' immediate growth plans and has entered into an agreement for the sale of the CleanGen Inc. interest in this company, has been approved by the board approval and awaiting closing due diligence. Sunvault has kept the ability to be able to utilize this software technology for its own internal training purposes at cost of development only.

As the company continues to develop its significant technology, our activities have been deliberate. To create a solid foundation from which to operate from, build strength in the form of revenue creation, to maximize the efficiencies and operating capabilities within the various operating entities and to continue to look for growth opportunities that will benefit our shareholders.

We are on an exciting track, there have been bumps, but once the current audit is behind us, looking at incubating opportunities as they occur and envelop into Sunvault at predetermined timelines will accelerate our success.

Best,

Gary Monaghan, President & CEO

Sunvault Energy Inc.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
Consumers increasingly expect their electronic "things" to be connected to smart phones, tablets and the Internet. When that thing happens to be a medical device, the risks and benefits of connectivity must be carefully weighed. Once the decision is made that connecting the device is beneficial, medical device manufacturers must design their products to maintain patient safety and prevent compromised personal health information in the face of cybersecurity threats. In his session at @ThingsExpo...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
SYS-CON Events announced today that SkyScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SkyScale is a world-class provider of cloud-based, ultra-fast multi-GPU hardware platforms for lease to customers desiring the fastest performance available as a service anywhere in the world. SkyScale builds, configures, and manages dedicated systems strategically located in maximum-security...
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, will examine the regulations and provide insight on how it affects technology, challenges the established rules and will usher in new levels of diligence a...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...