Roseville, CA – HeliosAltas Corporation and Catalyst Energy Technologies (CET) have agreed to a stock purchase of the CET laboratory and assets located in Sequim, WA. This laboratory was used to develop off-grid, reliable power systems composed of renewable energy technologies, batteries and back-up generation. Successful commercial systems were developed in this lab and sold in off-grid locations around the world. Sales continued until the business was acquired by a third party company, leaving the lab available for HeliosAltas to acquire.
As part of the purchase agreement the lab staff will be retired, including the CEO of CET, Mory Houshmand, who will become COO for HeliosAltas.
After a successful venture with CET, its major investor has agreed to an initial investment into HeliosAltas of $125,000.
HeliosAltas VP of Technology, Mr. Chauvin said, “This acquisition brings up to the whole package including valuable lab personnel. We are not able to accurately develop, evaluate and test our power take off systems. With the existing experience and expertise, we are now able to assimilate our technology with other renewable technologies.”
CET CEO, Mr. Houshmand said, “I am very excited to join this team. Through my extensive business dealings, particularly Southeast Asia, the feedback from our customers is that this technology fills a huge market void and is desperately needed in the region.”
About the HeliosAltas Corporation
HeliosAltas Corporation is bringing worldwide access to cost-competitive, zero emission energy. The company is made up of a team of highly motivated people working to moving the world to zero carbon energy production by developing projects based on its unique low impact hydroelectric technologies. HeliosAltas manufactures sustainable technologies that it utilizes to develop projects both directly and through global partnerships. Learn more at http://www.heliosaltas.com/
About the Helios PowerWheel™
The Helios PowerWheel is the world’s first suspended hydroelectric generator producing clean renewable power with zero emissions. The Helios PowerWheel rises and falls with changing water levels automatically so it does not catch debris and allows full aquatic passage. All of the generation components are contained within the shell of the unit making it the first truly modular hydro technology. This low impact power generation can be deployed quickly. The Helios PowerWheel requires little to no civil infrastructure and it is designed to be added to existing projects to capture unused energy. Units can be installed in series or parallel in Hydro-Farms to produce megawatts of power. All this means that this is a truly green ultra-low cost energy solution.
About Catalyst Energy Technologies
Catalyst Energy Technologies was founded by a team of executives from the energy industry, each with an extensive background in the commercialization of distributed generation and power storage technologies. CET is the developer of the innovative Smart Storage Kit (SSK), a state-of-the-art energy storage package which is both compact and economical. Its smart grid is digitally interactive and capable of storing power from multiple mediums including wind, solar and other renewable energy sources. Its target markets are areas where electricity prices are volatile, tariffs exists, consumers have little to no access to grid-supplied power and places where companies are mandated to include renewable energy sources to their supply. Learn more.
Michael Carroll, HeliosAltas Corp. USA 1-844-HELIOS-1 (844-435-4671) or firstname.lastname@example.org
SOURCE HeliosAltas Corp