PONTE VEDRA BEACH, Fla.--(BUSINESS WIRE)--Fourth graph, first sentence of release should read: As part of the federal government’s nearly $800 billion recovery program, more than $467 million is being awarded to expand the development of solar energy (sted As part of the federal government’s nearly $800 billion recovery program, more than $467 is being awarded to expand the development of solar energy).
The corrected release reads:
SOLAR ENERGY INITIATIVES SECURES FEDERAL STIMULUS FUNDING
Solar Energy Initiatives, Inc. (OTCBB:SNRY), executing on a grass roots campaign, “RENEW THE NATION,” to help redeploy a portion of the U.S. workforce and focus on reducing the world’s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, today announced that it has secured federal stimulus funding to train displaced workers as solar energy installation and maintenance technicians.
The funding is being provided by the American Recovery and Reinvestment Act of 2009, which was signed into law February 2009, by President Obama. Solar Energy Initiatives is currently in discussions regarding three additional grants.
“Management is extremely pleased with the attainment of this first award of federal stimulus funding,” stated David Fann, Chief Executive Officer of Solar Energy Initiatives. “The grant reaffirms the government’s commitment to alternative energy and also provides additional credibility to Solar Energy Initiatives as a market leader for the education and development of solar power for residential areas and commercial projects and solar parks. Management intends to employ the funds primarily for training and educating displaced workers into solar installers to secure employment in the dynamic and growing solar energy industry.”
As part of the federal government’s nearly $800 billion recovery program, more than $467 million is being awarded to expand the development of solar energy. Parameters are specific and dollars must be used within two years.
“Solar Energy Initiatives obtained the funding due to its rapidly growing dealer network and reputation as a leading educator of solar installation,” continued Mr. Fann. “We will work with all applicable government agencies in order to secure addition potential grants to assist in the growth of our business. Management remains dedicated to increasing the Company’s dealer network and expanding market presence in order to achieve our ultimate goal of improved shareholder value.”
About Solar Energy Initiatives
Solar Energy Initiatives, Inc. (www.SolarEnergy.com) is dedicated to reducing the world’s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, while building a profitable company. We are executing on a three pronged approach to achieve our plan. This includes: continuing development of one of the fastest growing dealer networks in the U.S. that sells and installs solar solutions to homeowners and commercial customers; placing solar systems on large commercial buildings and selling the energy output to the owner/occupant(s); and becoming a developer of solar parks bringing together landowners, utilities and our corporate resources to build large photovoltaic installations.
The Company’s dealer network of solar energy installers has access to BP Solar (NYSE:BP) and GE Solar (NYSE:GE) via its distribution agreements. While Solar Energy Initiatives is not a solar franchise, and the company does not compete directly with industry giants such as First Solar (NASDAQ:FSLR), Kyocera (NYSE:KYO), Sanyo (OTC:SANYY) or Suntech (NYSE:STP) as a system integrator, it provides exciting and practical solutions to businesses and individuals worldwide that understand the value of solar power.
