Principal Solar, Inc (PSI), a renewable energy holding company which concentrates its resources on rapidly advancing the inevitable, worldwide utilization of solar energy through a unique roll-up strategy, today announced the public trading of its common stock.
The Company is quoted on the Over-The-Counter (OTC) Electronic Pink Sheets (NQB) under the symbol PSWW. By acquiring best-in-class solar companies, PSI will establish itself as the worlds leading provider of solar energy — the most promising, price-competitive, and abundant clean energy source for the future, says Michael Gorton, chief executive officer and chairman of PSI, noting that in the near term the cost of photovoltaic (PV) solar power will compete with and actually be lower than traditional sources of energy created by fossil fuels. The timing for this launch is ideal, given the nod on solar energy from Capitol Hill, the accelerating solar market and the vote of confidence from front-line investors. Solar stocks are poised to dramatically escalate in 2011, attracting attention from growth and value investors, especially as broad energy prices rise.
According to the Solar Energy Industries Association (SEIA), U.S. installations increased 67 percent to $6 billion in market value last year. PV installations also grew 102 percent to reach 878 megawatts for grid connections while tripling for utilities to 242 megawatts.
PSI is undertaking multiple acquistions of solar companies that are well-positioned for growth based upon their geography, size, revenue, market footprint, and corporate leadership. Robert Shuey, principal, Pegasus Funds, a Dallas-based merchant banking firm says, We are confident in the experienced leadership team of PSI to execute a strong business roll-up strategy that drives investor value. We expect that PSI will also deliver significant social and economic value as solar power brings practical solutions to communities, governments, and individuals worldwide.
