SAN ANTONIO--(BUSINESS WIRE)--Sunrise Solar Corp. (OTCBB:SSLR) today announced that it will seek $40 million in financing from international finance consortiums for its previously announced projects in South America. The Company expects to meet with financing partners to prepare financing proposals in the next few weeks. Once this financing is in place, the company will be able to initiate project completion in Brazil.
SSLR has several major projects on the drawing boards for completion in Brazil and Mexico. Financing is anticipated from both private and quasi-public international finance consortiums who have indicated an interest in providing assistance for the development of profitable alternative energy projects in these nations.
“We have a portfolio of projects now totaling more than $100 million,” noted Eddie Austin, Chairman and CEO of Sunrise Solar Corp. “Our next step is to work with our commercial partners and sponsoring governmental entities to complete the project financing needed to bring these projects to fruition.”
“We will work closely with our clients to complete the financing of each project in the weeks ahead,” Austin concluded.
As alternative energy forges to the front of the investment horizon, large companies, such as BP (NYSE:BP) and Shell (NYSE:RDS-B), are aggressively seeking to develop new alternative energy technologies. In the meantime, SSLR is actively developing major projects using today’s technology.
About Sunrise Solar Corporation
Sunrise Solar Corporation intends to commercialize and distribute cutting edge alternative solar energy technologies and equipment. Sunrise also intends to capitalize on its institutional knowledge of emerging alternative energy technologies to develop comprehensive alternative energy plans. Sunrise Solar common stock is traded under the symbol SSLR. For more information please visit http://www.sunrisesolarcorp.com.
Tuesday, February 17, 2009
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This is simply stock price goosing from a penny stock with no record of successful developments, very few staff, and a record of loan and lease defaults. This can all be found in their most recent 10-Q, which notes that unless Sunrise can raise additional financing, there are considerable doubts about its ability to continue as a going concern.
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