PacWest Equities, Inc. ( PINKSHEETS : PWEI ) announced today the completion of an agreement to acquire the Solar Technology Line of CIGS technology from DayStar Technologies, Inc. ( NASDAQ : DSTI ), in a deal some analysts value in excess of $50 Million. The transaction includes the ownership of all of DayStar’s solar assets, including their proprietary, differentiated manufacturing process to produce low-cost, monolithically integrated, silicon-free, CIGS-on-glass modules that address the grid-tied, ground-based Solar (PV) market.
This technology is equally of interest to PacWest Equities’ wholly owned subsidiary World EcoSource, a technology based company which has developed the MobileFeed(R) and MobileFood(R) systems, helping offset deficient worldwide food production for both animals and humans.
DayStar Technologies has developed a new photovoltaic module based on its proprietary one-step CIGS deposition process. The CIGS Module addresses the construction market’s needs as it is designed to be compatible with solar system designs being installed today in the largest and most rapidly growing thin film markets.
DayStar Technologies, Inc. is an industry leader in the development of thin film copper-indium-gallium-Di-selenide solar photovoltaics, commonly known as a CIGS solar cells, for the direct conversion of sunlight into electricity. Thin film photovoltaic CIGS technology has the greatest promise for reducing the cost of solar energy. Layers of the semiconductor are deposited along with other layers of material to form a cell that utilize the photovoltaic effect to enable the generation of solar electricity.
PacWest Equities, Inc. specializes in working with under performing companies and bringing together the resources needed for them to attain financial stability and growth. Our focus is on companies showing a positive upside while striving to bring new technologies and unique products to market.
The World Eco Source MobileFeed(R) and MobileFood(R) units provide turnkey systems for either the production of livestock based consumables or human based protein and vegetable consumables.
The MobileFeed(R) units are truly a sustainable green life cycle farming system. Using solar powered and water conservation growing systems, one trailer can produce 1500 pounds daily of organically grown grass for year round livestock consumption, lowering feed costs by 200% while producing Certified Organic, Grass Fed livestock, increasing profitability of the final product.
The purchase is subject to, among other things, the completion of due diligence activities. There can be no assurance that these conditions precedent, or any other conditions precedent, will be satisfied. Further, there can be no assurance that the proposed transaction will be completed as proposed or at all. DayStar anticipates closing of the proposed transactions in the fourth quarter of 2012, assuming all agreements and approvals are in place.
Source: Daystar Technologies
For more information on: Daystar Technologies