Sunrise Consulting Group Inc (SNRS)

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Sunrise Consulting Group Inc. Prepares to Move Quickly into Huge and Growing Solar Energy Market
Date : 11/21/2008 @ 8:00AM
Source : Business Wire
Stock : Sunrise Consulting Group Inc. (SNRS)
Quote : 0.0001 0.0 (0.00%) @ 7:52AM


Sunrise Consulting Group Inc. Prepares to Move Quickly into Huge and Growing Solar Energy Market

Sunrise Consulting Group Inc. (Pink Sheets:SNRS) is moving quickly to establish itself as a major player in the fast-growing international solar energy market. Last week the company announced its plans to purchase up to 60% of Sunrise Solartech Co. Ltd. www.srsolartech.com, and since that time Sunrise Consulting has been working diligently to finalize funding of its expansion plans.

Sunrise Solartech is one of China’s largest manufacturers of Photovoltaics (solar PV) products. Solar PV is the field of technology and research related to the application of solar cells for energy by converting sunlight directly into electricity. Due to the growing demand for clean sources of energy, solar PV production has been doubling every two years, making it the world’s fastest-growing energy technology. Solar PV also receives support in the form of generous financial incentives of numerous federal governments, including Germany, Japan, and the United States. In its most recent internal reports (September 2008), Sunrise Solartech projects a net profit of US $2 million in 2008, US $5 million est. in 2009, and US $10 million est. in 2010.

Raymond Chin, CEO of Sunrise Consulting Group, commented, “The growth of the solar energy market is phenomenal, and we are very excited about this venture, which has now become the focal point of our efforts. The majority of Sunrise Solartech’s current business is in the European market, where electricity is more expensive than the rest of the world. We believe that with proper capitalization Sunrise Solartech can increase its European market share while simultaneously opening new markets around the world. We are working closely with energy finance specialists at Pacific Venture Fund and Deutsche Bank on funding arrangements that will allow us to expand very quickly. These deals have not been finalized; however, we expect to be making further announcements very soon. We also believe that our share structure is manageable and at this time there will not be the need for a stock split; we believe there should be an increase in our stock value and we hope to see that reflected very soon.” For more information call 949-258-4411 or email [e-mail].

Safe Harbor Statement: This release contains forward-looking statements with respect to the results of operations and business of Sunrise Consulting Group, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.