Barnabus Energy Signs Asian Distribution Agreement for Portable Energy System
Market Wire - November 28, 2005 9:00 AM (EDT)
SOLANA BEACH, CA, Nov 28, 2005 (MARKET WIRE via COMTEX) -- Barnabus Energy, Inc. (OTC BB: BBSE) announced today that it has entered into a distribution agreement with Chinese Consulting Limited (CCL) of Hong Kong. The agreement affords CCL exclusive rights to distribute the SunPak 3P portable solar energy system throughout Asia.
Under the terms of the agreement an initial $250,000 distribution fee against future sales will be paid by CCL to the Company. Barnabus Energy's affiliate, Solar Energy Systems (SRS) will manufacture SunPak 3P products and ship them into the country for use in a wide range of applications wherever electrical grid connections are not available. The product is designed for use with military personnel, police, emergency workers, and all outdoor enthusiasts. SunPak 3P meets the demands of a wide range of environments from battlefield conditions, marine, agricultural and general recreation applications as the system provides more portable power versus any comparable device on the market today.
Chinese Consulting Limited is a company with its own research and development capabilities which may prove beneficial should the product require any adaptations to suit local needs, as well as an experienced and knowledgeable sales force, established distribution capabilities, and numerous links to a wide variety of government agencies, supply-side organizations, import/export groups, and manufacturing firms throughout the region. With the heightened need for energy solutions throughout Asia, SunPak 3P and other photovoltaic products from Barnabus affiliates Solar Roofing Systems and Connect Energy are poised to fulfill a significant portion of the growing electrical demands of the region.
Mr. Justin Kwei, President of Chinese Consulting stated, "Given the explosive growth in the Asian marketplace, and the need for ready access to power in our vast remote locations, we anticipate immediate interest in the Sun Pak 3P. We feel that the process from contract to delivery of first orders can be measured in months, soon after initial agreements are in place."
Barnabus President, Mr. David Saltman stated, "This agreement with CCL paves the way for our entry into the Asian marketplace, and the commensurate opportunities the region offers. CCL has shown that they not only have access to key organizations, but to the individuals that we need to deal with directly in order to fully exploit Sunpak 3P in the region. Furthermore, China has made a multi-billion dollar commitment to developing rooftop photovoltaics and other renewable solutions to meet their explosive energy demands, and we look forward to being their partner in helping them meet this objective."
ABOUT THE COMPANY
Barnabus Energy, Inc. (BBSE) is committed to the development of a diversified energy project portfolio. The Company is currently acquiring commercially viable projects in both conventional and renewable energy sectors. Management has closely aligned itself with key strategic partnerships that will move the Company forward towards future acquisitions and growth. The company's model is a focused approach to the exploitation of targeted, low-risk development opportunities.
Safe Harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Barnabus Energy, Inc. has little or no control.
ON BEHALF OF THE BOARD
Barnabus Energy, Inc.
David Saltman, President
Investor Relations Contact:
Brad Long
1-800-250-2610
Visit our website at www.barnabusenergy.com
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