Barnabus Energy Ships Solar Project -- Company to Divest Alberta Holdings
Market Wire - December 8, 2005 9:08 AM (EDT)
SOLANA BEACH, CA -- (MARKET WIRE) -- Dec 08, 2005 -- Barnabus Energy, Inc. (OTC BB: BBSE) announced today that its affiliate, Connect Energy Inc. has shipped its first 30kw roof tile solar photovoltaic system to a joint construction project undertaken by the University of California, Davis and Sierra Nevada College.
Valued at approximately 250,000 dollars, the project includes the installation of 900 CE photovoltaic roofing tiles with a combined output of over 31,500 watts of electricity. Connect Energy's BIPV (Building-Integrated PV) system provides the highest commercially available conversion efficiency rating at 20%.
The project comes as a result of a partnership between the University of California, Davis, and Sierra Nevada College to build the Tahoe environmental research and education facility. The structure will be built at the Sierra Nevada College campus in Incline Village, Nevada, and will house offices and laboratories of the UC Davis Tahoe Research Group and the Desert Research Institute; exhibits and educational programs in the Thomas J. Long Foundation Education Center; offices, laboratories and classrooms for Sierra Nevada College students; and conference space for 300 people.
The project is particularly well suited to the location's approximately 300 sunny days per year, and the college's environmental sciences program with its emphasis on "green" building methods alongside its program focus on air and water quality, the response of ecosystems to natural and human influences, global climate change and environmental sustainability.
In other news, Barnabus Energy has approved a term sheet authorizing the sale of its Manyberries natural gas holdings, which include several wells, pipelines, and a small sour gas refinery. The terms of the agreement include a non-refundable deposit of $350,000, which has been received by the Company.
"This sale reflects an appreciated asset which we are now liquidating in order to focus on our core strategic mission, that of becoming a leading force in the renewable energy industry," stated David Saltman, president of Barnabus. "These resources will be directed to Connect Energy, and to our Suncone project, which is nearing completion of the first single cone working prototype under development at Los Alamos, New Mexico, where we will shortly be demonstrating the capabilities of its solar concentrating technology."
ABOUT THE COMPANY
Barnabus Energy, Inc. (BBSE) is committed to the development of a Renewable Energy (RE) project portfolio. The Company is currently acquiring commercially viable projects within the Renewable Energy sector encompassing diverse aspects of the industry. 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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