New products to market with a strong focus on Fiber Reinforced Plastics technology (FRP)
NEW YORK--Solar Thin Films, Inc. (USOTC: SLTZ) (the "Company"), an environmentally conscious company working to bring new products to market with a strong focus on Fiber Reinforced Plastics technology (FRP), as well as waste to energy and solar energy, releases the following Stockholder update.
In recent developments, the Company is pleased to report the following progress toward building near-term stockholder value:
1) The Company is in advanced negotiations to complete the purchase of a large manufacturing facility in North Carolina. The finalization of this purchase will enable the Company to commence manufacturing of its core product lines, including products which employ patented FRP technology, such as shipping containers and disaster relief housing.
2) The Company is finalizing negotiations to build the first of its Eco-houses in the Long Island area of New York. The Eco-house is a unique building designed to replace houses lost in the devastation of Hurricane Sandy last year. This unique building is designed to withstand 7.5 feet of water surge from the ocean, has insulated windows that can withstand 150 mph winds, and is powered with integrated solar panels.
3) The Company is additionally in negotiations to build, own and operate solar fields in West Virginia and Kentucky. The electricity generated from these fields would be sold to major electrical utility companies, and could generate years of secure ongoing revenue for the Company.
The Company's Chief Executive Officer, James Solano commented: "We have made excellent progress since the QRT acquisition and are excited to be able to report prospective near-term revenue building events, in advance of commencing operations in our future manufacturing facility. We are confident our efforts and initiatives will bring tremendous value to our stockholders. We will continue to provide updates on progress in all areas of our Company as news develops."
About Solar-Thin Films, Inc.
Through its subsidiary Quality Resource Technologies, Inc., the Company is focused on developing its business in three areas: (1) developing and manufacturing shipping containers using patented Fiber Reinforced Plastics (FRP) technology, (2) building housing using patented FRP technology and (3) developing waste to energy and solar energy projects which will be marketed and sold initially in the United States and the Caribbean.