EX-99
2
exhibit99.htm
PRESS RELEASE
EXHIBIT 99
SOLAR ENERGY LIMITED
NEWS
RELEASE
SOLAR ANNOUNCES THE
ACQUISITION PLANKTOS
August 12, 2005- Vancouver,
British Columbia - Solar Energy Limited (OTC BB
"SLRE.OB")("Solar") today announced the acquisition of Planktos, Inc.
("Planktos"), a California based company engaged in improving the world's
marine environment by focusing on the commercial opportunities attendant to the Kyoto
Protocol.
Solar issued to the sole shareholder
of Planktos a five (5) year convertible debenture in the amount of one million five
hundred thousand dollars ($1,500,000) and agreed to advance up to one million five hundred
thousand dollars ($1,500,000) in the form of loans over the next twelve (12) months to
capitalize Planktos' initial business plan in exchange for all the issued and
outstanding shares of Planktos. The stock purchase agreement further commits Solar to
assist Planktos in the process of becoming a public company within the next six (6) months
either by reverse acquisition into an existing public entity or through an initial public
offering of Planktos' common stock.
The Kyoto Protocol enables companies
and governments to offset regulated greenhouse emission restrictions by investing in CO2
reduction programs in exchange for certified emission reduction (CER) credits. CER credits
are traded much like commodities with a current value of approximately twenty five dollars
($25.00) per CER (which represents one tonne of CO2 or equivalent). The Kyoto Protocol
became law effective February 16, 2005, the result of which legislation will be a rapidly
expanding multi billion dollar market for CER credits.
Planktos' near term commercial
objective is to produce CER credits at a cost of less than one dollar ($1.00) per tonne
utilizing proprietary technology designed to stimulate plankton growth in the world's
oceans as a means by which to sequester CO2. Specifically, Planktos expects to implement
its program of "iron fertilization" of the ocean to sequester tonnes of CO2. The
process of stimulating plankton growth and the overall mission of Planktos can be viewed
on the company's website at
www.planktosinc.com
.
Solar is a public company; its common
shares trade on the OTCBB under the ticker symbol "SLRE".
A number of statements contained in
this press release may be considered to be forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995.
These forward-looking statements involve a number of risks and uncertainties, including
timely development, and market acceptance of products and technologies, competitive market
conditions, successful integration of acquisitions and the ability to secure additional
sources of financing. The actual results Solar may achieve could differ materially from
any forward-looking statements due to such risks and uncertainties. Solar encourages the
public to read the information provided here in conjunction with its most recent filings
on Form 10KSB and Form 10QSB. Solar's public filings may be viewed at
www.sec.gov
.
Solar Energy Limited
Planktos, Inc.
Contact: Contact:
Peter Tsaparas, P.Eng, Director
Russ George, President
Phone: (604) 669-4771
Phone (650) 274-6853

EX - 99 2 exhibit99 . htm PRESS RELEASE EXHIBIT 99 SOLAR ENERGY LIMITED NEWS RELEASE SOLAR ANNOUNCES THE ACQUISITION PLANKTOS August 12 , 2005 - Vancouver , British Columbia - Solar Energy Limited ( OTC BB " SLRE . OB " ) ( " Solar " ) today announced the acquisition of Planktos , Inc . ( " Planktos " ) , a California based company engaged in improving the world 's marine environment by focusing on the commercial opportunities attendant to the Kyoto Protocol . Solar issued to the sole shareholder of Planktos a five ( 5 ) year convertible debenture in the amount of one million five hundred thousand dollars ( $ 1,500,000 ) and agreed to advance up to one million five hundred thousand dollars ( $ 1,500,000 ) in the form of loans over the next twelve ( 12 ) months to capitalize Planktos ' initial business plan in exchange for all the issued and outstanding shares of Planktos . The stock purchase agreement further commits Solar to assist Planktos in the process of becoming a public company within the next six ( 6 ) months either by reverse acquisition into an existing public entity or through an initial public offering of Planktos ' common stock . The Kyoto Protocol enables companies and governments to offset regulated greenhouse emission restrictions by investing in CO2 reduction programs in exchange for certified emission reduction ( CER ) credits . CER credits are traded much like commodities with a current value of approximately twenty five dollars ( $ 25.00 ) per CER ( which represents one tonne of CO2 or equivalent ) . The Kyoto Protocol became law effective February 16 , 2005 , the result of which legislation will be a rapidly expanding multi billion dollar market for CER credits . Planktos ' near term commercial objective is to produce CER credits at a cost of less than one dollar ( $ 1.00 ) per tonne utilizing proprietary technology designed to stimulate plankton growth in the world 's oceans as a means by which to sequester CO2 . Specifically , Planktos expects to implement its program of " iron fertilization " of the ocean to sequester tonnes of CO2 . The process of stimulating plankton growth and the overall mission of Planktos can be viewed on the company 's website at www.planktosinc.com . Solar is a public company ; its common shares trade on the OTCBB under the ticker symbol " SLRE " . A number of statements contained in this press release may be considered to be forward - looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995 . These forward - looking statements involve a number of risks and uncertainties , including timely development , and market acceptance of products and technologies , competitive market conditions , successful integration of acquisitions and the ability to secure additional sources of financing . The actual results Solar may achieve could differ materially from any forward - looking statements due to such risks and uncertainties . Solar encourages the public to read the information provided here in conjunction with its most recent filings on Form 10KSB and Form 10QSB . Solar 's public filings may be viewed at www.sec.gov . Solar Energy Limited Planktos , Inc . Contact : Contact : Peter Tsaparas , P . Eng , Director Russ George , President Phone : ( 604 ) 669 - 4771 Phone ( 650 ) 274 - 6853