OMVS Launches Major Solar Technology Project

TAMPA, Fla.--()--On the Move Systems (OTCBB:OMVS) announced the launch of a major new product development initiative today to create the next generation of practical, affordable solar panels. OMVS has begun work on developing printable inkjet solar panels that it expects to deploy for powerful new applications.

The new initiative marks a dynamic move into cutting-edge solar technology development that the company expects to use as a platform for rapid expansion.

“OMVS is aiming for ‘what’s next’ technology rather than ‘me too’ technology,” said OMVS CEO Chet Gutowsky. “We know there is incredible demand in the market for solar solutions. The biggest barrier to mass adoption of solar power worldwide has been the excessive cost of the existing technology.

“The solar industry is set to explode as soon as new innovations make solar cost-competitive with oil and gas, and we plan to help deliver the new technologies that will spark the green energy revolution,” he added.

Driven by Federal tax credits, declining technology costs and growing environmental awareness, the U.S. solar power market grew by an unprecedented 67 percent in 2010. This $6 Billion industry continues to grow at faster and faster rates. Bloomberg New Energy Finance reported last month that new investment rose 22 percent from the previous year to $41.7 billion. By developing new early-stage solar technologies, OMVS plans to capitalize on strong, continued growth in the industry.

Engineers at MIT, Oregon State University and elsewhere are already experimenting with revolutionary “inks” containing elements capable of being sprayed on a variety of surfaces in precise patterns to create solar cells. The technology holds the potential to eliminate the need for expensive silicon panels, resulting in rapidly produced, high-performing, ultra-low cost solar electronics. With its new initiative in place, OMVS has set its sights on bringing these cutting-edge electronics to market.

For more information on OMVS’ solar technology plans, please visit http://www.OMVSsolar.com/investors.html.

In addition to its automotive aftermarket electronics business, On the Move Systems is working to commercialize early-stage solar technology innovations to compete in a rapidly growing energy sector that includes LDK Solar Co., Ltd (NYSE: LDK), First Solar, Inc. (NASDAQ: FSLR), Suntech Power Holdings Co., Ltd. (NYSE: STP) and Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE).

About On the Move Systems, Inc.

On the Move Systems, Inc. (OTCQB:OMVS) is focused on the development of cutting-edge solar technology in coordination with a Texas university. With the company’s expertise in the automotive aftermarket electronics sector opening doors to new opportunities in the multi-billion-dollar solar power industry, OMVS has elected to launch a major solar initiative aimed at developing new technologies designed to help satisfy increasing global demand for practical, affordable green energy solutions. For more information, please visit our website at http://www.OMVSsolar.com. For investing info and performance data on OMVS, please visit http://www.OMVSsolar.com/investors.html.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contacts

On the Move Systems, Inc.
Chet Gutowsky, 813-367-9511
President and CEO
info@onthemovesystems.com

Release Summary

OMVS Launches Major Solar Technology Project

Contacts

On the Move Systems, Inc.
Chet Gutowsky, 813-367-9511
President and CEO
info@onthemovesystems.com