MIRAMAR BEACH, Fla.--(BUSINESS WIRE)--As First Titan Corp. (OTCBB:FTTN) seeks out new opportunities in solar power, the fastest-growing segment of the energy industry, clean energy investment has taken a major jump worldwide in the wake of slumping oil prices.
According to Bloomberg New Energy Finance, new funds for solar, wind, biofuels and other low-carbon energy technologies rose 16 percent to $310 billion last year—the sector’s first growth since 2011. A major uptick in solar investment had the biggest impact on the final numbers for 2014. Investment in projects that generate electricity from the sun rose 25 percent to $149.6 billion in 2014, its highest share of the total ever.
“The trends are clear: Solar power has reached a tipping point,” said FTTN CEO Sydney Jim. “By next year, many experts are predicting that solar power will reach grid parity across the U.S., opening up tremendous new opportunities to transform the way we generate electricity. There is an unprecedented level of investment capital flowing into solar right now, and we want a piece of it.”
FTTN is already scouting new acquisition and development opportunities in a solar industry poised to explode. Through its wholly owned subsidiary, First Titan Energy, the company is building a diversified asset base of energy properties and is dedicated to the continued development of energy assets throughout North America alongside companies such as Lucas Energy, Inc. (NYSE: LEI), Earthstone Energy, Inc. (NASDAQ: ESTE), Fieldpoint Petroleum Corp. (NYSE: FPP) and Evolution Petroleum Corp. (NYSE: EPM).
For more information on FTTN’s current projects, please visit www.firsttitanenergy.com.
About First Titan Corp.
First Titan Corp., through its wholly owned subsidiary, First Titan Energy, LLC, is committed to the exploration and development of oil and natural gas resources around the globe. The Company continually seeks to partner with energy developers that are pursuing innovative new methods of oil and gas extraction, including the development of new technologies, cleaner methods and unconventional resources.
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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.