LOS ANGELES & GELA, Italy--(BUSINESS WIRE)--Powerstorm ESS (OTC:PSTO) (“Powerstorm” or the “Company”) has announced that they are entering into a Memorandum of Understanding (MOU) to form a strategic alliance with Ascot Industrial Srl. (“Ascot”), a premier manufacturer of high efficiency hybrid diesel and gas generators and hybrid power solutions that provide power to the off-grid and micro-grid markets. Ascot has a proven and successful track record of market adoption highlighted by their product footprint in 48 emergent countries worldwide. This venture promotes the acceleration of both Powerstorm’s and Ascot’s distribution of products into each of their rapidly growing pipeline and customer bases.
Both Mike Freni, CEO of PowerstormESS, and Michele Greca, CEO of Ascot, recognized immediately the commonality in personal and company missions and values, which created an instant accord between the companies. Both companies are passionately committed to humanitarian efforts that will changes the standards of living of many. Equal to their commitment of the betterment of lives is their commitment to a solid upward trajectory of growth within their companies.
As part of the company alliance, Ascot will make available their network of partners and existing customer base that will serve as a distribution arm into emerging markets for the Powerstorm zeroXess unit, a proprietary patent pending solution designed for small home use and perfect for disaster recovery and humanitarian outreach programs.
Additionally, the two companies are partnering on the design and distribution of certain hybrid systems. The joint effort affords Powerstorm the ability to efficiently and rapidly deliver community power into rural and remote regions, as well as to accelerate the introduction of an ESCO program that will enable Powerstorm to act as an off-grid energy operator in the communities. Further, Powerstorm has accepted Ascot as a sole generator supplier to support all of the company’s products.
“Mr. Greca’s passionate leadership and ability to assess and implement global scale opportunities is a tremendous asset to the Powerstorm objectives,” said Mr. Freni. Powerstorm ESS is looking forward to the benefits that the companies as well as the consumers are poised to experience as a direct result of the alliance. “As a result of this joint collaboration, we will be able to increase our presence in emerging markets and furnish systems quicker. The result will be a more rapid deployment of certain hybrid energy storage solutions, allowing us to more effectively and efficiently deliver power to those that need it most,” said Mr. Freni.
Mike Freni has said and continues to say, “it's time to declare energy to be a human right.” It is time to “power the people.” Without energy, there is no way to light our homes, pump water, store vaccines, run computers, operate machinery, or communicate with the rest of the world. Energy is a cornerstone of modern civilization, yet 1.5 billion people still have no access to it. This is unacceptable.
“Our mutual (Ascot and Powerstorm) strengths lie in our abilities to spur innovation in process as well as products. What we do from our foundation up is develop programs on a larger scale that will educate and permanently help create a better standard of living for people in the most remote parts of the world who are part of the future enlightened communities,”” Freni added.
Ascot CEO Dr. Michele Greca stated, “When I initially became involved in emerging markets, it was purely for business reasons. Over time, it became a passion, and now it is our mission to serve these populations in developing areas. This strategic alliance is a wonderful extension of Ascot’s mission to provide the power needed to develop civilization while simultaneously respecting the environment and saving money for operators. When I was first introduced to Mike Freni and the innovative zeroXess product, I immediately realized that there would be many benefits to working with him and integrating Ascot’s technologies with those developed by Powerstorm ESS.” The relationship between the two companies is undoubtedly strengthened by the similarities between the visions of the two cooperating CEOs.
Ascot’s products, created to support their mission, have a successful and documented track record. “Our hybrid power systems, installed in order to power telecom sites in Tanzania, have reduced fuel use by up to 77% against customer baseline at sites with 2kW loads and up to 98% adding alternative energy source such as PV Panels or Wind,” Greca noted. “Today, when I see one of our products powering villages or telecom sites in an off-grid scenario, I feel proud to have contributed to the development of humanity. As they are ‘born’ in an Ascot factory, I like to think of our products as sons who have left for an important humanitarian mission, and from time to time I like to visit them to make sure that they continue to serve the world to the best of their ability.”
Ascot is one of the world’s leading suppliers of customized High Efficiency Energy products and diesel & Gas generators. Established in 1986, Ascot Srl has since expanded its presence in over 48 countries throughout Europe, Africa, the Middle East and Asia. All ASCOT products are designed by an in house team of highly skilled engineers with vast experience in continuously developing new projects, thus enabling us to design and manufacture cost-effective Special Products in accordance with the Customer’s needs. Ascot has supplied more than 34,000 diesel generators and 6,000 hybrid power systems to customers worldwide.
For more info: www.ascotinternational.com
About Powerstorm ESS (Energy Storage Solutions) OTC PSTO
Powerstorm ESS (http://www.powerstormess.com) is based in Los Angeles. Powerstorm ESS has developed a containerized Energy Storage Solution for tower operators in the emerging markets. The foundational and innovative technology from Powerstorm ESS is protected with several patents pending. Powerstorm's optimized containerized plug-and-play solution is CAPEX/OPEX reducing, environmentally sound and easily installed in challenging environments. The system is built and ready to utilize –a "mini-grid" that brings opportunity and quality of life to Off-Grid Communities for the enormous numbers.
This release contains forward-looking statements concerning market developments for our products and corresponding value propositions for our customers. These forward-looking statements reflect Powerstorm's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Powerstorm's assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand.
These statements involve risks and uncertainties that may cause Powerstorm's actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Powerstorm's future performance, please refer to Powerstorm's most recent Annual Information on Form 10K. Readers should not place undue reliance on Powerstorm's forward-looking statements and Powerstorm assumes no obligation to update or release any revisions to these forward looking statements, other than as required under applicable legislation.