LAS VEGAS, March 1, 2012 (GLOBE NEWSWIRE) -- Salamon Group Inc. (OTCBB:SLMU) ("Salamon" or the "Company") is pleased to announce that it has signed a Memorandum of Understanding with Eco Energy Solutions (Australia) Pty Ltd. ("Eco Energy") to purchase the company.
Eco Energy is an Australian owned business specializing in the renewable energy sector. The company specializes in the design, supply, installation, commissioning and maintenance of solar PV, solar hot water, wind turbine and micro/mini hydro projects.
The company provides a fully integrated systems solution service to all aspects of the renewable energy industry and is involved in some of the leading projects in Australia. The company is a major installer of grid connected solar PV through Australasia and the South Pacific. As at the end of February 2012 the company had installed 2630 domestic systems through its contract which started in May 2010. The contract covers all of the State of Tasmania and all of Central Victoria. Its main base for central Victoria is Ballarat with a sub base in Bendigo. All Tasmanian installs are carried out from its Head Office at Grove.
Eco Energy recently completed the installation of one of Australia's largest ground mounted, flat plate, grid-connected medium-scale solar PV projects at Ballarat Airport. The project, which was part of the $42 million Central Victoria Solar Cities project, involved the installation of almost 2000 SHARP 180 watt photovoltaic solar panels in both fixed and tracking array formats.
Eco Energy operates a full Health, Safety and Environment process on all its projects. Its "one stop shop" methodology allows it to take any project from conception through to design, supply, installation and commissioning.
About Eco Energy Solutions
Eco Energy Solutions (Australia) Pty Ltd is a dynamic Australian based renewable energy company specializing in the design, supply, installation, commissioning and maintenance of Solar PV with integrated power storage for uninterrupted power supply for commercial and remote locations. http://www.ecoenergysolutions.com.au/
About Salamon Group
Salamon Group Inc., through its Sunlogics Power Fund Management Inc. division, is a solar energy project company specializing in renewable energy power projects. It is a project-acquiring partner of Sunlogics Plc and its Subsidiary as well as other third party project developers.
This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "expects," "plans," "estimates," "intends," "believes," "could," "might," "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Salamon Group Inc. to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties which are described under the caption "Note Regarding Forward-looking Statements" and "Key Information - Risk Factors" and elsewhere in Salamon Group Inc.'s most recent Annual Report as filed on EDGAR at www.sec.gov. The risk factors identified in Salamon Group Inc. Annual Report are not intended to represent a complete list of factors that could affect Salamon Group Inc. Accordingly, readers should not place undue reliance on forward-looking statements. Salamon Group Inc. does not assume any obligation to update the forward-looking information contained in this press release.