I'm surprised this hasn't been posted on Vortex yet. This is a fairly significant development for cold fusion. Commercial capital is starting to flow into cold fusion in a meaningful way.
Solar Announces Intention to Acquire D2Fusion Inc.
Thursday June 2, 9:00 am ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--June 2, 2005--Solar Energy Limited (OTCBB:SLRE.OB - News; "Solar") today announced its intention to acquire 100% of D2Fusion, Inc. ("D2Fusion"). Solar has advanced a cash deposit to D2Fusion in anticipation of the acquisition. D2Fusion is a research and development company staffed by scientists and engineers working toward the delivery of proprietary solid-state fusion aimed at entry level heat and energy applications for homes and industry.Solid-state fusion is a technology more widely recognized under the name "cold-fusion." Unlike the reactions in "cold-fusion" D2Fusion technology uses much simpler and more reliable solid state processes more akin to high temperature super-conductor physics to produce and control radiation-free fusion reactions. In this simplest form of fusion two hydrogen atoms which are contained and constrained under solid state conditions fuse to form a single helium atom. Each new helium atom created is accompanied, as Einstein's equation E=Mc2 predicted, by an enormous energy release. To put this into a more common perspective under ideal conditions 1 gram of hydrogen fuel holds the equivalent to billions of watts of energy.
Russ George and Dr. Tom Passell (formerly of EPRI -- the Electric Power Research Institute), who head the Palo Alto based company, have been involved with solid state fusion research since 1989. George's successful experimental prototypes have been tested at Stanford Research Institute ("SRI") with EPRI's assistance for several years. The immediate intention of D2Fusion is to produce kilowatt scale thermal prototypes which will be further tested and refined by collaborating research groups in the Silicon Valley, Los Alamos, the US Navy, and Frascati, Italy. D2Fusion's ultimate goal is to produce heat and electricity at a fraction of today's cost, both achieved with no emissions.
Solar is well aware of the controversy surrounding "cold fusion" technology. However, Solar believes that there is sufficient global evidence that the risk/reward ratio merits investment. As D2Fusion's prototype technology is scaled to commercial size it will help solve much of the world's energy, water, and pollution problems.
The science and news surrounding solid-state fusion and D2Fusion can be viewed on the company's website at www.D2Fusion.com.
Over the next few months, Solar will focus on fulfilling its obligations to purchase D2Fusion as well as concluding its agreement to acquire Planktos, Inc.
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.
Contact:Solar Energy Limited Peter Tsaparas, P.Eng, 604-669-4771 or D2Fusion, Inc. Russ George, 650-563-9094
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