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
