Elektros, Inc. Intends to Purchase Majority of Arizona Solar Power Energy Inc.

Rhea-AI Summary

Elektros (OTC PINK:ELEK) has signed a Letter of Intent to acquire 60% of Arizona Solar Power Energy Inc. This strategic purchase is aimed at capitalizing on the surge in solar energy demand, promising significant benefits for shareholders and company growth. Arizona Solar Power Energy plans to expand its solar farms and enhance utility-scale solar applications. Elektros seeks to contribute to renewable energy efforts in the U.S., leveraging its position in the electric mobility sector.

Positive

• Acquisition of 60% stake in Arizona Solar Power Energy Inc. strengthens market position.
• Expansion into the solar energy sector aligns with growing demand for renewable energy.

Negative

• None.

Elektros (OTC PINK:ELEK), an Emerging Leader in providing Electric Mobility solutions, Announced That the Company Has Signed a Letter of Intent to Purchase 60% of Arizona Solar Power Energy Inc.

SUNNY ISLES BEACH, FL / ACCESSWIRE / July 20, 2022 / Elektros Inc. is pleased to announce that the company has signed a Letter of Intent to purchase 60% of Arizona Solar Power Energy Inc. With the demand for solar energy at all-time highs, the company is confident that this purchase will bring immense value to the company's shareholders and overall growth.

As a rapidly growing addition to the solar energy and solar farm space, Arizona Solar Power Energy looks forward to this purchase to build and expand its solar farms, otherwise known as large collections of photovoltaic solar panels. Both companies look forward to their success in selling to other energy companies as a utility-scale solar application and disrupting the nation's energy infrastructure to promote renewable energy.

Elektros' mission to support a sustainable and clean future goes far beyond the electric mobility industry. Homes, offices, and schools around the world are making the decision to go take action and go solar in the battle against climate change. Once the purchase is finalized, Arizona Solar Power Energy will install a number of solar panels and begin its bold marketing efforts. The United States has some of the most abundant solar resources in the world and Elektros looks forward to being a part of it.

About Elektros, Inc.

Elektros is an American electric transportation company that innovates mobility solutions for consumers and businesses. The automotive landscape faces existential disruption over the next decade to reach carbon neutrality. Elektros addresses this paradigm shift with mobility technologies that support sustainability for a transformative user experience. Elektros aims to present a compelling and completely new electric vehicle experience known as Elektros Sonic to consumers beginning as early as 2023.

Cautionary Language Concerning Forward-Looking Statements

This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Elektros, Inc.'s products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time to time in Elektros Inc.'s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs, and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting Elektros Inc., please refer to the Company's Securities and Exchange Commission filings, which are available at www.sec.gov. Elektros, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:
Elektros, Inc. IR and Media Inquiries
Email: ElektrosInc@gmail.com
Website: https://elek.world/

SOURCE: Elektros, Inc.

View source version on accesswire.com:
https://www.accesswire.com/709181/Elektros-Inc-Intends-to-Purchase-Majority-of-Arizona-Solar-Power-Energy-Inc

FAQ

What acquisition did Elektros announce on July 20, 2022?

On July 20, 2022, Elektros announced its intent to acquire a 60% stake in Arizona Solar Power Energy Inc.

How will Elektros benefit from acquiring Arizona Solar Power Energy Inc.?

The acquisition is expected to enhance Elektros’ growth potential and shareholder value by tapping into the high demand for solar energy.

What is the significance of the purchase for Elektros shareholders?

The purchase is anticipated to provide immense value to Elektros shareholders, given the growing market for renewable energy.

What is Elektros focused on besides electric mobility?

Besides electric mobility, Elektros is focused on supporting a sustainable future through investments in renewable energy, particularly solar.