QualityStocks would like to highlight ONYX Service & Solutions, Inc., (NASDAQ: ONYX), provider of alternative energy solutions for the solar industry, including medium and large scale solar construction projects and technologies.
In the
company’s news yesterday,
Onyx Service and Solutions Inc., announced that, in response to positive reception of its new “Plug-N-Play” all-in-one solar panel, the company is reworking its distribution arrangements in Peru to include the new panel.
The Plug-N-Play panels were designed for the “do-it-yourself” market, free of electrical grid association, wiring or typical installation requirements. The panels are attached with four screws to any surface and can be immediately put to use to power a computer, fan, light or medical device.
ONYX is targeting Peru as an ideal candidate for solar power and specifically the Plug-N-Play panel because of the speed and ease with which the panel can be deployed in remote areas that have no grid or access to electricity. ONYX has executed letters of intent and is developing distribution logistics with 2RR SAC in Lima, Peru, as well as with RET in Chicaylo, Peru
The company said it anticipates that its first shipments of the new Plug-N-Play panels will be shipped to Peru and Honduras. Accordingly, ONYX is retracting development efforts for its Louisiana project to focus on the two regions.
“ONYX is so happy to have two major home runs on its hands right now. The new Plug-N-Play panel’s appeal is warranting a large part of our focus to properly respond to what appears to be vast demand for the new product. Our successful decision to focus on competing with diesel-powered electricity in Latin America and the Caribbean is also demanding a substantial amount of company resources for proper follow through,” Malcolm Burleson, president of ONYX stated in the press release. “As such, we have made the decision to pull back on our development of the 6.1 MW project in Louisiana. This will allow us to focus on the areas that have the most economic potential for the company.”
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