EnergyOne Technologies Signs Letter of Intent to Build Solar Station
LEXINGTON, Ky.--(March 1, 2011) - All State Properties Holdings, Inc.’s (OTCQB: ATPT) EnergyOne Technologies, Inc., a renewable energy developer, signed a Letter of Intent with a private party to build .25 megawatt solar station on in Frazer Park, California. EnergyOne plans to use it’s newly patented Photovoltaic-Capacitive Battery Storage™ (PCBS) solar panels that integrate a thin film solar cell with a thin film ultra-capacitor and a thin film Nickel Zinc storage battery all in a single multi-layered unit and will have the capability to store the system’s daily output inside the panels. This will allow access to solar energy for night time use or on cloudy days. The solar output, enough to power over 200 homes, will be sold under long term power contracts. EnergyOne plans to install up to 2MW of Nickel Zinc-Battery energy storage systems that will be charged with power from the grid at night and sold back to the utility during peak demand hours. EnergyOne will own, build, and operate the solar stations.
EnergyOne estimates the cost of the solar station and energy storage units to be approximately $2.25 million. EnergyOne projects it could start construction by end of 2011. Shorebreak Energy Developers, LLC will provide engineering, construction and power contract services for the project. VS Technology, Inc. will perform energy storage and battery management system oversight. A megawatt is enough power for about 800 U.S. homes, according to the Energy Information Administration.
About All State Properties Holdings, Inc.
All State Properties Holdings, Inc. (OTCQB: ATPT) is a publicly traded company whose primary objective is to seek out and develop opportunities in the energy sector. It focuses on the acquisition, exploration, and development of mineral reserves through asset purchases or company transactions, and on developing opportunities in the Green/Renewable Energy Sector. The company is based in Lexington, Kentucky.
All State Properties Holdings believes it is well prepared to succeed in both its geographic and strategic focus areas based on the new ideas and extensive experience of its management team. One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. All State Properties Holdings, Inc. urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission. For further company information, please visit www.energyonetech.com.
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