C2SAT AND MRT TODAY ANNOUNCE A LETTER OF INTENT (LOI)
(NGM:C2ST)
Stockholm, Sweden, 04 March 2011 – C2SAT (NGM – Stock Exchange, C2ST), a supplier of maritime VSAT antenna systems, has signed a Letter Of Intent (LOI) with Multi Resource Technologie GmbH & Co (MRT), Germany, a supplier of climate neutral energy solutions utilizing solar and wind power, to combine the C2SAT stabilised system with the MRT Solar Dish for generation of electricity.
The C2SAT technology has many potential areas of application. On a regular basis, C2SAT receives and evaluates proposals for co-operations based on integrating C2SAT technology into other vendor’s applications. C2SATs strategy is to focus on C2SATs core business, i.e. maritime VSAT antennas, and become one of the three leading global suppliers of maritime VSAT antennas.
The proposal from MRT has nonetheless been deemed to have a commercial potential and to be viable since the project requires limited development and adaptation of already current C2SAT technology and C2SATs role as a supplier to MRT. The project now initiated aims at combining the technologies developed by the two companies into a state-of-the-art, cost efficient and commercial MRT Solar Dish product based on C2SATs robot technology, recognized for its robust features and high pointing accuracy, and MRT Solar Dish and energy storage technology.
The initial test and verification phase, including Proof Of Concept (POC) installations is expected to be finalized already within the next three to six months targeting MRT being able to present a commercial product before year-end 2011.
“At C2SAT we are both honoured and excited by the collaboration with MRT. Their business strategy of combining reliable and proven technologies into unique combinations for climate neutral energy solutions in which we will supply our robot solution, is a market that was only until very recently unchartered territory for us”, says Fredrik Nygren, CEO C2SAT.
About MRT
Multi Resource Technologie is a German company focusing on balancing the users energy demand and the power generation. MRT transform electricity into Hydrogen, a flexible energy and all the un-used energy that is produced will be stored for later use. All the single energy generating systems have an onboard computing for energy storage and energy distribution to manage decentralized or on grid solutions. Together with environment friendly LED lightning devices, air conditioning (heating and cooling) from waste energy, MRT offers an ideal solution to reduce the Co2 and costs.
(www.solar-24.biz)
About C2SAT
Headquartered in Solna, Sweden, with a subsidiary in Singapore, and a BSO in Shanghai, China, C2SAT develops, manufactures and supplies innovative 4-axes stabilised VSAT antenna systems that provide marine vessels in motion with on-line two-way satellite broadband communication. The system is protected by a series of global patents. C2SAT holding AB (publ.) is listed on the NGM Stock Exchange with the ticker C2ST and with Mangold as market maker. C2SAT is a registered trademark. (www.C2SAT.com)
For additional information, please contact:
Fredrik Nygren, CEO C2SAT
C2SAT
Dalvägen 16, SE-169 56 Solna, Sweden
Tel: +46 8 705 95 00, fredrik.nygren@C2SAT.se
Lars Davås, CFO & IR contact C2SAT
C2SAT
Dalvägen 16, SE-169 56 Solna, Sweden
Tel: +46 8 705 95 13, lars.davas@c2sat.se
Prof. Dr Uwe Hager, CEO Multi Resource Technologie GMBH & Co. KG
MRT
Mühlenweg 5, 86860 Jengen, Germany
Tel: +49 82 41 50 19 19 4, uwe.hager@solar-24.biz