SSTP Receives $2 Million From Pemco
Sustainable Power Corp. Announces Receipt of Two Million USD From Pemco Energy AS
Wednesday July 2, 9:32 am ET
BAYTOWN, TX--(MARKET WIRE)--Jul 2, 2008 -- Sustainable Power Corp. (Other OTC:SSTP.PK - News) is pleased to announce today the completion and receipt of Two Million Dollars ($2,000,000.00) from Pemco Energy AS ("Pemco"), who is part of the Pemco Group of Europe, payable pursuant to a Stock Purchase Agreement between the Corporation and Pemco at a price of $0.04 per share; as previously announced.
sustainablepower.com
The equity purchase in Sustainable Power Corp. further exemplifies the Pemco Energy AS commitment and confidence in the SSTP technology, as well as their long-term desire to share in the overall success of Sustainable Power Corp.
John Rivera, Chairman of SSTP, stated, "We continue to work diligently in bringing our technology to market worldwide. We can proudly say that we are striving to be the ultimate green solution to the international energy crisis."
About Pemco Energy
Pemco Energy is part of the Pemco Group, which is a European trading and industrial group with manufacturing, distribution and sale of oil and chemical based products. The Group is represented in 18 countries, and has a major international profile. The Pemco Group realized revenues of approximately $500 million USD last year.
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