Korsair Holdings in Discussion With Municipalities in Bulgaria AboutEnergy Efficient Streetlight Solutions

22.03.13 08:05
Through the partnership with GAIA Consult Ltdand Capital Solar Partners Ltd, Korsair Holdings gets access to awide network of Municipalities and local sub-contractors in order toexecute both projects and investments related to green technologyimplementations.For the Municipality of Plovdiv, Korsair Holdings is exploring thefeasibility of changing the actual lighting fixtures of indoor andoutdoor environments to more energy efficient alternatives, this alsoincludes the streetlights within the Municipality. The partnership isright now finalizing an energy audit analysis in order to properlycalculate the energy savings that can be achieved. The potentialamount of lighting fixtures to be changed, only in the Municipalityof Plovdiv is estimated to approximately 30.000 pieces. According to Nelly Weisbloom, Principal of GAIA Consult: 'Theinterest for energy efficiency applications and specifically PVStreetlight technology has been growing rapidly due to the newadopted EU Directive 2012/27/EU on energy efficiency. Just inBulgaria we have a potential of 264 Municipalities and they all isimposed by the new EU Directive to meet up with the new requirements.Some Municipalities has already started pilot projects for changingtheir traditional streetlights to LED and other more energy efficientfixtures.' Further on Mr. Steven Huynh, CEO of Korsair commented: 'KorsairHoldings is in discussion with a few financial institutions in Europeand Hong Kong in order to develop funding structures for EnergyManagement System Financing or EMS Financing related to LED or PVstreetlight applications, we hope soon to be able to offer potentialclients a package which include technology and a financial leaseprogram.' Mr. Huynh further amends: 'A potential project of 30.000 PVStreetlights is estimated to be worth EUR 30 million includingfinancial costs and operations and maintenance costs.'About Korsair Holdings AGKorsair Holdings AG is a technology holding company with a focus onenvironmental and technical infrastructure projects related torenewable energy and clean technologies. By combining environmentalinnovations with creative management and proven industrialleadership, Korsair Holdings AG strives to stay in the forefront ofthe CleanTech business.Disclaimer; Forward-Looking Statements:This or any other statement from KORSAIR HOLDINGS AG containsforward-looking statements that are based on assumptions andestimations of KORSAIR HOLDINGS AG. Words such as 'estimate,''expect,' 'plan,' 'project' and 'will' and similar expressionsidentify such forward-looking statements. The actual results maydiffer substantially from such assumptions and estimations caused byvarious factors. These forward-looking statements speak only as oftheir dates and have been reasonable at that time. KORSAIR HOLDINGSAG undertakes no obligation to publicly update or revise anyforward-looking statements. This or any other statement from KORSAIRHOLDINGS AG does not constitute an offer or a solicitation of anoffer for the purchase or sale or subscription of any securities ofKorsair Holdings AG in Germany, Switzerland or any other country.This statement constitutes pure information about the company. Eachand any investment into securities, particularly into shares of youngcompanies like KORSAIR HOLINGS AG, bears high risks including a totalloss of the invested amount. Potential investors generally shouldconsult a qualified advisor before taking any investment decision atall. News Source: Marketwire22.03.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------- Language: EnglishCompany: Korsair Holdings AG SwitzerlandPhone: Fax: E-mail: Internet: ISIN: CH0042232998WKN: End of Announcement DGAP News-Service ---------------------------------


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