NEW YORK, June 09, 2017 /Globenewswire/– Power Clouds Inc. (www.powercloudsinc.com) (OTC:PWCL) a global renewable energy company, today announces that it will present its business and growth strategies to investors at the 2017 Marcum MicroCap Conference at 10:00am on June 15 in the Winter Garden breakout room. The Marcum conference is a highlight on the annual investment community calendar in New York City.
Power Clouds is an international green energy producer that develops, owns and operates a diverse portfolio of international PV solar parks that connect directly to national power grids on long-term supply contracts that benefit from government subsidies. These assets provide guaranteed income streams for 15 years or longer.
PWCL currently has 6MW of solar parks operational in Romania and 1.7MW operational in Italy from recent acquisitions, with a further 20MW under contract and letter-of-intent for close there in 2017. The Company is currently participating in tender processes for an additional 38MW in Italy, is in active discussions to acquire 19MW in the US and is exploring development projects in Japan.
Vincent Browne, Chief Financial Officer of PWCL, said, “We are looking forward to discussing the exciting developments we have made in the business over the past twelve months where revenues are double what they were a year ago for 2017, the business is EBITDA positive on an ongoing basis, and enjoys up to 15 years of predictable revenues contracted under government contracts for assets owned. We are now moving to the next phase in our stated mission to build the world’s largest distributed and connected green energy parks that together produce clean energy 24 hours a day, 7 days a week.”
The Marcum MicroCap Conference (www.marcummicrocap.com) is a nationally recognized forum for publicly traded companies with less than $500 million in market capitalization to network with fund managers and high net worth investors who focus on small cap equities. More than 2,000 investors and other participants from every segment of the microcap marketplace attend each year, including venture and lower middle-market private equity investors, institutional investors, directors, investment bankers, and buy- and sell-side analysts, as well as senior executive teams from presenting companies and service providers to the microcap marketplace.
The conference is presented by Marcum LLP, a top national accounting and advisory firm registered with the Public Company Accounting Oversight Board (PCAOB). Marcum’s Assurance Division provides the most up-to-date service and guidance on SEC accounting and reporting issues. Services include Financial Statement Audits in accordance with PCAOB standards; Tax Compliance and Advisory Services; Due Diligence; Agreed-Upon Procedures and Other Attest Work; Internal Audit Services; Sarbanes-Oxley Section 404 Compliance Services and Software; Technical Accounting Assistance; and IPO Assistance. For more information, visit www.marcumllp.com
About Power Clouds Inc.
Power Clouds Inc. is an international green energy producer that develops, owns and operates a diverse portfolio of international PV solar parks that connect directly to national power grids on long-term supply contracts that benefit from government subsidies. These assets provide guaranteed income streams for 15 years or longer. PWCL’s mission is to build the world’s largest distributed and connected green energy parks that together produce clean energy 24 hours a day, 7 days a week. PWCL creates value for investors by developing, owning and operating clean energy power plants in multiple countries where the combination of regulatory, economic and environment elements are maximized. It currently has activities in Europe & Asia. Global focus means operations are not limited to any one geography or single commercial model or regulatory influence. For more information, visit www.powercloudsinc.com
Forward Looking Statement
This press release contains forward-looking statements. Words such as “expects,” “intends,” “believes,” and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company’s filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Vincent Browne, CFO