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Universal Communication Systems Inc. Subsidiary Millennium Electric T.O.U. Limited Signs International Agreement to Erect an Initial 50 kW Grid-Connected Rooftop PV Solar System for Local Spanish Company `Prom Sol Enrg`
TUESDAY, FEBRUARY 08, 2005 11:14 AM
- Market Wire




UCSY
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ALICANTE, SPAIN, Feb. 08, 2005 (MARKET WIRE via COMTEX) -- Universal Communication Systems (UCSY) Director Mr. Ami Elazari today issued the following statement: "I am pleased to announce that we have concluded our negotiations, signed an agreement and have entered into a major sale and distribution agreement with Prom Sol Enrg., a local well established Spanish company operating in the field of energy. The transaction calls for the establishment of a total of 10 rooftop, grid-connected 100 kW PV Solar Energy Systems using our patented, state-of-the-art photovoltaic technology. This first agreement calls for an initial payment of $320,000 for the first phase, being a 50 kW system to be installed."

In addition, Prom Sol Enrg. has contracted to purchase $50,000 in value for a container of PV Solar Products. Under the terms of the agreement, Millennium Electric TOU Limited will install its patented Multi Solar System (MSS) in a private area on the shores of Spain. This is part of a broader agreement with the local Spanish company which is a division of the Goldman Group (a group of companies operating in Europe, and originating from Kazakhstan and Moscow), that will be expanded up to a total of a 1 MW PV grid-connected system in Spain, valued at Euro 6 million.

Mr. Ami Elazari went on to state: "This distribution agreement that we have concluded here in Spain is part of the basic Millennium and UCSY strategy, namely to obtain and establish a major foothold in select countries worldwide to locally distribute our exclusive patented Photovoltaic MSS systems and products. We believe that we have found a very good industry partner in Prom Sol Enrg. and the Goldman Group, one that will be instrumental in helping us build our global markets. The market for Photovoltaic Solar Energy products and services continues to grow very fast, and our company will continue to grow our market share, in this multi-billion-dollar industry."

Mr. Alexander Goldman, CEO of the Goldman Group, issued the following statement: "We are very happy to work in cooperation with Millennium Electric and utilize their unique technologies in photovoltaics while introducing them into the Spanish market. This 50 kW grid-connected rooftop power station is just the first of many more to come."

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