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Cascade Technologies signs memorandum of understanding with Brisk Solar

Brisk Solar’s solar rooftop PV panels. Image courtesy of Brisk Solar Inc.

Cascade Technologies Corporation is entering the renewable energy industry, starting with signing a memorandum of understanding (MOU) with Canadian solar product manufacturer, Brisk Solar Inc.

Under the terms of the MOU, Cascade Technology will be acquiring the exclusive license and rights to market Brisk solar products in the US and non-exclusive rights to market them globally (excluding Africa). The exclusive rights are subject to performance, which is currently being negotiated as part of the definitive licensing agreement between Cascade Technology and Brisk Solar. The MOU also stipulates that the two companies have 60 days to finalize and execute a definitive agreement. The agreement involves Cascade Technologies issuing a total of six million shares of its common stock to Brisk Solar in exchange for the rights. The agreement covers all of Brisk Solar’s current products, but Cascade Technology’s licensing rights are not necessarily limited to these products.

Brisk Solar’s solar products include its Solar to Go home solar package, the solar phone booth kit, solar water pumps, solar roof top panels, and a solar water heater. Brisk Solar’s PV modules include its BR-A40 thin-film PV modules, the BR-C Series high-efficiency monocrystalline PV modues, and the BR-PC Series high efficiency polycrystalline PV modules.

Brisk Solar is headquartered in Kelowna, British Columbia, Canada, with its manufacturing and assembly facilities in Tultitlan, Mexico, and its research and development facility in Pembroke Pines, Florida. The company is in negotiations to take 40% ownership in manufacturing plants to be built within the US. It is also negotiating to build a 3-megawatt (MW) solar park, with the potential to grow to 20 MW by 2010. It is a member of the Canadian Solar Industries Association. Brisk Solar is a wholly-owned subsidiary of FEC Finance Energy Corporation.

Cascade Technologies Corporation has limited company information. It is listed on the OTCBB as CSDT. Its stock was last traded on March 23, 2009. The stock remained unchanged at 0.15 on the March 23 trading day.


-  Mike R. Lopez

Sources:

Business Wire
¹ http://www.brisksolar.com