Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > MSGI Energy is Formed, Establishing Strategic Partnership with Franklin Energy

Abstract:
MSGI Security Solutions Inc. (MSGI 0.18, -0.01, -3.85%) today reported that it has formed MSGI Energy Inc. and entered into a definitive long-term strategic partnership with Franklin Energy, Middletown, CT, to create an energy, and energy related sciences company positioned to implement proprietary technologies in the Geothermal and Solar sectors nationally and globally.

MSGI Energy is Formed, Establishing Strategic Partnership with Franklin Energy

New York, NY | Posted on March 17th, 2010

Through several Space Act Agreements, the newly formed group is positioned to take a leading role in bringing into the commercial/private sector, proprietary NASA technologies including advancements in energy production, battery (Storage) technologies, nanotechnology and health related advancements.

By combining resources and best practices, the strategic partnership will enhance operations and create efficiencies at all levels of the new company, including generation, transmission and distribution.

Earlier this week MSGI announced that a Note Purchase and Sale Agreement was executed between Madison And Wall Investments LLC. and the previous holders of all convertible notes from December 2006 through March 2009. The buyer agreed to convert all of these debt instruments valued at $12 million into Preferred Stock of MSGI thus extinguishing the entire debt. They further agreed not to trade the stock of MSGI before 12/31/10.

Through MSGI Energy, which will be majority owned by MSGI and minority owned by Franklin Energy, the company will strive to become the first fully integrated renewable energy company in America by delivering Solar Power and Geothermal Energy onto the grid in a distributed method. MSGI Energy and Franklin Energy will form and operate solar farms across America fueled by stimulus grants provided by the American Recovery and Reinvestment Act of 2009. This new Renewable Energy platform will be the commercialization vehicle for the NASA Solar Energy innovations currently under development at Ames Research Center in Mountain View, California.

Franklin Energy is an affiliate of Madison and Wall Investments and both businesses share common ownership. Franklin Energy is a structured company established by Franklin Power and Light, another affiliated company in the deregulated electrical energy markets in the United States. The company (www.franklinpl.com) launched operations in 2007 to achieve customer acquisition through an aggressive roll-up of existing suppliers, aggregators and network marketing throughout all of the deregulated markets.

Jeremy Barbera, Chairman and CEO of MSGI commented, "Beginning with our NASA partnership from this fall, followed by the recapitalization of the company, and now by joining forces with Franklin Energy, we have successfully rebirthed the company in a growing sustainable industry. MSGI and Franklin Energy are in a position to take a leadership role in the utilization of emerging technology, while creating new jobs, expanding infrastructure and generating clean renewable energy. We are a perfect example of why stimulus grants have been made available - to innovate and stimulate the economy; one company at a time. We have joined with best of breed partners and can now begin to reward our shareholders with the most tangible outcome: results that will yield material financial returns in the near term."

"Our first priority will be to restore the Company's listing on the NASDAQ Stock Exchange," added Barbera.

Christopher Plummer, Chairman and CEO of Franklin Energy commented, "The combination of Franklin Energy and MSGI Energy will create a rock-solid portfolio of electric generation businesses, increasing value for our shareholders immediately and in the longer term. Just as significant as the strong strategic fit of our companies is the cultural fit. Franklin Energy and MSGI Energy share compatible values, operating philosophies and views of the future. The increased scope and scale will make the combined company a major industry leader with a strong balance sheet and a low-cost generation portfolio. Both companies are known for operational excellence as well as strong customer service and reliability.

"We are creating a top-tier energy company that will assume a key leadership role in the future of our industry while delivering benefits to all of our shareholders. Moreover, with the vast real estate land holdings of Franklin Energy and its affiliated companies, we look forward to an aggressive expansion of Solar and Geothermal Operations in the coming year. This combination creates a stronger platform from which to continue our leadership in finding practical solutions to the environmental challenges facing our industry and country," added Plummer.

Kenneth Roque-Bragg Vice President, Corporate Affairs, Franklin Energy stated, "This union is a great strategic fit and it leaves us well positioned for continued consolidation in the energy sector, as both of the electric businesses will have the scale to stand alone. Importantly, it also provides an immediate and significant improvement for our merchant operations and enhances their future prospects."

####

About MSGI Security Solutions
MSGI Security Solutions, Inc. is a leading international provider of proprietary solutions to private sector and government organizations. MSGI is developing a combination of innovative emerging businesses that commercialize technology. The Company is based in New York City and San Francisco. More information on MSGI is available on the company's website at www.msgisecurity.com. MSGI is a significant stakeholder in Current Technology Corporation.

For more information, please click here

Contacts:
Jeremy Barbera
415-971-4435

Copyright © Business Wire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

JPK announces expansion of its global sales and service activities in China and USA April 15th, 2014

Nanobiotix Appoints Thierry Otin as Head of Manufacturing and Supply April 15th, 2014

PAM-XIAMEN Offers UV LED wafer April 15th, 2014

Engineers develop new materials for hydrogen storage April 15th, 2014

Nanomedicine

Nanobiotix Appoints Thierry Otin as Head of Manufacturing and Supply April 15th, 2014

PAM-XIAMEN Offers UV LED wafer April 15th, 2014

Nanocrystalline cellulose modified into an efficient viral inhibitor April 15th, 2014

Targeting cancer with a triple threat: MIT chemists design nanoparticles that can deliver three cancer drugs at a time April 15th, 2014

Announcements

Tiny particles could help verify goods: Chemical engineers hope smartphone-readable microparticles could crack down on counterfeiting April 15th, 2014

A molecular approach to solar power: Switchable material could harness the power of the sun — even when it’s not shining April 15th, 2014

Targeting cancer with a triple threat: MIT chemists design nanoparticles that can deliver three cancer drugs at a time April 15th, 2014

Biologists Develop Nanosensors to Visualize Movements and Distribution of Plant Stress Hormone April 15th, 2014

Financial Reports

Nanometrics to Announce First Quarter Financial Results on April 29, 2014 April 9th, 2014

Acid folic was used in the production of the nanogel as targeting agent in drug delivery. The nanogel can be used in the treatment of cancer as a stable nanocarrier. Stability of nanocarriers is an important issue in target delivery mechanisms. Most of nanocarriers, due to their March 17th, 2014

Arrowhead Reports Fiscal 2014 First Quarter Financial Results - Conference Call Today at 4:30 p.m. Eastern Time February 4th, 2014

Arrowhead to Report Fiscal 2014 First Quarter Financial Results - Conference Call Scheduled for Tuesday, February 4, 2014 January 28th, 2014

Energy

Engineers develop new materials for hydrogen storage April 15th, 2014

A molecular approach to solar power: Switchable material could harness the power of the sun — even when it’s not shining April 15th, 2014

Shiny quantum dots brighten future of solar cells: Photovoltaic solar-panel windows could be next for your house April 14th, 2014

Scientists open door to better solar cells, superconductors and hard-drives: Research enhances understanding of materials interfaces April 14th, 2014

Aerospace/Space

Tiny particles could help verify goods: Chemical engineers hope smartphone-readable microparticles could crack down on counterfeiting April 15th, 2014

NASA Engineers Prepare Game Changing Cryotank for Testing April 9th, 2014

Space Industry Leaders Countdown To Space Tech Expo 2014 – Opening Next Week: Space Tech Expo and Conference 2014 opens its doors at the Long Beach Convention Center, Long Beach April 1 – 3 March 30th, 2014

Micro systems with big commercial potential featured in SPIE journal: Special section in Journal of Micro/Nanolithography, MEMS, and MOEMS highlights emerging MOEMS technologies March 25th, 2014

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics

Catching the (Invisible) Wave: UC Santa Barbara researchers create a unique semiconductor that manipulates light in the invisible infrared/terahertz range, paving the way for new and enhanced applications April 11th, 2014

Nanotech Business Review 2013-2014 April 9th, 2014

Preview of Hands-on Nanotechnology Demos at ‘Chemistry of Wine’ Fundraiser to Show Nanotech Magic April 8th, 2014

Trees go high-tech: process turns cellulose into energy storage devices April 7th, 2014

Alliances/Partnerships/Distributorships

Virus structure inspires novel understanding of onion-like carbon nanoparticles April 10th, 2014

Peer Reviewed and Approved for Science by the the Washington Academy of Sciences April 3rd, 2014

New JEOL-Nikon MiXcroscopy Correlative Imaging Solution March 27th, 2014

Quantum Dots Take Center Stage at Inaugural Event: QD Vision Co-Founder and CTO Dr. Seth Coe-Sullivan to Chair First Quantum Dots Forum, March 26, 2014, San Diego, CA March 25th, 2014

NanoNews-Digest
The latest news from around the world, FREE







  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE