Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

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

Continuous roll-process technology for transferring and packaging flexible LSI August 29th, 2016

Meteorite impact on a nano scale August 29th, 2016

Designing ultrasound tools with Lego-like proteins August 29th, 2016

A nanoscale wireless communication system via plasmonic antennas: Greater control affords 'in-plane' transmission of waves at or near visible light August 27th, 2016

Nanomedicine

Designing ultrasound tools with Lego-like proteins August 29th, 2016

Nanofiber scaffolds demonstrate new features in the behavior of stem and cancer cells August 25th, 2016

Johns Hopkins scientists track metabolic pathways to find drug combination for pancreatic cancer August 25th, 2016

50 years after the release of the film 'Fantastic Voyage,' science upstages fiction: Science upstages fiction with nanorobotic agents designed to travel in the human body to treat cancer August 25th, 2016

Announcements

Continuous roll-process technology for transferring and packaging flexible LSI August 29th, 2016

Meteorite impact on a nano scale August 29th, 2016

Designing ultrasound tools with Lego-like proteins August 29th, 2016

A nanoscale wireless communication system via plasmonic antennas: Greater control affords 'in-plane' transmission of waves at or near visible light August 27th, 2016

Financial Reports

Nanometrics Reports Second Quarter 2016 Financial Results July 26th, 2016

Nanobiotix revenue for Q2 2016 July 14th, 2016

Nanometrics to Announce Second Quarter Financial Results on July 26, 2016 July 6th, 2016

Nanometrics to Announce First Quarter Financial Results on April 26, 2016 April 5th, 2016

Energy

New electrical energy storage material shows its power: Nanomaterial combines attributes of both batteries and supercapacitors August 25th, 2016

Lehigh engineer discovers a high-speed nano-avalanche: New findings published in the Journal of Electrochemical Society about the process involving transformations in glass that occur under intense electrical and thermal conditions could lead the way to more energy-efficient glas August 24th, 2016

New flexible material can make any window 'smart' August 23rd, 2016

Researchers reduce expensive noble metals for fuel cell reactions August 22nd, 2016

Aerospace/Space

Meteorite impact on a nano scale August 29th, 2016

University of Puerto Rico and NASA back in the news – XEI reports August 23rd, 2016

To Infinity and Beyond with Nanosatellites August 10th, 2016

Carbon nanotube 'stitches' make stronger, lighter composites: Method to reinforce these materials could help make airplane frames lighter, more damage-resistant August 4th, 2016

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage

Continuous roll-process technology for transferring and packaging flexible LSI August 29th, 2016

Stretchy supercapacitors power wearable electronics August 25th, 2016

New electrical energy storage material shows its power: Nanomaterial combines attributes of both batteries and supercapacitors August 25th, 2016

Lehigh engineer discovers a high-speed nano-avalanche: New findings published in the Journal of Electrochemical Society about the process involving transformations in glass that occur under intense electrical and thermal conditions could lead the way to more energy-efficient glas August 24th, 2016

Alliances/Trade associations/Partnerships/Distributorships

Thomas Swan and NGI announce unique partnership July 28th, 2016

Starpharma initiates new DEP™ drug delivery program with AstraZeneca July 27th, 2016

XEI Scientific Partners with Electron Microscopy Sciences to Promote and Sell its Products in North and South America July 25th, 2016

Leti and Korea Institute of Science and Technology to Explore Collaboration on Advanced Technologies for Digital Era July 14th, 2016

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







Car Brands
Buy website traffic