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

Harris & Harris Group Notes Announcements by Its Portfolio Companies During the Third Quarter of 2016 September 30th, 2016

INVECAS to Enable ASIC Designs for Tomorrows Intelligent Systems on GLOBALFOUNDRIES' FDX Technology: INVECAS to Collaborate with GLOBALFOUNDRIES to Provide IP and End-to-End ASIC Design Services on 22FDX and 12FDX Technologies September 30th, 2016

How to power up graphene implants without frying cells: New analysis finds way to safely conduct heat from graphene to biological tissues September 30th, 2016

Innovation in Nanotechnology is Focus of Symposium: Annual event brings international experts to Northwestern Oct. 6 September 29th, 2016

Nanomedicine

Harris & Harris Group Notes Announcements by Its Portfolio Companies During the Third Quarter of 2016 September 30th, 2016

How to power up graphene implants without frying cells: New analysis finds way to safely conduct heat from graphene to biological tissues September 30th, 2016

Nanosensors could help determine tumors ability to remodel tissue: Measuring enzyme levels could help doctors select appropriate treatments September 29th, 2016

Fighting cancer with sticky nanoparticles September 27th, 2016

Announcements

Harris & Harris Group Notes Announcements by Its Portfolio Companies During the Third Quarter of 2016 September 30th, 2016

INVECAS to Enable ASIC Designs for Tomorrows Intelligent Systems on GLOBALFOUNDRIES' FDX Technology: INVECAS to Collaborate with GLOBALFOUNDRIES to Provide IP and End-to-End ASIC Design Services on 22FDX and 12FDX Technologies September 30th, 2016

How to power up graphene implants without frying cells: New analysis finds way to safely conduct heat from graphene to biological tissues September 30th, 2016

Innovation in Nanotechnology is Focus of Symposium: Annual event brings international experts to Northwestern Oct. 6 September 29th, 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

Cambrios at CEATEC - Japan 2016 September 29th, 2016

Crystalline Fault Lines Provide Pathway for Solar Cell Current: New tomographic AFM imaging technique reveals that microstructural defects, generally thought to be detrimental, actually improve conductivity in cadmium telluride solar cells September 26th, 2016

Researchers at the Catalan Institute of Nanoscience and Nanotechnology show that bending semiconductors generates electricity September 26th, 2016

Semiconducting inorganic double helix: New flexible semiconductor for electronics, solar technology and photo catalysis September 15th, 2016

Aerospace/Space

New material to revolutionize water proofing September 12th, 2016

New breed of optical soliton wave discovered September 9th, 2016

Nanodiamonds in an instant: Rice University-led team morphs nanotubes into tougher carbon for spacecraft, satellites September 6th, 2016

Meteorite impact on a nano scale August 29th, 2016

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

Picosun patents ALD nanolaminate to prevent electronics from overheating September 28th, 2016

Semiconducting inorganic double helix: New flexible semiconductor for electronics, solar technology and photo catalysis September 15th, 2016

Researchers design solids that control heat with spinning superatoms: Carnegie Mellon University and Columbia University collaborators discover the cause of vastly different thermal conductivities in superatomic structural analogues September 8th, 2016

Fish 'biowaste' converted to piezoelectric energy harvesters: Jadavpur University researchers in India devised a way to recycle fish byproducts into an energy harvester for self-powered electronics September 8th, 2016

Alliances/Trade associations/Partnerships/Distributorships

INVECAS to Enable ASIC Designs for Tomorrows Intelligent Systems on GLOBALFOUNDRIES' FDX Technology: INVECAS to Collaborate with GLOBALFOUNDRIES to Provide IP and End-to-End ASIC Design Services on 22FDX and 12FDX Technologies September 30th, 2016

PHENOMEN is a FET-Open Research Project aiming to lay the foundations a new information technology September 19th, 2016

SEMI and MSIG Join Together in Strategic Association Partnership: MEMS & Sensors Industry Group Brings New MEMS and Sensors Community to SEMI to Increase Combined Member Value September 15th, 2016

Leti and Oberthur Technologies Partner to Explore New Solutions in Fast-growing Digital Era September 12th, 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