KELOWNA, British Columbia, Feb. 15, 2013 (GLOBE NEWSWIRE) -- DayStar Technologies, Inc. (Nasdaq:DSTI) announces completion of its first acquisition from Avatar Solar of a Hawaiian solar park. The Company's agreement with Avatar is to acquire all its operational solar parks throughout the State of Hawaii. DayStar paid cash and common shares issued at $2.00 for this solar park.
Lorne Roseborough, DayStar's President, stated, "This is the first completed transaction in DayStar's strategy to acquire fully operational projects. We are looking at geographical regions where we plan to expand services to build and operate projects as a solar power provider, very similar to companies like SolarCity. The big difference is that DayStar is actively looking to own and operate projects long-term, and has plans to change how renewable energy is provided long-term with our investment in Premier Global.
DayStar Technologies, Inc. (DSTI) is a developer of solar photovoltaic products and has assembled a world-class team of project engineers, and industry finance professionals, to facilitate the complete development of renewable energy projects throughout the world. DayStar is currently embarking on a strategy of strategic partnerships to enter new markets within the global renewal energy industry including ownership and construction of solar and renewable power plants. For more information, visit the DayStar website at http://www.daystartech.com/.
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Source:DayStar Technologies, Inc.