Bergamo Acquisition Corp.’s Indian Subsidiary Signs Agreement for $41.5 Million USD & is Initially Funded by Check for $4.3...
25 Octubre 2010 - 11:55AM
Business Wire
Bergamo Acquisition Corp. (Pink Sheets: BGMO) announced today
that Bergamo Harbinsons Energy, Ltd., a Joint Venture Company with
Bergamo Acquisition Corp. USA, has entered into a joint development
agreement with Pilot Technologies, Ltd. of New Delhi, India. The
agreement totals 1.95 Billion Rupees or $41.5 Million USD. Initial
funding was received today in the form of a check for 200 Million
Rupees or $4.3 Million USD. This is based on the most recent
exchange rate.
The handing over of the check in New Delhi is pictured at this
link along with other key details: http://www.bergamocorp.com
Pilot Technologies, Ltd. is an ISO 9001 certified Company which
manufactures and provides technology for SMF Batteries and VRLA
Batteries used in Solar Power Thermal Plants and other power back
up applications. The Company is also in the business of renewable
energy and constructs Solar and Solar Thermal Hybrid Power Projects
in India.
The Turn Key Agreement between the parties is for the sale of a
10MW Solar Hybrid Thermal Power Plant in Nalagarh District,
Himachal Pradesh, India. The agreement was reached between Subhash
ShIshodia, CEO of Bergamo Harbinsons Energy, Ltd. and Mr. K
Gaurav, Executive Director of Business Development for Pilot
Technologies, Ltd. India. Both men are pictured on the Bergamo web
site.
The plant will be procured by Bergamo Harbinsons Energy Ltd. and
will be supplied by a California based solar technology company.
More information on this agreement and other business will be
announced later this week.
Hillard Herzog, President and CEO of Bergamo Acquisition
Corporation, noted, "I am excited to have reached this landmark
agreement with Pilot Technologies, Ltd. of India, and look forward
to continuing to build shareholder value for our Company."
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