Welcome to our dedicated page for Principal Solar news (Ticker: PSWW), a resource for investors and traders seeking the latest updates and insights on Principal Solar stock.
Principal Solar, Inc. (OTC Pink: PSWW) is frequently featured in energy-sector news for its activities as a strategic investor in organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors, as well as its role as an investor in and acquirer and operator of undervalued petroleum-producing properties. News coverage of PSWW often centers on its portfolio relationships, joint ventures, and corporate strategy updates.
Readers following PSWW news can find announcements about heavy electric vehicle and hybrid truck conversion initiatives involving eTruck Transportation, a portfolio company that develops heavy vehicle EV conversion technology and powertrains for existing Class 6 and Class 8 trucks. Coverage also includes Principal Solar’s joint venture with Executive Logistics & Transportation, which aims to expand logistics operations, grow a fleet of Class 8 trucks, and enable hybrid conversions using systems supplied by eTruck.
Another recurring news theme involves Principal Solar’s oil and gas activities. The company has released updates on its partnership with Aramis, LLC to rework eight oil wells in Caldwell County, Texas, including operational progress toward returning wells to production. It has also discussed a joint venture focused on acquiring controlling working interest and assets in the Minerva-Rockdale Oil Field, which the company characterizes as a potential source of revenue and future development opportunities.
Corporate and regulatory developments also appear in PSWW news items. Examples include letters to shareholders outlining a refined strategic focus, commentary on SEC actions affecting the company’s financing options, and announcements about third-party analyst coverage and research reports. Investors and observers can use the PSWW news feed to track these disclosures and follow the company’s evolving mix of energy, transportation, and resource-focused initiatives.
Principal Solar (OTC Pink: PSWW) announced plans to spin off its oil and gas operations into a new publicly-traded entity named E-3 Petroleum. This move comes amid high oil and natural gas prices, with expectations for continued strength in the market. The spin-off aims to allow both Principal Solar and E-3 to focus on their core operations and potentially improve share performance by offsetting past dilution. Initial funding will be sought through an S-1 registration statement, with current shareholders expected to retain full ownership of E-3.
Principal Solar (OTC Pink: PSWW) has announced plans to spin-off its E-3 Petroleum subsidiary into a separate public company. The decision aims to enhance focus on logistics and electric vehicle (EV) technologies. K. Bryce 'Rick' Toussaint, the Chairman and CEO, believes this will increase stakeholder value by allowing both entities to concentrate on their core operations. The spin-off will be led by current COO Anthony Lerner, emphasizing an eco-friendly approach to refurbishing orphaned wells. This decision is subject to customary regulatory approvals.
Principal Solar, Inc. (OTC Pink: PSWW) announced a Cooperative Research and Development Agreement with Triad Pro Innovators, Inc. to explore power storage solutions for the Electric Vehicle (EV) industry. The partnership aims to utilize Triad Pro's innovative eCell technology, which offers rapid charging capabilities and a lifespan exceeding 30,000 cycles, enhancing maintenance efficiency. This agreement aligns with Principal's strategy to invest in sustainable technologies and cater to the growing demand in the EV market.
Principal Solar, Inc. (OTC Pink: PSWW) provided a shareholder update highlighting its upcoming special board strategy meeting and the finalization of the Double-H Services acquisition. The meeting will focus on adding key executives to the management team and exploring non-dilutive financing options. Additionally, opportunities for its oil and gas subsidiary, E-3 Petroleum, are being evaluated in light of high oil prices. Chairman and CEO K. Bryce “Rick” Toussaint emphasized the board's commitment to growth and stakeholder value.
Principal Solar (OTC Pink: PSWW) has successfully closed its Regulation A Plus equity offering, raising US$8.65 million by selling 96.6 million shares at US$0.0895 each. The offering began on November 25, 2020, and concluded on February 16, 2022. Proceeds will be used to reduce debt and invest in oil and gas leases, extraction technologies, and electric vehicle technologies. CEO K. Bryce Toussaint expressed optimism about the company's future and welcomed new investors.
Interview Scheduled for 10am EST on Thursday, January 20, 2022
Principal Solar, Inc. (OTC Pink: PSWW) announces an interview with Chairman and CEO K. Bryce “Rick” Toussaint, to be held on January 20, 2022. The discussion will focus on the company's initiatives, including Double-H Services and Heavy Electric Vehicles, along with market outlooks for 2022. The interview will be available for listening on January 24, 2022, via Stock Day Media's website. Principal Solar is actively investing in clean energy and petroleum properties.
Principal Solar, Inc. (OTC Pink: PSWW) has shared an update on its strategic growth initiatives targeting the renewable energy and environmentally friendly oil and gas sectors. The company has finalized the acquisition of Double H Services, which will facilitate a transition to more environmentally friendly logistics solutions. Additionally, its subsidiary, E-3 Petroleum, is focused on remediating abandoned oil wells. The company's EV subsidiary, Nexteal, has made investments in heavy electric vehicle technologies, with positive market expectations for 2022.
Principal Solar, Inc. (PSWW) has outlined its initial activities for 2022, focusing on enhancing shareholder communication and completing its fiscal audits for 2019 and 2020. The Company plans to release a detailed letter to shareholders and conduct an audio interview with Chairman and CEO K. Bryce “Rick” Toussaint. The audit, managed by Whitley Penn, is nearing completion, with reports expected early in Q1 2022. The management expresses optimism for the year, highlighting ongoing communications with auditors to ensure transparency.
Principal Solar (PSWW) announced a strategic divestiture of its investment in IntelliMedia/Apollo Green, converting it into a note with capital return and interest. This decision aligns with the company's goal to enhance stakeholder value and will facilitate the acquisition of logistics assets and advance its partnership with IPLTech Electric in the heavy electric vehicle sector. Additionally, the company is exploring partnership opportunities in well-side cryptocurrency mining, utilizing low-cost electricity from its natural gas holdings. Further transaction details will be disclosed later.
Principal Solar, Inc. (OTC Pink: PSWW) has finalized a majority acquisition of Double-H Services, LLC, enhancing its strategic position in the clean energy sector. This transition involves Double-H purchasing hybrid and fully electric heavy EV solutions to convert its diesel fleet, aiming to significantly reduce operating costs and environmental impact. Double-H has reported consistent seven-figure annual revenues over the past five years. The deal, subject to further due diligence, is expected to finalize in the second quarter of 2022.
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