New Solar Nears Completion of Phase One in Development of Solar Tracer
September 14 2010 - 9:00AM
LadyBug Resource Group (OTCBB:LBRG) announced today that its
subsidiary, New Solar Electricity Corporation, is nearing
completion of Phase One in the development of its novel solar
concentrator called "Solar Tracer." Solar Tracer will use
concentrating solar power technology to capture energy from the sun
and transfer it in the form of heat to run steam turbine
generators. The company believes that its Solar Tracer will exceed
the performance of the current generation of linear concentrator
systems.
Phase One in the development of Solar Tracer is to identify a
low-cost, high reflectivity surface material to be used on the
concentrator unit. Phase One consists of testing multiple
surface types and materials and determining their
reflectivity. The majority of current linear concentration
systems use steel board and glass mirror/plastic mirror sheet for
their reflective surface. These materials are expensive and
constitute nearly half the cost of building a concentrated solar
power field.
Christian Tedrow, President of New Solar, said, "We are very
excited to be nearing completion of Phase One of Solar Tracer's
development. Identifying a low-cost, high reflectivity surface
material for Solar Tracer is vital to achieve New Solar's goals of
producing solar power at lower costs."
Tedrow concluded, "It is New Solar's goal to reduce the cost per
watt of solar electricity for consumers. To do this depends on
the efficiency, the total system cost, and maintenance cost of the
concentrator. We believe 'Solar Tracer' will have an impact on all
three of these factors."
About New Solar Electricity Corporation:
New Solar Electricity Corporation, headquartered in Orlando,
Florida, is an alternative energy company seeking to capitalize on
the growing multi-billion dollar global solar market through the
development of Solar Tracer, a novel low-cost solar concentrator
that saves manufacturing costs while increasing the power
generated. (www.NewSolarEC.com)
About LadyBug Resource Group, Inc.
LadyBug Resource Group Inc. (OTCBB:LBRG), headquartered in
Kirkland, WA, acquires and licenses breakthrough technologies,
patents, patents-pending and trade secrets in the Energy, Health
and Intellectual Property sectors. For more information please see
www.LadybugRG.com. Wholly owned subsidiaries of the LadyBug
Resource Group (www.LadybugRG.com) include New Solar Electricity
Corporation (www.NewSolarEC.com) and Inner Path Health Corporation.
(www.InnerPathHealth.com)
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains forward-looking
statements (within the meaning of Section 27a of the Securities Act
of 1933 and Section 21e of the Securities Exchange Act of 1934)
regarding us and our business, financial condition, results of
operations and prospects. Forward-looking statements in this report
reflect the good faith judgment of our management and the
statements are based on facts and factors as we currently know
them. Forward-looking statements are subject to risks and
uncertainties and actual results and outcomes may differ materially
from the results and outcomes discussed in the forward-looking
statements. Readers are urged not to place undue reliance on these
forward-looking statements which speak only as of the date of this
press release. We undertake no obligation to revise or update any
forward-looking statements in order to reflect any event or
circumstance that may arise after the date of the press release.
Political and operational risks in the countries in which LadyBug
Resource Group Inc. may operate and governmental regulation and
judicial outcomes, and other risks detailed from time to time in
LadyBug's filings with the Securities and Exchange Commission,
including its Quarterly Report on Form 10-Q for the quarter ended
March 31, 2009. Copies of each filing may be obtained from the
S.E.C. or its web site at www.sec.gov.
CONTACT: CenterPoint Communications Group, LLC
Investor Relations
Todd Lorenze
386-775-2020
info@centerpointcg.com
www.centerpointcg.com
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