Sunvault Energy Inc (OTCMKTS:SVLT) reported that through its incubation firm Aboriginal Power Corp, it had commenced to add clients to its electricity utility power sales plan. In the coming months, the company anticipates to add almost 3,000 customers via existing deals with Aboriginal communities. The primary objective of Aboriginal is to provide green and clean energy generation, national gas and electricity retailing service and access to company’s leading graphene energy storing technology.
With conservative trading multiples existing in the power utility industry, the anticipated valuation per customer for Aboriginal is projected to be around $2,000 CDN per client. This projected value per customer covers a soon to be introduced natural gas solution that will be added to and in combination with the electricity solution. Sunvault incubation firm intends to conservatively extend its customer base to 10,000 clients within the first year.
The management comments
Trent Blind, the President of Aboriginal Power Corp, said that it is the first plan in North America that will be exclusively focused on developing sustainability and independence within Aboriginal communities throughout the U.S. and Canada. This service will reduce natural gas and power pricing and enhance the value proposition for APC and related business partners.
Energy independence results in more sustainable and healthy environments for people. It helps to save natural resources for present and coming generations. APC has tremendous experience introducing renewable energy programs to market. It engages in the advancement of different energy resource projects for commercial and industrial uses, municipal benefit and domestic consumption.
Sunvault Energy Inc (OTCMKTS:SVLT) highlighted that Alberta is a deregulated market and power is supplied from generators to customers using the electrical grid. APC without interfering with the process is able to offer a discounted rate via the terms of bundled contract offerings, billing and customer care services.
In early morning trade on Friday, the stock price of Sunvault was trading almost flat at $0.670.