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SunSi Energies announced that it has signed a binding letter of intent to acquire a 51% interest in TransPacific Energy, a company based in Nevada and California that specializes in designing and selling energy systems. SunSi will buy 51% of TPE’s common stock with TPE being paid in full with shares of SunSi’s common stock. Both companies expect the transactions to be finalized by the end of May.
This acquisition marks SunSi’s first presence in the US, as well as a new revenue stream for the TCS company. Both companies expect that the stock acquisition will allow them to expand operations further throughout the country.
"We are thrilled to join forces with accomplished business and technology leaders such as the team of TPE," commented Richard St. Julien, chairman of SunSi Energies. "SunSi will now offer innovative and critical renewable energy conversion systems that efficiently convert waste heat from industrial processes, solar, geothermal biomass and landfills directly into electrical energy. This partnership will provide us with US-based operations, diversify our customer pool, and position SunSi as a leading renewable energy company with significant technical expertise. Our Chinese operations and customer relationships will open new doors for TPE's products and enable us to significantly increase the value of the entire SunSi–TransPacific Energy enterprise."