Universal Solar Technology, Inc.
Under the Symbol:
Universal Solar Technology Signs Letter of Intent With Entrex Capital Market to Create Carbon Trading Market
Friday, May 24, 2019 10:35 AM
Partnership Focuses on Bringing Carbon Trading Mainstream!
HOUSTON, TX / ACCESSWIRE / May 24, 2019 / Universal Solar Technology, Inc. (OTC PINK: UNSS) is pleased to announce the execution of a Material Definitive Agreement through an executed Letter of Intent to create a joint venture with Entrex Capital Market to establish the Entrex Carbon Trading Market.
The joint venture will use Entrex's blockchain-enabled technology platform to trade carbon credits, carbon offsets and other environmental securitized product. The platform would allow credits, offsets and other environmental products to be found, researched, tracked, managed and traded via regulated entities through a compliant platform.
The Entrex Carbon Market is expected to start trading Carbon Offsets in the second quarter of 2019 and offers buyers a place to buy, sell and retire Carbon Offsets to the global registries. Profits from the operations are expected to be distributed monthly to shareholders.
"Outside of trading revenues, we have numerous parties wanting to develop an 'Entrex Offset Fund,' which would offer a diversified basket of global Carbon Offsets to investors, speculators and offset users," said Stephen H. Watkins, CEO of Entrex.
Paul D. Landrew, CEO of UNSS, suggests "We also are looking into the formation of a fund to build Solar facilities for private commercial rooftops across the nation. This would simplify the way facilities can be designed, installed and maintained, taking the financial burden away from private corporations trying to join the Carbon Neutral Economy."
"We see companies and consumers interested in carbon neutrality and believe we can use our proven, blockchain-enabled platform for producers to efficiently list and create carbon products while providing buyers access to industry-compliant products," said Stephen H. Watkins, CEO of the new joint venture.
"This is a tremendous transaction for UNSS and our investors," said Paul D. Landrew, CEO of Universal Solar. We expect the trading market to propel UNSS into a leadership position in the sector, utilizing the proven technology created by the Entrex team.
Entrex was founded in 2001 as a "capital market system for entrepreneurial companies." The new joint venture will utilize Entrex's intellectual properties and blockchain enabled technologies, built and proven over 17 years using IBM's Domino and Hyperledger technology platforms. The Entrex platform originates, structures, offers, places, trades, settles and services debt and equities of entrepreneurial companies through regulated entities that serve investors and issuers. Working together with industry sector leaders and regulated market constituents allows investors to find, research, track, manage and trade entrepreneurial securities while providing entrepreneurial companies access to capital. www.EntrexCarbonMarket.com
About Universal Solar Technology Inc.:
Universal Solar Technology, Inc. (UST, Inc.) is focused on the renewable energy sector through diversified product portfolios and various strategic partnerships. By leveraging our history in renewable energy manufacturing, we envision opportunities including financial services, product generation, product installation, as well as product and process certifications. With the ever-increasing awareness of the need for environmental accountability, UST, Inc. is committed to being a catalyst to making practical solutions in this sector available in products, services and education. www.universalsolartechnology.com.
For further information:
Stephen H. Watkins Paul D. Landrew
Entrex Capital Market Universal Solar Technology Inc.
(561) 465-7580 (832) 229-7046
SOURCE: Universal Solar Technology, Inc.