Letter of Intent Outlines Plans to Develop, Market, Promote, and Support Next-generation, Collaborative Virtual Tools that Deliver Immersive Training Content and Facilitate the Roll-out of “Green” Commerce Initiatives, Meeting Today’s Market Demand for Increased Speed and Efficiency While Reducing Energy Use
DALLAS, TEXAS, March 30, 2021 – — Principal Solar, Inc. (OTC Pink: PSWW) (“Principal” or “the Company”), a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an investor in and acquirer and operator of undervalued petroleum-producing properties, today announced that it has executed a Letter of Intent with Apollo LTMS Green (“Apollo Green” or “Apollo”). Together, the two companies plan to develop, market, promote, and support next-generation electronic tools and content intended to facilitate highly immersive, virtual distance learning platforms, thereby easily and immediately facilitating crucial knowledge transfer. The energy-efficient, “green” platform is initially expected to utilize interactive communications and remote training capabilities to support the internal integration of Principal Solar’s subsidiaries and portfolio companies. Additionally, the companies plan to develop content for the platform designed to aid in the adoption of energy-efficient commerce initiatives.
“With over 20 years of cloud-based platform development and a track record of delivering notable advances in industry-leading virtual reality (VR) and augmented reality (AR) technologies, Apollo Green brings a fresh, new, resource-saving, potential growth opportunity to Principal’s expanding portfolio of partnerships and technologies,” said K. Bryce “Rick” Toussaint, CPA, MBA, Chairman and CEO of PSWW. “Truly global workforces, evolving workplace trends, market demand for immediate knowledge transfer, and the ongoing pandemic have combined to create a demonstrable need for new, more efficient, and environmentally-friendly methods of timely information dissemination. We believe the agreement with Apollo represents an opportunity for Principal to continue its strategy of investing in, partnering with, and maximizing the potential of promising new technologies that have a positive, ‘green’ environmental impact. Our expectation is that our planned partnership with Apollo can meet today’s real-world demand with real-world solutions – and provide potential growth opportunities for all involved stakeholders.”
According to the terms of the agreement, Principal Solar and Apollo Green plan to jointly develop, promote, market, and support “green” technology content as well as next generation, interactive, virtual communications and training tools to distance learning markets worldwide. Due to Principal’s focus on the renewable energy, electric vehicle, and “green” hydrocarbon capture spaces, the two companies initially intend to transform the delivery of training content and the distribution of other timely information to the evolving energy industry, initially to Principal’s subsidiaries, divisions, and partnerships. This is expected to be accomplished through the development and deployment of realistic, “immersive” simulations that maximize retention, enhance safety, and support certification for training applications. Intended functions of the virtual training platforms are expected to include the introduction of new training methodologies, the enhancement and augmentation of existing skill sets, and the dissemination of new product, procedure, and service information.
Principal Solar believes its planned partnership with Apollo and the resulting communications platform the two companies expect to jointly develop will facilitate Principal’s continued approach of reducing energy use through developmental ingenuity and true marketplace innovation. Apollo Green stands by its more than two decade commitment to delivering world-class products and services that meet or exceed all business and industry standards.
Under the proposed terms of the final agreement (still in discussion as of the date of this announcement), Principal Solar is expected to provide capital and operational support for the creation of training modules developed by Apollo Green specifically for Principal Solar’s portfolio companies, partnerships, and/or subsidiaries. Additionally, the two companies plan to develop, license, and market energy efficient external communications solutions and content (the details of which are yet to be specifically determined).
About Apollo LTMS Green
Apollo LTMS Green is a comprehensive, augmented reality (AR) and virtual reality (VR) enabled immersive training platform for remote e-learning. The system is built on cloud-based communication and collaboration tools with the underlying technologies of Intellimedia Networks Inc’s Apollo HUB and Apollo ILA (Immersive Learning Application framework), which are components of the Apollo LTMS Green suite, paired with various mediums including Smart TV and mobile devices.
For further information, please visit the Apollo LTMS site at www.apolloltms.com.
About Principal Solar
Principal Solar is a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an acquirer and operator of undervalued petroleum-producing properties.
For further information, please visit the Company’s website at www.pswwenergy.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this news release which are not historical facts may be “forward-looking statements” that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe PSWW’ hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond PSWWs’ control, will affect actual results. PSWW undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with PSWWs’ most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by PSWW.
Principal Solar Contact
K. Bryce “Rick” Toussaint, CPA, MBA
Chairman and Chief Executive Officer
Investor Relations Contact