ONYX signs MoU to acquire 25 percent of “Plug-N-Play” co-developer

GREENWOOD VILLAGE, USA: Onyx Service and Solutions Inc. has executed a Memorandum of Understanding agreement (MoU) to acquire 25 percent of China-based Optimum Solar.

The financial terms of the acquisition will be settled upon the completion of ONYX’s Due Diligence review of Optimum’s existing operations and future valuations. The terms of the MOU allow for a short Due Diligence period, therefore, ONYX management anticipates closing the acquisition within the next several weeks.

“We are confident that the acquisition of this substantial stake in Optimum will allow ONYX access to some of the best engineering and manufacturing expertise available in the solar industry,” stated ONYX’s president, Malcolm Burleson. “The combined resources of ONYX and Optimum will allow for the acceleration of the commercialization of our co-developed ‘Plug-N-Play’ all in one solar panel system.”

“To date we have received sales inquires from all four corners of the globe; each with a story of how the ‘Plug-N-Play’ could be used in revolutionary ways,” concluded Burleson.