ORLANDO, Fla., Oct. 6, 2008 (GLOBE NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., has initiated coverage on Perfectenergy International Ltd. (OTCBB:PFGY), a company which designs, manufactures and markets customized and standard photovoltaic solar cells, modules and systems.
Neha Bhargava, MBA, RedChip Research Analyst, reported:
"Escalating oil prices, depleting fossil fuel resources and growing global warming concerns have converged, leading to unprecedented growth in the demand for solar cell technology. Continuous improvement in solar cell technologies, aimed at increasing energy conversion efficiency and reducing costs, has further added to the growing demand as more countries look to increase the proportion of renewable energy sources in their energy supplies."
"PFGY implements a proprietary manufacturing process that enables the production of photovoltaic (PV) solutions at a substantially lower cost than the industry average. As the Company currently has fixed, sufficient silicon supplies for meeting its production demands for FY08 and FY09, it is in a safer position as the spot supply of silicon has tightened and spot prices have doubled in comparison with long-term supply prices," she continued.
"PFGY is also geographically strong, generating maximum revenue from Germany, the leading country in the world's photovoltaic market. The Company has plans for expansion into the U.S. market to increase distribution for its solar products. Entering the U.S. market, which is presently projected to grow at the same rate exhibited in Europe, will prove to further enhance PFGY's expansion."
"With a robust backlog of contracts for PV products and a secured silicon supply to meet the backlogs, PFGY is on a sturdy platform to achieve its commitments. We initiate coverage of PFGY with a 'Speculative Buy' rating and a 12-month target price of $2.50," Bhargava concluded.
To receive a complimentary copy of the RedChip Visibility Initial Research Report for PFGY, please visit: http://www.redchip.com/visibility/about.asp?page=vreport&reportid=139&from=10062008pr.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm with offices in Orlando, Florida; Shanghai; and Paris, with affiliates in Atlanta and New York. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research, Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Internet TV, and RedChip Radio. To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp.
"Discovering Tomorrow's Blue Chips Today(tm)"
Disclosure
None of the profiles issued by RedChip Companies, Inc. constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Perfectenergy International Ltd. paid RedChip Visibility, a division of RedChip Companies, Inc. $36,000 for RedChip Visibility Program services, which included the preparation of this equity research report. RedChip Companies, Inc. is currently engaged by this company to provide investor awareness services. Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. Perfectenergy International Ltd. agreed to pay RedChip Companies, Inc. a fee of $10,000 in cash per month and warrants to purchase up to 240,000 shares of common stock for four (4) months of these services. RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein. To the fullest extent permissible under applicable law, RedChip Companies, Inc. will not be liable to you or anyone else for the quality, accuracy, completeness, reliability, or timeliness of this information.