FRISCO, TX -- (Marketwire) -- 07/13/11 -- Global Holdings (OTCBB: GOHG) (PINKSHEETS: GOHG) is pleased to announce an agreement for funding with New York based Eastern Funding for its joint venture with Solite, an Arizona-based technology company. Solite commercializes a patent-pending daylight harvesting solution that efficiently captures sunlight via rooftop collection arrays. It then distributes the concentrated light inside building interiors to provide free, natural illumination. Cleverly combined with LED lights and controls, it offers a highly efficient lighting solution throughout the day. Our products do not need to convert solar lighting to electricity as solar panels do. As such, they perform an order of magnitude better than any commercially available solar technology and offer a considerably faster return on investment.
News on solar energy harvesting has been focused lately on individual success with the older style of solar paneling. For example, there is a couple in Minnesota who recently lowered their usage from 850 kwh/month to 120 kwh/month. Another inspiring story is of a car dealership whose entire showroom from coffee makers to computers runs off solar paneling. The government helped fund their installation and now they save over $1,000 a month on energy costs. A considerable move toward energy efficiency can be seen in our government; Chicago politicians have recently undertaken the task of 'greening' government over 41 government buildings. The project is already cutting energy costs by $600,000 annually and is projected to save up to $5.7 million annually upon completion all while creating over 375 jobs and requiring no taxpayer contribution.
Efforts to move toward energy efficiency can be seen at the federal level as well. The heavy emphasis on energy efficient lighting by the Obama administration, further underscored in an earlier press conference by President Obama when new energy standards for lighting were announced, is beginning to take hold throughout the real estate industry. Cost effective energy efficiency is the goal and daylight harvesting is increasingly recognized as a solution by both the private and public sectors. So far the Obama administration has already done the following for solar power:
- The Interior Department has issued permits to nine utility-scale solar projects in the past year as part of a fast-track review process aimed at using federal lands for renewable energy. This year, the department has given priority status to 19 projects -- 10 solar, five wind and four geothermal.
- The Energy Department's loan guarantee program has offered $12 billion alone to solar generation and manufacturing projects.
- The EPA has declared greenhouse gas emissions a danger to public health and welfare and is finalizing stricter regulations that will force the country's largest polluters to reduce emissions.
Global Holdings Inc.(GOHG)
Global Holdings, Inc.'s objective is to acquire, partner with and promote advanced technologies through management coaching, effective intellectual property deployment, business networking and intelligent financial solutions. The company is a technology incubator that offers a specialized menu of support resources and services. Management believes it will accomplish its goal to maximize shareholder value through strategic acquisitions and effective business design.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Global Holding's filings with the Securities & Exchange Commission.