Clear Skies Solar to Monetize Part of its Carbon 612 Subsidiary Asset

MINEOLA, N.Y., Nov. 19 /PRNewswire-FirstCall/ -- Clear Skies Solar, Inc. (OTC Bulletin Board: CSKH) today announced that approximately one third of its wholly owned subsidiary C612 would be sold to a group of private investors. C612 was formed last year to house the patented and patent pending technologies that have been developed in-house by CSS. The sale is expected to increase working capital available at CSS allowing for increased flexibility to meet upcoming growth plans and permit C612 to support its own working capital needs.

"We are excited to have the opportunity to monetize part of the C612 asset. Monetization of approximately one third of this asset via a sale to a group of private investors will allow us to reduce our monthly expenses by approximately 25% and allow C612 to better support the upcoming costs for third party testing of XTRAX," commented Ezra Green, CEO of Clear Skies Solar. "This move will also facilitate our movement into the smart grid market, which is one of the most exciting sectors within the overall clean technology space."

Clear skies Solar, Inc. formed the C612 subsidiary last year to house the patented and patent pending technologies that have been developed in-house by CSS. One of the technologies CSS developed is the Patented XTRAX® wireless data monitoring system for renewable energy systems. XTRAX is a cellular powered data transmittal unit that tracks and reports the clean energy power produced so that renewable energy and carbon credits can be validated associated with clean energy systems. The system is now in final testing and certification in preparation for future commercial launch.

With over 150,000 solar installations in the US and hundreds of thousands of additional sub-system monitoring requirements, there is a large target market for XTRAX. The sub-system monitoring would consist of string, inverter and panel monitoring using a combination of radio and cellular technology in order to keep system downtimes to a minimum and production efficiency at a premium. We believe that the XTRAX system will also be a leader in the demand-reduction programs by automating the process as opposed to physically closing machinery switches, which makes it valuable to the energy efficiency industry. One of the market applications would include larger commercial buildings. With grid demands ever expanding, the need to reduce and control electrical consumption is more prevalent than ever before.