Xynergy Corporation said Tuesday that it has signed a letter of intent to acquire Corporate Space Power Industries & Electric, Inc. (“CSPIE”). CSPIE has developed an innovative method of tapping solar power through space satellite laser transmission.
Raquel Zepeda, CEO of Xynergy Corporation, commented, “We are very excited about working with CSPIE. As an energy provider, no doubt this company is literally soaring sky-high toward a most voracious and lucrative market.”
Collecting solar power 24 hours a day, these space satellites will provide an environmentally safe and economical source of energy. Ultimately, CSPIE will create the first multi-billion watt space power generation system, emitting energy through a blue colored laser, to an earth-based receiver.
CSPIE has contracted NASA/JPL engineers to assist in testing the satellite space power system. The construction of the system will take place at Marshall Space Flight Center in Huntsville, Ala.
In a letter of intent from the director of the Institute of Electrical Engineering of the Chinese Academy of Sciences, China has agreed to purchase a power plant system of its own upon completion of the CSPIE’s first successful demonstration. China has a special interest due to its environmental problems.
According to Howard A. Foote, CEO of CSPIE, “The laser operates in safe margins, it’s clean, unlimited power, and there are no side affects, which is non-existent now with other power plants, environmentally; this will have a huge impact.” Mr. Foote is the creator of CSPIE’s power innovation, and has been working in space energy transport systems since the early 1990’s.
Mr. Foote holds several patents in the fields of aircraft powering. A true pioneer in his field, Mr. Foote is considered to be one of the most progressive aeronautic engineers of today.
