ONYX Terminates Development of Honduran Solar Project

March 16, 2012, 10:09 a.m. EDT
ONYX Terminates Development of Honduran Solar Project

GREENWOOD VILLAGE, CO, Mar 16, 2012 — Onyx Service & Solutions, Inc. announced today that the Company has informed its Honduran partners as well as local government officials that it has made the decision to terminate development of its 22-megawatt solar project on the Island of Roatan.

Though the project had garnered significant support from the local government and potential end-users, ONYX has determined that the current political, financial, and regulatory situation in Honduras presents an environment that is, at best, unfriendly to alternative energy projects such as the one under development by ONYX.

“Although we’ve made the painful decision to walk away from what we feel could have been a game-changing project for the people of Roatan, we are hopeful that the smaller-scale projects we are developing for Roatan will be able to bring at least some of the benefits to the citizens envisioned by our initial diesel generation augmentation project,” stated Malcolm G Burleson, Chairman and CEO. “We remain committed to the philosophy of the diesel generation augmentation project and will continue to pursue alternative environments in which a similar project would be feasible.”

About Onyx Service & Solutions, Inc.

Onyx Service & Solutions, Inc. focuses on alternative energy solutions including solar construction projects, cutting edge solar technology development, new to market solar product development, worldwide solar product sales and creative financing for alternative energy related projects.

For more information on the Company see: http://www.OnyxService.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Media Contact:
Malcolm Burleson

SOURCE: Onyx Service and Solutions, Inc.

One Response to "ONYX Terminates Development of Honduran Solar Project"

  1. tam1904  March 17, 2012 at 9:25 am

    what a joke this was from day one.as someone working in the renewable energy industry for 8 years and someone who lived in Roatan for 2 years, I can tell you that this was just a money-laundering front of a project which was never going to happen.it is amazing to see how gullible people are about these things.22 MEGAWATTS? On ROATAN? IN HONDURAS!!!??? That is the funniest/most pathetic thing I have ever heard.Roatan will be under the RECO grip for many many more years to come and all the sheeple will keep repeating the same old mantra to themselves “we are SO lucky to have RECO, they are SO wonderful,Matt is SUCH a nice guy”…LOL!And in the meantime, RECO executives are laughing all the way to the bank, abusing their customers and pretty much have the run of the land along with Julio Galindo.Roatan is a hopeless cause…that’s why I left (which I am ecstatic about,BTW) and I am NEVER going back.People who don’t see that and continue to believe in these conmen selling them the Brooklyn bridge day in and day out are just deluding themselves.

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