DayStar Technologies to acquire Grasshopper Energy

DayStar Technologies Inc. (NASDAQ: DSTI) has entered into a Letter Of Intent (LOI) agreement to acquire Grasshopper Energy. Grasshopper Energy of Toronto, Ontario provides turnkey solutions for solar power systems. The purchase is a 100 percent equity transaction.

Grasshopper has over 100 "microFIT" (Feed-In Tariff) and "FIT" contracts worth $50 million awarded to date with an additional "microFIT" and "FIT" applications that represent 3,500 projects.

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