Low oil prices and astounding new technology have First Titan Corp. (OTCBB:FTTN) considering new opportunities in what could soon be the fastest-growing segment of the energy industry: solar tech.
In its 2015 solar outlook, Deutsche Bank analysts predicted that by next year, solar power will reach grid parity across all 50 states in the U.S. Grid parity reflects solar tech’s ability to generate power for the same underlying costs as competitors, such as oil and gas. By 2017, 80 percent of the global market will have reached grid parity.
Rapidly falling costs, coupled with breakthroughs such as transparent solar panels, have led many to conclude that solar power has reached the tipping point—and FTTN is making plans to capitalize on solar’s rise.
“According to reports from the U.S. Energy Information Administration, solar made up just 0.2 percent of all energy generated in the U.S. in 2013,” said FTTN CEO Sydney Jim. “Thanks to grid parity, the potential for further market penetration with solar is unprecedented. There is a revolution on the way, and we want First Titan Corp. to be on the front lines.”
FTTN is already scouting new acquisition and development opportunities in a solar industry poised to explode. Through its wholly owned subsidiary, First Titan Energy, the company is building a diversified asset base of energy properties and is dedicated to the continued development of energy assets throughout North America alongside companies such as Lucas Energy, Inc. (NYSE: LEI), Earthstone Energy, Inc. (NYSE: ESTE), Fieldpoint Petroleum Corp. (NYSE: FPP) and Evolution Petroleum Corp. (NYSE: EPM).
For more information on FTTN’s current projects, please visit www.firsttitanenergy.com.
About First Titan Corp.
First Titan Corp., through its wholly owned subsidiary, First Titan Energy, LLC, is committed to the exploration and development of oil and natural gas resources around the globe. The Company continually seeks to partner with energy developers that are pursuing innovative new methods of oil and gas extraction, including the development of new technologies, cleaner methods and unconventional resources.
Notice Regarding Forward-Looking Statements
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.
Sydney Jim, 850-269-7267
President and CEO