Sunvault Energy, Inc. (OTCBB:SVLT) signed an agreement to acquire 80% stake in Photovoltaika Chersou Ltd. and Ellinika Latomeia Photovoltaika AE from BCI Renewables for $6.7 million on October 31, 2013. The purchase price includes assumed project financing debt and subject to other adjustments. Sunvault has received Board approval for transaction.

The transaction is subject to completion of final due diligence and successful acquisition financing.