Star Royalties Announces Investment in Diesel Displacement Technology Company, MOBISMART
FOR IMMEDIATE RELEASE
JANUARY 26, 2022, TORONTO, ON - MOBISMART Mobile Off-Grid Power & Storage Inc. (“MOBISMART”) announced the closing of investment agreement with Star Royalties Ltd. (the “Company” or “Star Royalties”) (TSXV: STRR, OTCQX: STRFF), through its wholly-owned, pure-green subsidiary, Green Star Royalties (“Green Star Royalties”). The terms of the deal will see an immediate injection of cash by Star Royalties into Mobismart Canadian operations in return for gross revenue royalties and other considerations.
MOBISMART is an innovator of advanced, mobile and portable, solar power generation systems that can be easily deployed to construction and natural disaster sites and other urban, rural and remote locations needing off-grid power.
“This is an important strategic investment for Mobismart and another vote of confidence from an astute investor group that further validates our go to market approach,” commented Nick Efston, co-founder and Chief Technology Officer.
Mobismart’s innovative business model was devised to enable the organization to scale up to also meet the needs of high-growth sectors for integrated power solutions, solar conversion of refrigeration vehicles and e-fleet fast-charging stations - all market opportunities reachable by leveraging Mobismart’s IP.
Alex Pernin, Chief Executive Officer of Star Royalties, commented: “We are proud to be supporting a greener future by investing in a local and high-growth technology company like MOBISMART. Their products reduce or offset CO2 emissions in environmentally-sensitive areas by displacing diesel usage, which alone is a C$70 billion global market.”
The Star Royalties investment in Mobismart follows an investment from First Inflection Business Associates (FIBA) in August 2021.
MOBISMART Mobile Off-Grid Power & Storage Inc. is a technology innovation company specializing in mobile, easily-deployed, off-grid power generation and storage. Founded in 2013 in Toronto, Canada, MOBISMART is an innovator of advanced, mobile and portable, solar power generation systems that can be easily deployed to construction and natural disaster sites and other urban, rural and remote locations needing off-grid power.
MOBISMART’s varied power generating solutions – ranging from trailerized to containerized systems, delivering a range of power requirements, work to reduce the reliance on carbon emitting diesel generation, fill the gap of compromised on-grid power sources, and support 24/7 mission critical needs.
MOBISMART’s proudly manufactures its systems in North America leveraging ISO 9001 Certified facilities in both Ontario and Quebec. This local control over manufacturing ensures optimization of quality and timely solution delivery – removing any potential supply chain and quality related issues associated with offshore manufacturing.
ABOUT STAR ROYALTIES LTD.
Star Royalties Ltd. is a precious metals and green royalty and streaming investment company. The Company created the world’s first carbon negative gold royalty platform and offers investors gold exposure with an increasingly negative carbon footprint. The Company’s objective is to provide wealth creation through accretive transaction structuring and asset life extension with superior alignment to both counter-parties and shareholders.
- # -
MOBISMART Mobile Off-Grid Power & Storage Inc.
Ed Corbett, CPA, CMA, B.Comm
+1 905 599 9774
Star Royalties Ltd.
Alex Pernin, P.Geo. Dmitry Kushnir, CFA
Chief Executive Officer and Director Head of Investor Relations
+1 647 801 3549 +1 647 287 3846