Date: Monday, February 27, 2006
Trading Symbol:OTCBB:BBSE
Barnabus Energy Announces SunCone Achieves Critical Milestone
SOLANA BEACH, CA February 27, 2006/MARKETWIRE/ -- Barnabus Energy, Inc. (OTCBB: BBSE) is pleased to announce that its principal contractor on the Suncone project, HYTEC, Inc. of Los Alamos, NM, has achieved a significant milestone in its first phase of work: The construction of the first full-scale prototype, and commencement of engineering analysis.
HYTEC's fast-paced five month initial phase was highlighted with a field test on February 10. Data analysis from the test was completed on February 21. Data indicated that the predicted reflectivity was attained and the automated sun-tracking system functioned well. The rapid thermal rise at the collector brought cheers from the technicians and engineers in the control area.
Tim Thompson, HYTEC's President and CEO, said "Working with Barnabus on the development and commercialization of Suncone is very exciting for our company. Renewable energy systems are extremely important to achieving a safe, secure national energy policy. We believe Suncone has the potential to be less expensive than other solar collectors, producing high temperatures at greater efficiencies than competitive parabolic dish or trough systems. We are thrilled to participate in the development of this invention."
David Saltman, CEO of Barnabus, said "Tim and his team at Hytec Engineering have done a remarkable job moving from a concept to full scale prototype. On the basis of this first set of trials, we have already made the decision to move to the next phase, which will entail design optimization of the materials, the tracking mechanism, the target rod, and the interface with an electrical power-generating turbine and a water purification system. This phase will result in design specifications for a commercial product. We hope to accomplish this development by early summer."
About HYTEC, Inc.
HYTEC, Inc. is an employee owned company headquartered in Los Alamos, New Mexico. Approximately 40 employees work in one of three wholly owned subsidiaries. For more information on HYTEC please visit www.hytecinc.com.
ABOUT THE COMPANY
Barnabus Energy, Inc. (BBSE) is currently undergoing corporate restructuring including a name change to Open Energy Corp. (OEC). The Company is committed to the development of a world-class Renewable Energy company and is acquiring commercially viable assets within the Renewable Energy sector encompassing diverse aspects of the industry. Management currently is seeking other companies that offer significant technology advantages and market opportunities, which it can acquire with the ultimate goal of increasing shareholder value. The company's model is a focused approach to the exploitation of targeted, low-risk development opportunities.
Safe Harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Barnabus Energy, Inc. and/or Open Energy Corp. has little or no control.
ON BEHALF OF THE BOARD
Barnabus Energy, Inc. d.b.a. Open Energy Corp.
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David Saltman, President
Investor Relations Contact: Brad Long 1-800-250-2610
Visit our website at www.barnabusenergy.com
