Posted: September 29, 2009

MSGI Announces Formation of Andromeda Energy Subsidiary as Holding Company for NASA Technology

(Nanowerk News) MSGI Security Solutions Inc. today reported that the Company has formed its second subsidiary for NASA based technology.
Andromeda Energy Inc. is a California based nanotechnology company focused on scalable alternative energy solutions that operate more efficiently, and therefore yield significantly lower electricity cost per watt than conventional energy sources.
The Company is in receipt of several expressions of interest for partnerships in the planned deployment of this new technology from major corporations located in the People’s Republic of China. MSGI has also been asked to consider a dual listing on the Hong Kong Stock Exchange.
Jeremy Barbera, Chairman and CEO of MSGI commented; “Andromeda Energy is our “beta” subsidiary - the second of several majority owned subsidiaries, each of which will hold the rights to a specific technology and also serve as the vehicle for investment capital. MSGI will issue a press release next month to elaborate on this second breakthrough in technology that is nearing prototype stage. This new invention will be launched early next year in the renewable energy industry.”
About MSGI Security Solutions
MSGI Security Solutions, Inc. is a leading international provider of proprietary solutions to commercial and government organizations. MSGI is developing a combination of innovative emerging businesses that leverage information and technology. The Company is headquartered in New York City where it serves the needs of counter-terrorism, public safety, and law enforcement.
Source: MSGI (press release)
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