Genesis Electronics Group, Inc. Uses Solar Power to Recharge Batteries
24 Mar 2010

On December 3, 2009, Genesis Electronics Group announced that it has licensed two patents from the Johns Hopkins University Applied Physics Laboratory. The introduced new technology allows using transferred solar energy for charging the batteries of mobile phones and other portable communication devices. Thus, Genesis Electronics continues offering innovative high-tech products for individuals and small businesses.

In compliance with its corporate strategy to offer up-to-date technologies and to recognize the potential of new emerging markets, the company expanded its business activity already on May 22, 2008 through the merger with Genesis Electronics Inc. After the acquisition of Genesis Electronics Inc., the new company named Genesis Electronics Group, Inc. entered new markets and faced completely new challenges.

Initially the company started as an e-commerce entity that operated the website, an electronic marketplace where sellers can post their offers and consumers can find and purchase any kind of products and services. But now the new solar energy technology is a highly promising invention, considering the fact that the sales of iPhones, BlackBerries and other related products have increased by 24% worldwide since 2008 and that those portable devices are offering more and more power-consuming applications.

Thus, because of the fast growth of mobile communications along with the growing demand for eco-friendly, sustainable and renewable energy sources in general, the new patented technology for solar battery recharging of Genesis Electronics is expected to increase the revenues of the company and to open wider business opportunities. This could explain the constant rise of the stock price from the beginning of March, reaching an increase by 13,33 % to $ 0,17 on March 23, 2010.

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