July 30, 2002 [SolarAccess.com] Synergy Technologies Corporation has made progress in management’s goal of increasing institutional ownership in Synergy as the company’s core technologies approach commercialization. Synergy has completed a US$500,000 common stock private placement with the company’s largest institutional shareholder, a private energy investment fund. The fund purchased 1,246,884 restricted shares of Synergy common stock at US$.401 per share. Funds from this offering will be used for the continuing development of Synergy’s two proprietary technologies, SynGen and CPJ, and for general working capital purposes.
