TSPG Reaches Agreement With Scooter Sharing Company CITISCOOTER.com

BROOKLYN, N.Y., Oct. 14, 2014 /PRNewswire/ -- TGI SOLAR POWER GROUP INC. (PINKSHEETS: TSPG) a diversified technology company, announced last week it has entered into an Agreement with CitiScooter.com, NYC based "Shared Ride" business. The transaction is subject to customary due diligence.

The TSPG management team is devising a detailed operating model for the business and anticipates closing transaction in the next quarter.

"The Shared Ride" industry has seen rapid growth in the last few years. As urban dwellers seek alternatives to the expense and inconvenience of out right vehicle ownership and other forms of public transportation. The use of shared bikes and cars have seen meteoric growth. Look no further than companies such as Rent the Runway, Cars2Go, Zipcar, Uber, Lyft and CitiBike to see this industry model showing tremendous traction, In Addition to the revenue from the customers, advertising sponsorship has stepped up from major financial institutions to other fortune 1000 consumer based corporations. This sector has tremendous growth potential and significant room for more players.

The RIDE SHARING can be broken down into to subsectors Taxi Alternatives and Car Sharing.

The two leading players in the TAXI ALTERNATIVE sector are UBER and LYFT. Recent report indicates tremendous revenues growth and remarkable valuation increases.

Uber, Inc. the taxi replacement service is operating in 98 US cities and 44 countries, They have raised over $1.6 billion and achieved a recent valuation in excess of $18 bln. The company has seen tremendous growth since its inception. Recent valuation has increased over $13 billion and The top VC's and investment banking in silicon valley have participated in recent, including Google (GOOG), Black Rock, Kleiner Perkins and Menlo Ventures

Lyft is a much smaller competitor to UBER, operating in 64 US cities with no international operations. Recent valuation is over $700 mm having raised $333mm in financing. http://www.lyft.com/.

The business model includes incorporating smartphone technology to locate the scooter, bill processing, advertising, brand building and marketing.  This convergence of modern smart phone technology and an age old transportation concept of "shared rides" is a perfect combination to take advantage of consumers desires for cost effective, convenient solutions to the high cost and inconvenience of urban transportation. The convenience of temporary usage, no fuel cost, no insurance, expensive taxis, no maintenance or repairs, inconvenient public transportation, unavailable parking and massive parking fines and fees are compelling urbanites in droves to seek cost effective alternatives.

ABOUT CitiScooter.com

CitiScooter is a shared transportation company offering Scooters by the hour from your phone. Locate, rent, start and ride scooters without the hassle of owning, gas and Insurance included. Smart Phone App gives you ability to get around the town, no sweat, traffic reports and much more.

About TGI Solar

TGI SOLAR POWER GROUP INC. is a diversified holding company. TGI's strategy is to acquire new-patented technologies, components, processes, designs and methods with commercial value that will give market advantage and generate shareholder value.

Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission.

SOURCE TGI Solar Power Group Inc.

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