Oneworld will continue to focus on its principal businesses of development, procurement, construction, operation and service of solar and wind power installations, with a profitable and strong growth profile. “The completion of the MHB sale is part of the process to allow Oneworld to concentrate on its core operations with a view to achieving sustainable profitability and success”, said Barry O’Neill, President and CEO of Oneworld Energy Inc.

Mr. Peter Kampian, CFO and EVP of Oneworld, continued: “On behalf of Oneworld, we would like to thank Mr. Michael Heinrich and Mr. Jurgen Hartig as well as the MHB team for their contributions to the Oneworld family. We wish them all the best in the future.”

About Oneworld Energy Inc.:

Oneworld Energy Inc. is an international renewable clean energy company that commenced operations in 2003. The company is focused on the development, procurement, construction, operation and service of solar and wind power installations. The company is headquartered in Mississauga, Ontario and has approximately 75 employees located in 7 offices in Europe, North America and Asia. Oneworld provides services to third parties in a broad range of the value chain in the wind and solar sectors – development, procurement, construction, operation and service through its various operating units and is sourcing wind and solar projects that it can develop, own and operate.

This press release contains “forward-looking information” within the meaning of applicable securities laws relating to Oneworld, including information regarding the business of Oneworld. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this forward-looking information depending on, among other things, the risk that Oneworld does not realize the anticipated benefits of the transaction. Unless otherwise specified, the statements in this press release are made as of the date of this release. Oneworld undertakes no obligation to update forward looking information, other than as required by law, or comment on analyses, expectations or statements made by third-parties in respect of Oneworld or its respective financial or operating results or (as applicable), its securities.

Contacts:
Peter Kampian, CFO and EVP, Oneworld
Email: IR@oneworldenergy.com
Tel: 416.622.7007 ext. 223

I am writing this letter to give you an update on the status of the Company since our last communication on October 22, 2010, and to share with you our vision for the future.

As you read in our recent press release, Oneworld has postponed the process of listing its shares on the TSX Venture Exchange. While our presentations were well received by many investors in both Europe and across Canada, the funding available to us at the time was below the threshold required to become a listed company. Our situation is not unique, as capital market conditions of recent years have served as a barrier for many companies in their efforts to go public. One key takeaway for us has been that Oneworld would be more attractive to potential investors if we were able to clearly demonstrate that our Company is capable of generating positive returns. This will be our primary goal in the coming year.

We understand and share the desire of our shareholders for liquidity and management intends to make this a priority of Oneworld, even as we strive to build a company that all of us can be proud to invest in for years to come.

Over the last two years, Oneworld has grown both organically and by acquisition and increased revenue significantly. Management is now directing its efforts towards streamlining operations, improving profitability and cash flow and fully integrating the acquired businesses. We are undergoing a restructuring process so that we are better positioned to achieve these goals. Our plans include the sale of certain non-core operating assets which are no longer a fit with our growth and profitability objectives. This process will require us to make a number of changes to the Company in the coming months, and I believe we will emerge as a stronger, more focused entity. Our intention is to concentrate primarily on our core operations – namely wind and solar development & maintenance – with a view to establishing a consistent, growing revenue stream that generates sustainable profitability.

I joined the Oneworld family earlier this year when I sold my business to Oneworld to become a significant shareholder. I am excited to be leading this team, and confident that we will execute on the restructuring of Oneworld and then continue to build and grow a solid renewable energy company.  Although the work ahead of us will be difficult, the Management Team of Oneworld remains committed to growing this Company and creating shareholder value for all.

On behalf of everyone at Oneworld, we thank you, our loyal shareholders, for your continued support of Oneworld and its endeavors. Should you have any questions, please do not hesitate to contact me or Ms. Roxie Baryole (416.622.7007 ext. 223 or rbaryole@oneworldenergy.com).

We would like to wish you and your family a wonderful holiday season and will continue to keep you informed on the progress of Oneworld’s operations.

Sincerely,

Barry O’Neill

CEO

Telephone: 416.622.7007

Email:  info@oneworldenergy.com

Our Business is Energy.  Naturally!

This Letter to Shareholders includes certain “forward looking statements”. Without limitation, statements regarding potential renewable energy projects, division results, and future plans and objectives of the Company are forward-looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: risks inherent in developing and constructing renewable projects; risks associated with renewable operations in various geographical locations including governmental policies regarding renewable projects and feed-in tariffs associated with those projects; risks associated with anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts, the uncertainty of future profitability, access to the public markets and uncertainty of access to additional capital.  This Letter to Shareholders does not constitute an offer to sell or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any sale of these securities in any state or other jurisdiction in which offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction, nor does this Letter to Shareholders constitute an offering document or prospectus.

Oneworld will continue to focus on its core businesses of development, procurement, construction, operation and service of solar and wind power installations, with a profitable and strong growth profile. “Oneworld has determined that this disposition of certain assets will serve our goal of focusing on our core operations with a view to accelerating the path to enhanced profitability” said Barry O’Neill, President and CEO of Oneworld Energy Inc.

Mr. Peter Kampian, CFO and EVP of Oneworld, continued: “On behalf of the Oneworld Group, we would like to thank Mr. John Gamble and his Elgan team for their contributions to the Oneworld family. We wish them all the best in the future.”

About Oneworld Energy Inc.:

Oneworld is an international renewable clean energy company that commenced operations in 2003. The company is focused on the development, procurement, construction, operation and service of solar and wind power installations. The company is headquartered in Mississauga, Ontario and has approximately 80 employees located in 7 offices in Europe, North America and Asia. Oneworld provides services to third parties in a broad range of the value chain in the wind and solar sectors – development, procurement, construction, operation and service through its various operating units and is sourcing wind and solar projects that it can develop, own and operate.

This press release contains “forward-looking information” within the meaning of applicable securities laws relating to Oneworld, including information regarding the business of Oneworld. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this forward-looking information depending on, among other things, the risk that Oneworld does not realize the anticipated benefits of the transaction. Unless otherwise specified, the statements in this press release are made as of the date of this release. Oneworld undertakes no obligation to update forward looking information, other than as required by law, or comment on analyses, expectations or statements made by third-parties in respect of Oneworld or its respective financial or operating results or (as applicable), its securities.

Contacts:

Peter Kampian, CFO and EVP, Oneworld
Email: IR@oneworldenergy.com
Tel: 416.622.7007 ext. 223

Zephyr Farms Limited has applied to the Ontario Energy Board for an electricity generation licence. The granting of this licence would enable the applicant to generate electricity in Ontario.

The application will be decided by an employee of the Board who has been delegated this authority pursuant to section 6 of the Ontario Energy Board Act, 1998. The employee does not intend to provide for an award of costs when deciding this application.

How to participate in the hearing

The application will be decided by way of written hearing unless a party satisfies the Board that there is good reason for holding an oral hearing. If you object to a written hearing for this application, you must provide written reasons why an oral hearing is necessary. Any submissions objecting to a written hearing must be received by the Board and copied to the applicant by November 18, 2010.

If you wish to participate in a written hearing, you must forward two paper copies, and if possible, an electronic copy in Word format and searchable PDF format, of your written submission to the Board and one copy to the applicant. All submissions must be received by November 22, 2010. If the applicant wishes to respond to the written submissions, such response must be filed with the Board and copied to any party that made submissions by November 29, 2010.

All submissions must quote the relevant file number, and clearly state the sender’s name, postal address, telephone number, fax number and e-mail address. All communications should be directed to the attention of the Board Secretary at the address below, and be received no later than 4:45 p.m. on the required date.

Information relating to the application is available for viewing at the Board’s offices at the address provided below or by contacting the applicant. The address and contact information for the applicant are also provided below.

Further information on how to participate may be obtained by visiting the Board’s Web site at www.oeb.gov.on.ca or by calling our Consumer Relations Centre at 1-877-632-2727.

IMPORTANT
IF YOU DO NOT FILE A WRITTEN SUBMISSION OBJECTING TO A WRITTEN HEARING OR DO NOT PARTICIPATE IN THE HEARING BY FILING A WRITTEN SUBMISSION IN ACCORDANCE WITH THIS NOTICE, THE BOARD MAY PROCEED WITHOUT YOUR PARTICIPATION AND YOU WILL NOT BE ENTITLED TO FURTHER NOTICE IN THIS PROCEEDING.

Addresses:

DATED at Toronto, November 1, 2010

ONTARIO ENERGY BOARD

Original signed by

Kirsten Walli
Board Secretary

Oneworld has postponed its process for listing shares on the TSX Venture Exchange until further notice. The company’s primary focus will continue to be on its core operations with a view to accelerating the path to enhanced profitability.

Effective October 20th 2010, Chief Executive Officer R. Charles (Chuck) Allen has left the company to pursue other opportunities. Barry O’Neill, formerly Chief Operating Officer of Oneworld Solar, has been appointed Interim Chief Executive Officer. In addition, Executive Vice President and Chief Financial Officer Peter Kampian has been appointed to the Board of Directors.

“The Board of Directors has determined that the interests of our shareholders will be best served by remaining a private company until we have made further progress in achieving our strategic goals. Having successfully completed four acquisitions in the past 18 months, we will now shift our focus to integration and execution,” said Guy Lever, a Director of Oneworld Energy Inc. “Our strategic direction is unchanged. We remain very excited about the strength of our sales pipeline and the tremendous opportunities available to us in both North America and Europe.”

Mr. Lever continued: “We look forward to supporting Barry and the other members of the senior management team as we embark on this next stage of the company’s growth. On behalf of the Board, I would like to sincerely thank Chuck for his contributions to growing the company, and wish him all the best in his future endeavours.”

About Oneworld Energy Inc.
Oneworld is an international renewable clean energy company that commenced operations in 2003. The company is focused on developing, owning and servicing renewable energy assets in diversified geographic markets. The company is headquartered in Mississauga, Ontaario and has a approximately 100 employees located in 110 offices in Europe, North America and Asia. Oneworld provides services to third parties in a broad range of the value chain in the wind and solar sectors – development, procurement, construction, operation and service through its various operating units and is sourcing wind and solar projects that it can develop, own and operate.

Neither the TSX Venture Exchange, Inc. nor the Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) has, in any way, passed upon the merits of transaction which is the subject of this press release and none of the foregoing entities has in any way approved or disapproved of the contents of this press release.

This press release contains “forward‐looking information” within the meaning of applicable securities laws relating to Oneworld, including information regarding the business of Oneworld. Readers are cautioned to not place undue reliance on forward‐looking information. Actual results and developments may differ materially from those contemplated by this forward‐looking information depending on, among other things, the risk that Oneworld does not realize the anticipated benefits of the transaction. Unless otherwise specified, the statements in this press release are made as of the date of this release. Oneworld undertakes no obligation to update forward looking information, other than as required by law, or comment on analyses, expectations or statements made by third‐parties in respect of Oneworld or its respective financial or operating results or (as applicable), its securities.

Contacts:
Peter Kampian, CFO and EVP, Oneworld
Email: IR@oneworldenergy.com
Tel: 416.622.7007 ext. 223

Download this release

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