February 23, 2010 (FinancialWire) — Real Paper Displays, Inc. (OTC: RPPR) said it has completed the acquisition of majority ownership of AquaStar Corp. for 100,000 restricted common shares of Real Paper Displays, Inc. valued at $.02 per share.

According to Real Paper, AquaStar has a technology that enables the use of water as a refrigerant in residential and light commercial air conditioners, replacing the environmentally hazardous chemicals used in all other air conditioners.

In a statement, the company said that AquaStar air conditioners “greatly exceed” the current environmental regulation of SEER 13, and set a new standard for ultra- efficiency ratings providing a SEER rating 40+. The designation means AquaStar will use 60% less electricity than conventional systems.

Malcolm Lennie, chairman of Real Paper Displays, said, “The addition of AquaStar offers the company a flagship product to its portfolio.”

California-based Real Paper Displays said it is a platform that launches new technology enterprises based on university research discoveries. The company provides professional teamwork in the early stage management.

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