ICP Solar Technologies Inc. (OTCBB: ICPR), a developer, manufacturer and marketer of solar cells and products, has executed a binding letter of intent to purchase Discover Power Inc., another solar company.
“Discover Power’s team features over 18 years of experience in selling complete solar solutions for off-grid and grid-tie systems. Their location in Southern California is ideal given the Million Solar Roofs initiative being put into place by California Governor Arnold Schwarzenegger. Having installed the first ever solar roof shingle system in southern California and with a nationwide installer network, the Discover Power brand and organization will be a great addition in line with our growth plans,” said ICP Solar CEO and Chairman Sass Peress. “This revenue-generating acquisition compliments our strategy for rooftop solutions and creates immediate opportunities for ICP Solar’s retailer sales network to add significant off-grid and grid-tie solution offerings.”
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