ICP Solar Technologies Inc. (OTCBB: ICPR, FRANKFURT: K1U), a manufacturer and marketer of solar cells and products, announced today it has signed a two year supply agreement with Shanghai Electric Solar Energy Co.
According to a company release, Shanghai Electric is the single largest Chinese enterprise engaged in the design, manufacture and sale of mechanical and electrical equipment. The group’s products cover more than ten industries ranging from Power Generation Equipment, Power Transmission and Distribution Equipment, Electromechanical integration equipment, Transport Equipment and Environmental Protection.
“This two year agreement enhances our position as a developer of innovative solar solutions,” said ICP Solar CEO and Chairman, Sass Peress. "This deal ensures that we will receive timely supply of solar modules at favorable prices and payment conditions in a market of tight supply and coupled with the company’s existing supply agreements, the company has now secured a majority of solar cell requirements for its 2008 planned production.”
“The importance of aligning ourselves with top quality business partners becomes more evident as we continue to increase our scale,” said Laurent Lafite, Vice President Marketing and Global Strategy. “We are continually evaluating our relationships in order to secure the best components and services and enhance the total value proposition and Sunsei® experience for our customers.”
About ICP Solar Technologies, Inc.
ICP Solar is a developer, manufacturer and marketer of solar cells and solar cell based products and building materials. Through the application of next-generation technologies and use of proprietary intellectual design the company aims to be the industry’s innovation leader. The company’s headquarters are located in Montreal, Canada, with additional locations in the USA, Spain, Ireland and France.
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