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ICP SOLAR, EPOD SOLAR AND ROOF TOP ENERGY AGREE TO CONSOLIDATE OPERATIONS CREATING NEW COMPANY: SUNLOGICS
* Increases capability to exceed the company’s global reach beyond operating projects in Canada, United States, Germany, Ireland and Spain.
* Attracts significant investment commitments for the company’s projects managed in the new SunLogics Power Fund, allowing the company the unique ability to finance, build, own and operate its projects.
* Brings together significant intellectual property in project design, installation and solar panel manufacturing patents.
* Expects the SunLogics operations to be substantially accretive in 3Q 2010.
MODESTO, CA and KELOWNA, BRITISH COLUMBIA, August 26, 2010
ICP Solar, EPOD Solar and Roof Top Energy announced today an agreement to create SunLogics, resulting in a global solar leader. The new SunLogics will offer solar strategies for industry, utility, government, and residential applications. SunLogics expects to operate in a leadership position in solar solutions for rooftop and land applications along with consumer products marketed under the exclusive Energizer brand.
Michael Matvieshen, ICP Solar and EPOD Solar President and CEO, and Jack DeLiddo, President of Roof Top Energy, are Directors for SunLogics. Michael Matvieshen states, “The new company maximizes Jack’s 25 years of expertise in pioneering the engineering of rooftop solar installations that do not compromise roofing performance. Jack has completed some of the world’s largest rooftop solar photovoltaic installations.”
Management of both companies is integrating well into the new company structure. “We recently conducted strategic planning for the GM Volt Green Zone project at our Modesto offices. The combined management and engineering expertise provides the world class team to carry out global solar initiatives for GM and others,” said DeLiddo.
