ICP Solar Technologies Inc.
(OTCBB: ICPR), a developer, manufacturer and marketer of solar cells and products,
announced today that they have signed an agreement to begin supplying solar
energy solutions worth up to €15 million annually to Tejas Solares, a leading
residential solar system developer. To support their expansion in the Europe,
Middle East, African and Asia-Pacific markets, ICP is opening its EMEA –
PAC offices in Madrid, effective immediately.
Under the terms of the binding letter of intent, ICP Solar will provide a new
kind of solar tile specifically designed for Spanish home models, currently
under development, to Tejas Solares. In return, Tejas Solares will commit to
using ICP’s innovative solution in at least 2000 homes annually on the
Spanish market.
ICP’s new Madrid office, located at Avenida de La Vega 1, Edificio Veganova
in Alcobendas, will support this and all other contracts for European, Middle
Eastern and Asia-Pacific (EMEA-PAC) clients. Serving these strong solar markets,
the Spanish office will be perfectly placed to bring ICP Solar’s innovative
designs to Consumer, OEM and Building Integrated Solar Materials channels throughout
the region.
“Tejas Solares is constantly looking for innovative solutions to satisfy
the demanding requirements of the Spanish real estate market with regards to
solar energy. To accomplish this goal, we are partnering with ICP Solar Technologies,”
said Camilo Menendez, President of Tejas Solares. “Together, our two companies
have a deep knowledge of both the real estate and solar arenas. This alliance
will produce a unique offering in the marketplace, with emphasis on quality
and innovation.”
With nearly two decades experience in the solar industry, ICP has developed
solar products to fit a wide variety of applications. RV, automotive and boating
customers enjoy the cost-efficiency of solar power as their backup or main source
for recreational needs. Equally, home customers have the choice of traditional
solar panels or innovative solar tiles, which have the same ease of installation
and aesthetic appeal of traditional tiles.
“ICP Solar has invested years of research into its proprietary solar rooftop
solutions and is proud to announce this partnership with one of the leading
residential solar system developers in Spain. Tejas Solares brings years of
real estate development knowledge to our team, permitting us to adjust our technologies
to suit the consumer and market requirements, as never before seen,” said
Manuel Gomez, Managing Director for EMEA-PAC, ICP Solar. “Our integrated
solutions will provide customers with aesthetically-pleasing, easy-to-install
solar roof systems which permit consumers to earn payback under the Spanish
renewable energy laws more quickly than any other system on the market today.”
Posted 2nd January 2006