Tejas Solares Agreement and New Office in Madrid Announced by ICP Solar

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

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