ICP Solar Signs Agreement to Acquire Wes Power

    New Products Will Set Standard for Renewable Energy Communication Systems

    MONTREAL, August 27 /CNW/ - ICP Solar Technologies Inc. (OTCBB: ICPR,
FRANKFURT: K1U.F), a developer, manufacturer and marketer of solar cells and
products, announced today announced that it has entered into an agreement to
acquire privately held Wes Power, a leader in renewable power performance
management systems.

    "We believe that the acquisition of Wes Power and its GreenMeter(TM)
technology is strategically important for us," said ICP Solar CEO and
Chairman, Sass Peress. "We have always been focused on innovation and creating
products that offer the best performance and features. When combined with our
patented rooftop solar tile technology, we will now be in a position to
provide our current customers, as well as new power generation channel
customers, with a real-time communications interface with their systems. This
will give our company a competitive advantage in the marketplace and position
us to become a leader in this fast growing renewable power category."

    All of the ICP Solar chargers come with Plug'n'Play(TM) for quick
connectivity, several adaptors for different applications including the
GreenMeter(TM) which includes desktop software that records and displays the
power generated from panels and up to the minute information on greenhouse gas

    "ICP Solar has clearly established itself as a leader in the solar energy
industry and we are pleased to become part of the team that is working to
accelerate the evolution of the solar energy experience," said Wes Power CEO,
Gerry Heffernan. "We look forward to bringing together our technologies and
creating the next generation of solar energy products."

    Financial terms of the proposed transaction were not released.

    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. For the past 19 years,
ICP Solar has led the consumer market through innovation and has now begun to
apply that same philosophy to the OEM, rooftop and power generation segment of
the solar industry. ICP Solar's management has over 50 years of experience in
the renewable energy sector. The company's headquarters are located in
Montreal, Canada, with additional locations in the USA, Spain, Ireland and

    Corporate information may be found at www.icpsolar.com

    About Wes Power Technology Inc.

    WES Power Technology Inc. is a St. John's Newfoundland based company that
is developing a line of performance management products for the renewable
power market, for which wind and solar are key power sources.

    Corporate information may be found at www.wespt.com

    The forward-looking statements herein include, but are not limited to,
the expected expansion of our solar solutions into Europe Middle East, Asia
and Africa. Our actual results may differ materially from those implied in
these forward-looking statements as a result of many factors, including, but
not limited to, overall industry environment, customer acceptance of our
products, delay in the introduction of new products, further approvals of
regulatory authorities, adverse court rulings, production and/or quality
control problems, the denial, suspension or revocation of permits or licenses
by regulatory or governmental authorities, termination or non-renewal of
customer contracts, competitive pressures and general economic conditions, and
our financial condition. These and other risks and uncertainties are described
in more detail in our most recent SB-2 filing with the Securities and Exchange
Commission. Forward-looking statements speak only as of the date they are
made. We undertake no obligation to update or revise such statements to
reflect new circumstances or unanticipated events as they occur, except as
required by applicable laws, and you are urged to review and consider
disclosures that we make in the reports that we file with the Securities and
Exchange Commission that discuss other factors germane to our business.

For further information:

For further information: ICP Solar Laurent Lafite, 514-270-5770
Llafite@icpsolar.com or Lippert Heilshorn Jody Burfening/Elric Martinez
212-838-3777 emartinez@lhai.com

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890