North Coast Solar Stocks

March 30, 2009

Entech Solar Announces Change in Strategic Direction

Filed under: ENSL — Tags: , , , , — Jason @ 8:00 am

Monday March 30, 2009, 8:00 am EDT

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar (ENSL), a leading developer of concentrating solar energy systems, today announced that it has suspended its manufacturing operations for its current generation of concentrating solar systems to enable the company to focus all of its resources on the rapid development and commercialization of its next generation products. This decision follows a thorough review of the Company’s go-forward growth strategy.

“The implementation of this change in strategic direction is already underway at Entech, and we have moved aggressively to reduce headcount and costs related to our current manufacturing operations,” said Frank Smith, CEO. “The Board made this strategic decision based on the promise of our next generation solar products, which will offer a significantly higher value proposition to customers and address a larger market, including rooftop applications, versus our current systems. The Company is restructuring itself around this new strategy and is dedicating all resources to ensuring its success.”

“I believe, along with the rest of the Board, that this is the best direction for Entech,” said David Gelbaum, Chairman of the Board. “Entech’s next generation solar concentrating products have the potential to be truly disruptive in the solar space – with improved efficiencies, reduced cost, smaller size, and additional applications. I am confident that the future of the Company lies with this development and am committed to seeing it reach commercialization.”

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