North Coast Solar Stocks

October 28, 2009

ICP Solar Provides Business Update

Filed under: ICPR — Tags: , , , , , — Jason @ 10:38 am

Company Continues to Cut Costs and Drive New Initiatives

10:38 am EDT, Wednesday October 28, 2009

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR), a developer and marketer of innovative, proprietary solar panels and products, announced that the Company has taken further measures to cut costs and decrease overhead even as funds start to flow from the recently-announced financing transaction with its lead investors. The Company has reduced monthly SG&A expenses by over 50% compared with 2008.

“ICP Solar continues to take the necessary steps to improve its business model ahead of the launch of our Energizer® product line,” said Sass Peress, CEO. “In addition, our investors have already begun funding strategic marketing initiatives including the development of our online retail store energizersolar.com, which is expected to go live and begin generating revenue during December. The website will feature ICP Solar’s full Energizer® solar product line and supporting content to make shopping easy and hassle-free.”

“We expect this new site to become a hub of activity for those people interested in learning more about solar energy and purchasing solar products”, added Howard Firestone, Director of Online Marketing for Energizersolar.com. “We are on track to meet all customer requirements and are excited about the months to come.”

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