North Coast Solar Stocks

November 17, 2009

Energizer Licensees ICP Solar and Universal Power Group Join Forces

Filed under: ICPR — Tags: , , , — Jason @ 8:49 am

Joint Operations and Product Supply to Increase Sales

8:49 am EST, Tuesday November 17, 2009

MONTREAL & CARROLLTON, Texas–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR), a developer and marketer of innovative solar panels, solar chargers, energy meters and other solar powered devices, today announced that it has partnered with Universal Power Group (UPG) in a third-party logistics and supply arrangement designed to leverage ICP Solar’s broad product line and UPG’s sourcing and distribution expertise.

“Since UPG is also a licensing partner in the Energizer® program and a major provider of third-party logistics for battery-based systems, we are collaborating with them to substantially improve ICP Solar’s in-stock performance and also add their complementary products to our offerings,” said Sass Peress, CEO of ICP Solar Technologies. “This relationship will also enable UPG to offer ICP Solar’s innovative line of Energizer-branded solar chargers to their own vast customer base. By drawing on UPG’s inventory and logistics support, ICP Solar can now increase its focus on innovation, marketing and sales. We expect this agreement to significantly improve our revenues and positively impact our bottom line for our next fiscal year.”

UPG is a leading, Texas-based distributor and supplier of batteries and related power accessories and a provider of supply chain and other value-added services. In December 2008, UPG entered into a licensing agreement with Energizer Holdings, Inc. to develop a line of automotive power products under the Energizer brand for distribution through mass, specialty and automotive stores.

“We are delighted to combine our expertise in third-party logistics with ICP Solar, while also expanding the breadth of Energizer-branded products we can offer to our combined target markets”, said UPG’s president and CEO, Ian Edmonds. “This marks another step in UPG’s long-term strategy of penetrating new markets through strategic alliances, while introducing new products to our existing customers. As a result, we can offer our retail and strategic partners a more complete line power accessories, while also adding opportunities for additional services and new distribution outlets. In addition, diversifying our markets minimizes UPG’s exposure to any one segment of the economy. ICP Solar is an example of the kinds of strategic partnerships we are seeking today, and we look forward to a mutually beneficial relationship for the long term.”

About Universal Power Group, Inc.

Universal Power Group, Inc. (UPG) is a leading supplier and distributor of batteries and power accessories, and a provider of supply chain and other value-added services. UPG’s product offerings include proprietary brands of industrial and consumer batteries of all chemistries, chargers, jump-starters, 12-volt accessories, solar and security products. UPG’s supply chain services include procurement, warehousing, inventory management, distribution, fulfillment and value-added services such as sourcing, battery pack assembly, coordination of battery recycling efforts, and product design and development. For more information, please visit the UPG website at http://www.upgi.com.

About Energizer Holdings, Inc.

Energizer Holdings, Inc. [ENR], http://www.energizer.com, headquartered in St. Louis, Missouri, is one of the world’s largest manufacturers of primary batteries, battery-powered devices and flashlights. Energizer, a global leader in the dynamic business of providing portable power geared toward the new digital age, offers a full portfolio of products including the Energizer® MAX® premium alkaline brand; Energizer® Ultimate Lithium; Energizer® Advanced Lithium and Nickel Metal Hydride (NiMH) Rechargeable batteries and chargers.

The Energizer product line also includes specialty batteries for hearing aids, health and fitness devices, as well as for keyless remote entry systems, watches and other uses. Through its flashlight and lighting products unit, Energizer helps bring consumer insight and innovation to these important household devices. Energizer continues its role as a technology leader with Energizer® Energi To Go®, portable battery powered chargers for cell phones.

November 3, 2009

Energizer® Solar Program Selected by Costco

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

Strong Brand and Innovation to Fuel Growth For ICP Solar

8:00 am EST, Tuesday November 3, 2009

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (OTCBB: ICPR), a developer and marketer of innovative, proprietary solar panels, solar chargers, energy meters and other solar powered devices, today announced that it has been awarded programs from Costco Canada worth up to $1million, a substantial increase from 2009, indicative of the Company’s expanded product portfolio. Shipments of the solar chargers are expected to begin during the fourth quarter.

“We have a longstanding relationship with Costco and are excited to serve them with our growing product line in 2010,” said Sass Peress, CEO. “This commitment reflects a substantial increase over last year, and Costco has expressed confidence in even greater success than previous years with upcoming Energizer® branded solar chargers. Consumers are looking for strong brands in a market which is becoming more and more educated about quality distinctions when compared to no-name look-alikes. Considering the support that ICP Solar will receive from Energizer® through its own website, and the awareness that the energizersolar.com initiative will bring, we believe this will be the best year ever for this program. With clients such as Costco and others to be announced shortly, ICP Solar is working towards strengthening its distribution partnerships, improving its marketing programs, and ensuring complete customer satisfaction with its industry-leading innovations.”

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.”

October 13, 2009

ICP Solar Enters Into New Financing Agreement

Filed under: ICPR — Tags: , , , — Jason @ 7:00 am

Investors to Supply Funds for Growth in 2010

7:00 am EDT, Tuesday October 13, 2009

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer and marketer of innovative, proprietary solar panels and products, announced that it has reached an agreement with its core investors to reinvest up to $800,000 over a six month period, beginning today, in the form of a one year loan bearing 11% coupon. This transaction will provide funding for the Company’s many new product introductions planned for the coming quarters.

“ICP Solar’s investors have once again pledged their support to the company and our strategic growth initiatives now underway,” said Sass Peress, CEO. “Specifically, this financing will enable us to move forward with rapidly bringing our new Energizer® product line to market and bolster other efforts to strengthen the company’s industry position. We remain focused on top line growth, cost containment, and margin expansion. Our investors clearly understand ICP Solar’s improving business model and the goal of becoming cash-flow positive as soon as possible – which we see as achievable next year. I personally wish to thank our investors for their continued dedication to the future of ICP Solar.”

September 24, 2009

ICP Solar Sees Initial Demand for Energizer® Line

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

American Retailers to Replace Generic or Other Branded Products

Thursday September 24, 2009, 8:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer and marketer of innovative, proprietary solar panels and products, today announced that the Company has received positive feedback from two of its largest customers and several new retail prospects regarding the launch of its upcoming Energizer® branded solar chargers. These well-known retail channel partners plan to help market the new products and provide significant exposure on shelves. Initial shipments are still anticipated for the fourth quarter.

“Strong brands build strong bonds with their customers, and our retail partners know this is the case with Energizer® branded products,” said Sass Peress, Chairman and CEO. “Our retailers expect high demand for Energizer® solar chargers – anticipated to out sell all other brands in the category – and we will likely have firm orders in place before the end of the third quarter. In addition to traditional retail channels, the upcoming November launch of the e-Commerce focused Energizersolar.com website, as well as several social media initiatives, are expected to increase overall consumer awareness, visibility and sales of Energizer branded® solar solutions. Our products will form part of the Energizer® ‘Complete Solution’ for portable, rechargeable energy storage worldwide, and we are excited to move forward with this rollout as soon as possible.”

September 14, 2009

ICP Solar Announces Fiscal 2010 Second Quarter Financial Results

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

Margin Improvement Continues as New Products Set for Launch

Monday September 14, 2009, 8:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced financial results for its second fiscal quarter ended July 31, 2009.

Highlights for the Quarter

* ICP Solar posted sales of $1.4 million for the fiscal second quarter and gross profit of $0.4 million, or 26% of sales, versus a gross margin of 17% in the prior year period even as revenues fell due to the global recession and supply chain issues.
* Shipments were negatively affected during the quarter by vendor constraints in China, where many traditional suppliers have gone out of business in the current economic environment. ICP Solar worked to quickly switch to larger, more established vendors and ship products to customers, but the transition resulted in lower revenue and a negative impact to gross margins.
* SG&A expenses declined 50% in the quarter ended July 31, 2009 versus the second quarter of fiscal 2009 and were down 14% sequentially from the fiscal 2010 first quarter.
* ICP Solar also recently announced a number of initiatives to expand its product line and accelerate growth, including new solar chargers with Konarka, a global licensing agreement with Energizer®, and an upcoming line of portable power products sold under the iSun® brand.

“While ICP Solar initiated several new product developments this quarter and made further progress towards profitability, we were disappointed with the Company’s overall financial results,” said Sass Peress, CEO. “Anticipating that the global economic slowdown would have an impact on end-user demand, we managed our inventory levels judiciously and conserved cash. However, orders were higher than expected, and we thus found it necessary to make and ship products to our distributors via air freight and other less attractive methods, negatively impacting our gross margins. Furthermore, quite a few of our suppliers in China had become unreliable in the current environment or gone out of business altogether, so ICP Solar found it necessary to switch to other vendors during the period – costing both time and money. While these factors were unanticipated, we are now better positioned with stronger suppliers and better forecasting tools to manage working capital requirements.

“During the quarter and afterwards, ICP Solar announced a number of exciting new product rollout initiatives that we believe will strengthen our industry position and bolster our growth rate going forward. Our relationship with Konarka brings cutting edge, inexpensive solar chargers utilizing their patented Power Plastic® solar cells, and the global licensing agreement with Energizer Holdings will broaden our product portfolio across a number of new markets. In addition, the upcoming launch of the Energizersolar.com and Energizersolar.eu websites will provide valuable exposure and increased awareness for ICP Solar. We expect to see products from both the Konarka and Energizer partnerships become available during the fourth quarter. Our GreenMeter® global rollout continues, and we recently also announced that our iSun® brand of portable solar chargers will soon be available for sale as well. ICP Solar is clearly laying out a strategy to rapidly grow the Company in the quarters to come.

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August 31, 2009

ICP Solar to Introduce iSun® Mobile Products

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

Ground-Breaking Pocketable Applications

Monday August 31, 2009, 8:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer and marketer of innovative, proprietary solar panels and products, today announced that the Company plans to introduce its long-anticipated line of iSun®-branded portable solar chargers before the end of September. The chargers, targeted to road warriors and urban explorers who are always “on the go,” will easily interface with most cell phones and PDAs and are designed to be scalable, modular, pocketable, and attractive. They will be sold through distributors worldwide and over the Company’s website.

“We are excited to finally bring to market these fresh, cutting-edge solar chargers designed specifically for today’s huge portable communication market,” said Sass Peress, Chairman and CEO. “Our iSun® products – offered in sleek, user-friendly applications that are as attractive as they are practical – represent the next generation of innovation at ICP Solar and are designed for the billions of cell phones and PDAs already operating worldwide. For power-hungry smart phones, mobile music players, and GPS devices, the iSun® will offer a practical, easy-to-use answer for getting energy quickly and efficiently. ICP Solar, in broadening its portfolio beyond its existing sunsei®, Coleman®, and Energizer® brands, expects to see accelerating revenue growth and improved bottom line results as it provides dependable solar solutions for all kinds of lifestyles.”

July 21, 2009

ICP Solar to Launch New Products at Outdoor Retailer Show

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

Disruptive Technology to Boost Coleman Charger Portfolio

Tuesday July 21, 2009, 8:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer and marketer of innovative, proprietary, next-generation solar panels and products, today announced several of the Company’s products will be on display at the Outdoor Retailer Summer Market July 21-24 in Salt Lake City, Utah. The Outdoor Retailer Summer Market is billed as the world’s largest outdoor sports industry gathering, bringing retailers and media together with over 1,000 brands in the business of producing and selling the active outdoor lifestyle. ICP Solar’s Coleman®-branded solar chargers and accessories will be on display at Coleman booth #36104.

One of the revolutionary products to be highlighted will be a solar charger that ICP Solar has developed in conjunction with Konarka Technologies. Konarka is a leader in solar plastic films that convert light into energy, utilizing organic photovoltaic (OPV) technology as a source of renewable power. Konarka’s Power Plastic® is lightweight, flexible, scalable and adaptable for use in a variety of commercial and consumer applications. ICP Solar and Konarka have designed a new line of solar chargers utilizing Konarka’s Power Plastic® solar cells, integrated under ICP Solar’s specifications. The units are to be sold in North America under the Coleman® brand and should be available in the fourth quarter of 2009 via the internet sites of a number of major retailers along with http://www.colemansolar.com.

“This relationship with Konarka is one more example of ICP Solar expanding its global reach with new, innovative technologies and partnerships to better position the company for sustained growth and profitability,” said Sass Peress, Chairman and CEO of ICP Solar. “We expect thousands of visitors to be at the Outdoor Retailer show this week and can think of no more appropriate venue to showcase these solar chargers, marketed under the respected Coleman® brand name. Given the uniqueness of Konarka’s OPV applications, we look forward to a long and beneficial relationship and the opportunity to offer additional low-cost, cutting edge solar solutions in the years to come.”

About Konarka Technologies, Inc.

Konarka develops and manufactures solar plastic films that convert light to energy – anywhere. As the leading developer of polymer-based, organic photovoltaic (OPV) technology that provides a source of renewable power in a variety of form factors, Konarka has a broad portfolio of patents, technology licenses and an accomplished technical, scientific and manufacturing team. Manufactured at low cost and low energy consumption, the company’s Konarka Power Plastic® technology is lightweight, flexible, scalable and adaptable for use in a variety of commercial, industrial, government and consumer applications. Konarka Technologies is headquartered in Lowell, Mass., U.S.A. and has a full scale production manufacturing facility in New Bedford, Mass. U.S.A., with European headquarters in Nurnberg, Germany, business development offices in Asia and a research and development facility in Austria. For additional information, visit http://www.konarka.com.

July 20, 2009

ICP Solar Launches European sunsei® E-Commerce Site

Filed under: ICPR — Tags: , , — Jason @ 11:00 am

Leverages Successful North American Site for Solar Powered Lifestyle Products

Monday July 20, 2009, 11:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer and marketer of innovative, proprietary solar panels and products, today announced the launch of its European e-commerce website http://www.sunsei.eu for innovative solar lifestyle products. The European platform follows the successful introduction of an upgraded sunsei® website (www.sunsei.com) for North America in June, 2008.

Both sunsei® sites serve as online retail stores for sunsei®-branded solar products and accessories. The sunsei® product line consists of superior portable solar chargers, battery maintainers, lights, vents, and GreenMeters®. sunsei® applications are designed for recreational and residential use, including marine, RV, camping, and many other outdoor activities.

“The launch of our European sunsei® website is an important development in our efforts to enable consumers to embrace the solar revolution,” said Sass Peress, CEO. “Our expanded platform provides a greater means to educate our audience while offering easy access to the entire sunsei® product line. With a direct link to European consumers, we will be able to ensure complete customer satisfaction and assess how to best broaden our pipeline of solar powered applications going forward.”

The new European website is modeled after the site serving North America. The website includes an innovative energy portal with monitoring services dedicated to industrial and home applications. When combined with ICP Solar’s sunsei® Greenmeter®, it allows users to manage their Greenmeter® data storage and keep track of carbon credits remotely and in real-time. The site facilitates a customer’s integration of solar power into their lives, highlighting the savings that can accrue while helping the environment.

July 2, 2009

ICP Solar Secures Licensing Agreement with Energizer

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

Positions Company for Further Global Expansion

Thursday July 2, 2009, 8:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced that it has signed a global licensing agreement with Energizer (ENR). Under the terms of this agreement, Energizer, one of the world’s largest manufacturers of primary batteries and flashlights, will grant ICP Solar the global rights to its trade name for solar-powered chargers and related products. The agreement, to run three (3) years, takes effect immediately.

“Teaming with Energizer is a very significant achievement for ICP Solar and speaks to both the high quality of our products as well as our reputation for technology innovation,” said Sass Peress, CEO. “Energizer is a leader in providing portable power for numerous applications worldwide, and we are proud to be working with such an esteemed organization going forward. We will begin rolling out products in North America as soon as the third quarter and anticipate these sales will further bolster our financial performance heading into 2010. We plan to launch two dedicated websites – http://www.energizersolar.com and http://www.energizersolar.eu – later this year, as the international nature of this agreement is expected to provide immediate access to a host of new geographic markets. Energizer®-branded solar chargers will be sold in tandem with rechargeable batteries, serving the growing demand for renewable, portable power.”

“We are pleased to enter into such an important strategic relationship with ICP Solar,” said Danielle Kyriakos, Director of New Business Development of Energizer. “Energizer is committed to providing innovative solutions to power people’s lives and we know that solar is a power application that consumers are looking for to help them Keep Going. We look forward to a long and productive partnership with ICP Solar.”

About Energizer:

Energizer Holdings, Inc. [NYSE: ENR], http://www.energizer.com, headquartered in St. Louis, Missouri, is one of the world’s largest manufacturers of primary batteries, battery-powered devices and flashlights. Energizer, a global leader in the dynamic business of providing portable power geared toward the new digital age, offers a full portfolio of products including the Energizer® MAX® premium alkaline brand; Energizer® Ultimate Lithium; Energizer® Advanced Lithium and Nickel Metal Hydride (NiMH) Rechargeable batteries and chargers.

The Energizer® product line also includes specialty batteries for hearing aids, health and fitness devices, as well as for keyless remote entry systems, watches and other uses. Through its flashlight and lighting products unit, Energizer helps bring consumer insight and innovation to these important household devices. Energizer continues its role as a technology leader with Energizer® Energi To Go®, portable battery powered chargers for cell phones. Additional information may be found at http://www.Energizer.com.

June 18, 2009

ICP Solar Announces Cabins Incorporating GreenMeter® Technology

Filed under: ICPR — Tags: , , — Jason @ 9:00 am

Thursday June 18, 2009, 9:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced that Norwegian distributor Power Controls AS has begun selling “Smart Energy Station” vacation cabins which incorporate the GreenMeter® for remote applications. Available in Europe, Russia, and soon Canada, the prefabricated wooden units, approximately six square meters in size, are meant to serve the large demand for outdoor cabins and datchas where people vacation in these regions. Each log house is a waterproof station with automatic ventilation, solar panels, lighting, voltage outlets, and an optional GreenMeter® to measure energy usage. The power stations are delivered as turnkey solutions – completely ready to use, with everything installed and tested. ICP Solar GreenMeters® monitor the performance of the power system.

“Power Controls has been a great partner for ICP Solar, and their latest offering is an amazing concept – a totally clean, green cabin for outdoor use and family vacations,” said Sass Peress, CEO. “Utilizing the GreenMeter® as well as some of our other products, these units truly offer individuals the opportunity to enjoy the wilderness while leaving virtually no carbon footprint behind. We look forward to continue working with companies such as this to bring innovative, practical renewable energy products to the world.”

The prefabricated huts are currently manufactured in Norway and will soon also be made in Canada. Interested parties are encouraged to contact either ICP Solar (Laurie McCabe, Business Development Manager for Monitoring and Metering) or Power Controls AS (Dag Halvorsen, CEO). These products can be viewed at http://www.powercontrols.no.

June 15, 2009

ICP Solar Announces Fiscal 2010 First Quarter Financial Results

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

Company Expects to Reach Breakeven within Second Quarter

Monday June 15, 2009, 8:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced financial results for its first fiscal quarter ended April 30, 2009.

Highlights for the Quarter

* Sales were $1.4 million for the fiscal first quarter, up 60% sequentially versus the $0.9 million reported in the fourth quarter of fiscal 2009
* Gross profit was $0.4 million, equating to 29% of sales, versus a gross loss in the fourth quarter of fiscal 2009
* SG&A expenses declined 36% in the quarter ended April 30, 2009 versus the first quarter of fiscal 2009 and were down 19% sequentially from the fiscal 2009 fourth quarter. This amounts to an annualized reduction of over $2 million versus fiscal 2009, beating prior expectations.
* ICP Solar also recently announced the hiring of Laurie McCabe as Business Development Manager for Monitoring and Metering, and the Company saw high demand for its products at Intersolar – where it booked a number of GreenMeter® orders

“ICP Solar continued to show steady improvement in its operating results this quarter and remains on track for strong performance in fiscal 2010,” said Sass Peress, CEO. “Sequentially, our sales grew 60% even as the global economy remained weak, and we reported a gross profit margin of 29%, which we expect will rise further in the quarters to come. Following our well-attended presence at Intersolar in Germany, we also have no doubt that our solid order backlog will post additional gains going forward as more individuals and organizations come to understand and appreciate the innovative, practical, and money-saving benefits of our patented GreenMeter® technology. The certifications we’ve received in Australia and California are but the first of many we anticipate having worldwide.

“ICP Solar is seeing improving demand trends across its business lines, and we are working on several new product initiatives which we will begin to roll out this coming quarter. In the meantime, the Board and I remain committed to the success of the Company and are optimistic about the remainder of calendar 2009. We are keeping a tight control over cash usage – as evident from our lower SG&A – and have secured sufficient financing to carry us through our expansion plans this year and beyond. ICP Solar has the brands, the people, and the technology to grow into a leading supplier of solar-powered solutions, and we expect to reach breakeven during the second quarter of fiscal 2010.”

Financial Results

Revenue for the first quarter of fiscal 2010 was $1.4 million, as compared with $1.9 million for the first quarter of fiscal 2009, reflecting the global economic impact on timing of product shipments; revenue increased 60% sequentially from the $0.9 million reported in the fourth quarter of fiscal 2009. Gross profit was $0.4 million, versus a slight gross loss in the fiscal 2009 fourth quarter. The Company’s operating loss for the quarter was $(0.7) million versus $(0.9) million in the prior year period and $(1.3) million in the fourth quarter of fiscal 2009, with the decrease primarily due to lower SG&A expense. The Company posted a comprehensive net loss for the first quarter of $(6.0) million, or $(0.17) per diluted share, compared with a net loss of $(0.9) million, or $(0.03) per diluted share, for the first quarter of fiscal 2009. Results for the current period include approximately $5.2 million in non-cash charges related to the Company’s warrants and convertible debentures.

Conference Call

ICP Solar will host a conference call at 10:00 a.m. Eastern on June 15, 2009 for the fiscal first quarter ended April 30, 2009. During the call, Sass Peress, CEO, will review the company’s operations and financial results. The telephone number for the conference call is 800-938-1123.

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June 3, 2009

ICP Solar Experiences Strong GreenMeter Demand at Intersolar

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

Company Concurrently Receives Approval to Supply Australia Initiative

Wednesday June 3, 2009, 8:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced that the Company saw heavy turnout at its Intersolar booth in Munich, Germany and received orders for GreenMeter® equipment in Europe, North America, Australia, and the Middle East. Several hundred visitors were drawn to the ICP Solar display, including a number of existing users of the GreenMeter®.

While at Intersolar, ICP Solar was informed that the GreenMeter® had been approved for listing in the Australian National Register for the National Solar Schools Program, an initiative to outfit the country’s education facilities with solar power and monitoring devices. The program is meant to provide both clean energy and teaching tools, and ICP Solar expects the GreenMeter® approval could potentially lead to the sale of thousands of units in the coming year.

“The events of the past week clearly demonstrate the growing demand for our GreenMeter® products worldwide,” said Laurie McCabe, Business Development Manager for Monitoring and Metering. “Not only were new clients placing orders at Intersolar, but existing test customers came by and expressed great satisfaction with the systems – as they are easy to install and provide information that aids the sale of solar installations, validating proof of concept and return on investment. With the GreenMeter®, people can instantly see the impact of utilizing alternative energy to reduce overall power costs.

“We also anticipate that our presence in Australia will rapidly expand due to the National Solar Schools Program. ICP Solar will be shipping its next generation GreenMeter® products later this month, and we have already built significant brand awareness across the globe.”

April 29, 2009

ICP Solar Announces Fiscal 2009 Fourth Quarter Financial Results

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

Progress Continues on Path to Profitability

Wednesday April 29, 2009, 8:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced financial results for the fourth quarter and twelve months ended January 31, 2009.

Highlights for the Quarter

* Sales were $0.9 million for the fiscal fourth quarter, up 39% from $0.7 million in the fourth quarter of fiscal 2008
* SG&A expenses declined 50% in the fourth quarter ended January 31, 2009 versus the fourth quarter of fiscal 2008
* Adjusted EBITDA was $(0.9) million for the quarter, versus $(1.8) million in the quarter ended January 31, 2008
* ICP Solar also recently announced a number of important developments, including an expanded licensing agreement with The Coleman Company, the introduction of additional long-lasting Sunsei® lighting products, and new distribution partnerships with both OutBack Power Systems and Integrated Metering Systems

“In line with what was stated when we reported preliminary results for the fourth quarter in February, ICP Solar has achieved a good deal of progress with regards to both its streamlining efforts and growth initiatives this year,” said Sass Peress, CEO. “Even with the global economy still finding its footing, we are seeing steady demand for our products and a robust order book for fiscal 2010. In addition, we continue to offer superior, innovative solutions within the market for renewable energy applications, as demonstrated by our successful rollout of the Sunsei® GreenMeter® systems in North America and abroad. We believe that the wide variety of stimulus measures being enacted across the globe – and the increasing interest in solar-powered products – will provide upward momentum to our expansion plans going forward.

“In recognition of our current positioning, expertise, and the optimism we see for the future of our industry, ICP Solar will hold its first ever earnings conference call on Wednesday, April 29th for the fourth quarter of fiscal 2009. We certainly hope that many long term investors and equity research analysts can join us as we review results and discuss our growth strategy for fiscal 2010. As the economy recovers and oil prices invariably rise, we anticipate even greater interest in our unique, mobile, technology-leading solar applications. ICP Solar has never been better positioned for growth and performance improvement than it is today.”

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April 8, 2009

ICP Solar Announces Extended Agreement with The Coleman Company

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

New Deal Expands into Latin America

Wednesday April 8, 2009, 8:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced that The Coleman Company, Inc. has agreed to extend its licensing, marketing and distribution agreement for three years, effective immediately. ICP Solar will continue to provide Coleman® branded solar chargers for sale in such well-known retail chains as Sam’s Club, Wal-Mart, and Costco in North America for this contract period.

“By extending our exclusive licensing agreement for three years, as well as expanding into Mexico, Coleman has endorsed our innovative product lines and the quality that we have provided since 2001,” said Sass Peress, CEO. “Our Coleman® branded solar chargers have consistently outsold the generic competition, and we are grateful not only for Coleman’s dedication to ICP Solar but also for their assistance in gathering the customer feedback essential for both product development and quality assurance. We are committed to providing rugged, practical, and affordable solar applications that meet the needs of the Coleman consumer.”

“We are delighted to have ICP Solar continue as our sole licensee for solar-powered charger products for many years to come,” added Jason McClintock, Senior Director of Licensing at Coleman. “We have a longstanding relationship that has proven to be beneficial and given our customers a great, reliable way to enjoy the outdoors in an environmentally friendly way – harnessing the power of the sun.”

March 31, 2009

ICP Solar Announces Business Update

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

Key Operating Metrics All Pointing in Positive Direction

Tuesday March 31, 2009, 8:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced that it continues to see traction in its path to profitability this year. Since the beginning of 2009, the Company has further reduced overhead expenses and increased gross margins, while its order book remains strong. In light of these operational improvements, the Company anticipates holding its first ever earnings conference call on or around April 29th for its fiscal year end. Additional details will be forthcoming.

“We are pleased to report continued improvement in our performance and the underlying fundamentals of our business,” said Sass Peress, CEO. “Our order book remains healthy, and we have seen new orders stay relatively constant as the year progresses. In addition, our Sunsei® GreenMeter® distribution has gone according to plan, and we have several installations up and running flawlessly – with many new products set to be launched in the months ahead thanks to the substantial research and development conducted during the past year. In challenging times such as these, we are gratified to see consumers remain steadfast in their choice of the high-quality Sunsei® and well-recognized Coleman® brands, which fit the needs for versatility, durability, and ease of use in a variety of solar energy applications. ICP Solar sees fiscal 2010 as starting off well, and we look forward to holding our first ever earnings call later next month.”

March 24, 2009

ICP Solar Announces New, Best in Class Lighting Products

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

Tuesday March 24, 2009, 8:00 am EDT

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR), a developer, manufacturer and marketer of proprietary solar panels and products, announced that it has begun selling what it considers to be some of the longest-lasting solar lighting products on the market today. The Company’s Sunsei® solar lights, in a variety of shapes and sizes for outdoor applications, are built of marine-grade stainless steel and often come with built-in motion detectors.

“Our expanded line of Sunsei® light fixtures have been designed primarily with two things in mind – durability and longevity,” said Sass Peress, CEO. “We believe our solar-powered lights now offer the consumer some of the longest-lasting applications on the market and are rugged enough to withstand a broad range of extreme outdoor elements. Given the significant market for outdoor lighting, we are very excited to see these new products available for shipment prior to the busy summer season. Initially being rolled out across North America and available on our website as well as at select retail locations, our Sunsei® lights are the latest innovative offering to respond to the demand for clean, renewable energy worldwide.”

March 3, 2009

Sunsei® GreenMeter Approved for Rebates in California

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

Tuesday March 3, 8:00 am ET

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced that the Company’s Sunsei® GreenMeter™ has been approved for certain solar-based incentives in the State of California. Specifically, the GreenMeter™ has been added to the list of approved products under California’s PMRS subsidy program, such that residents installing this unique ICP Solar application will qualify to receive rebates, tax credits, and other incentives under the “Go Solar California” initiative – a $2.2 billion program. The Sunsei® GreenMeter™ is now listed as an eligible Meter and the associated web service is listed as an eligible Performance Monitoring and Reporting Service provider.

“California installers can now offer their clients an advanced, accurate metering and monitoring product with an even more attractive value proposition – making it easier to spur adoption of this innovative, solar-powered solution,” said Sass Peress, CEO. “Expanding into the California solar market – the largest in North America – is critical to our successful rollout out of the Sunsei® GreenMeter™ and establishing it as the leading application of its kind.”

February 24, 2009

ICP Solar Provides Preliminary Fourth Quarter Results

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

Tuesday February 24, 8:00 am ET

Sales Exceed Expectations – Climb 45% Over Prior Year Period

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced preliminary financial results for the fiscal fourth quarter ended January 31, 2009.

* Revenue rose 45% over the fiscal fourth quarter of 2008, to approximately $950,000
* Despite normal year end writedowns, the Company posted positive gross profit of approximately $76,000 in the fiscal fourth quarter versus a loss in the prior year period
* SG&A was down approximately 53% in the fourth quarter ended January 31, 2009 versus the fourth quarter of fiscal 2008

“We are very satisfied with the Company’s progress made in the fourth quarter, particularly the effects our cost reduction program has had – ahead of schedule,” said Sass Peress, CEO. “ICP Solar has taken tremendous steps towards reducing its cash burn rate and achieving profitability, and we remain well positioned for solid top line growth in calendar 2009, as indicated by our much stronger fourth quarter sales despite a challenging economic environment.

“Our order book clearly indicates strong demand for our Sunsei® brand of solar chargers, and we are encouraged by the rollout of our Sunsei® GreenMeter™ systems across North America as well as by positive tests overseas. Our innovative solar products and solutions continue to offer practical advantages to the everyday consumer versus less-versatile, lower-performing alternatives. In addition, the stimulus packages now being enacted worldwide are expected to fuel further demand for metering alternative energy applications such as ours.”

The Company plans to release full audited fiscal year results on or before May 1st, 2009

February 10, 2009

ICP Solar and OutBack Power Systems Team Up for Remote Energy Applications

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

Tuesday February 10, 8:00 am ET

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced that the Company has developed an internet-based monitoring solution to communicate with OutBack Power Systems’ power electronics products. ICP Solar’s patented Sunsei® GreenMeter™ monitor can now communicate with the OutBack MATE, a display unit for Outback’s battery based renewable energy systems. Using this system, both owners and installers can elect to receive email alerts about their renewable energy systems and review critical system parameters almost anywhere.

“The ability to offer a remote reassurance that your renewable energy investment is producing power and performing reliably is of great value to both off-grid and on-grid customers,” said Sass Peress, CEO. “Once again, ICP Solar is providing practical and innovative applications that can be utilized by individuals or businesses alike to lower long-term energy costs.”

“Remote communications will save industrial customers thousands of dollars in routine site visits by replacing truck rolls and helicopter rides with a click of the mouse,” added Bryan Thomas, Product Manager, Outback Power Systems. “We look forward to a long and beneficial relationship with ICP Solar and the GreenMeter™ going forward.”

About OutBack Power Systems

OutBack Power Systems manufactures innovative power conversion solutions that leverage solar, wind and hydro resources to provide reliable electric power for the renewable energy, mobile and backup power markets. OutBack Power’s engineers have decades of power conversion electronics design and equipment installation experience and share a passion for leading the industry into a new era of performance, ease of use, durability, and standardization. OutBack Power is a privately held corporation located in Arlington, WA USA with a European sales office in Barcelona, Spain. For more information, please visit http://www.outbackpower.com.

February 2, 2009

ICP Solar and Integrated Metering Systems Offer Revenue Grade Solar Monitoring

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

Monday February 2, 8:00 am ET

Provides Immediate Access to Huge Grid Market

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced that the Company has reached an agreement with Integrated Metering Systems (IMS) of Largo, Florida to market the GreenMeter™ in North America in conjunction with IMS technology – providing an accurate, reliable means for net metering. IMS has been manufacturing electric submeters since 1989 for a variety of applications.

Through this agreement, ICP Solar’s GreenMeter™ will be able to integrate with IMS kWh Meters and allow for a more precise reading of electricity consumption and production – meeting or exceeding requirements for revenue grade monitoring or solar subsidy programs worldwide. Sales of the combined system are expected to begin later this quarter.

“Having the ability to offer a revenue grade solution to the global market that is accurate and reliable has been a key goal for ICP Solar,” said Sass Peress, CEO. “The GreenMeter™ will now be able to monitor energy usage data with greater precision and instantaneously provide this information to the web – where clients can access the analysis anywhere in the world.”

A demonstration of this unique application can be viewed at http://www.icpca.solarvu.net under the “Live” tab.

“We are very pleased to be working with ICP Solar to increase the applications for our metering products and introduce our systems to the solar marketplace,” said Charlie Wilde, President of IMS. “Given the increasing demand for alternative energy solutions and net metering installations, we see this as a natural extension of our product lines with one of the leaders in the field.”

About Integrated Metering Systems, Inc.

Integrated Metering Systems (IMS) has been manufacturing single phase, 2-phase and 3-phase electric submeters since 1989 for apartment buildings, shopping centers, hospitals, universities, office buildings, industrial applications, marinas, and campgrounds, among other applications. The company has grown to become a national manufacturer and distributor. Additional information may be found at http://www.imsmeters.com.

December 16, 2008

ICP Solar Announces Fiscal 2009 Third Quarter Financial Results

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

Tuesday December 16, 8:00 am ET

Company Positioned for Growth & Continues on Track to Profitability

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced financial results for its third quarter and nine months ended October 31, 2008.

Highlights for the Quarter

* Sales were $1.2 million for the fiscal third quarter as compared with $1.6 million for the third quarter of fiscal 2008; on an organic basis, excluding discontinued operations, revenue fell 14% year-over-year, reflecting working capital constraints that impacted the Company’s ability to ship during the quarter. Given current inventory levels and production plans, the Company is very well positioned to deliver on new programs and is in the process of securing additional capital for growth expected in 2009
* The Company reduced selling, general, and administrative expenses (SG&A) by nearly 40% versus the prior-year period
* Adjusted EBITDA was $(1.2) million for the quarter, a slight improvement over the quarter ended October 31, 2007
* The Company entered into an LOI for the acquisition of Ibersolar Energía, S.A., a leading European manufacturer and supplier of solar systems, on October 21, 2008. Effective December 15, 2008, the Company and Ibersolar mutually agreed to let the LOI expire but continue to discuss strategic options that would prove beneficial to both parties
* ICP Solar recently announced a series of new business wins, including the sale of off-grid modules in Africa; the first shipments of its proprietary GreenMeter products; an agreement for the sale of Sunsei® solar chargers in Europe through the large retailer Leroy Merlin; additional sales with both Wal-Mart and Costco; and the first sales of Sunsei® vents that will be installed directly at the factory of an RV producer

“ICP Solar took aggressive steps this quarter to position the company for rapid expansion and improved operating results in 2009,” said Sass Peress, CEO. “While sales fell slightly versus last year excluding our discontinued U.K. operations, reflecting some working capital constraints, the Company has now secured over $5 million worth of new business for next year – a record this early in the season and one that clearly indicates the accelerating traction of our core Sunsei® and Coleman® products. As recently announced, we also started shipping our innovative GreenMeters® across North America, which are now performing in the field with very promising results.

(more…)

December 1, 2008

ICP Solar Wins Business in Africa

Filed under: ICPR — Tags: , , — Jason @ 9:06 am

Monday December 1, 9:06 am ET

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced that the Company has signed an agreement worth $500,000 for off-grid modules in Africa. Deliveries are expected to begin in January, 2009.

“We are very pleased to announce our first sales to Africa in years, where demand for solar systems has climbed rapidly in the past twelve months,” said Sass Peress, Chairman and CEO of ICP Solar. “We will be providing our proprietary modules for remote power generation in areas where, given the lack of reliable electricity but continuous availability of sunshine, we will make it possible for thousands of individuals to use portable power products and operate critically-needed equipment. These sales represent our re-entry into a market that will become a key part of our expansion in 2009, leveraging our innovative line of thin-film applications to harness the power of the sun.

“Combined with other announcements during the past two months, ICP Solar has already secured over $5 million of business for the upcoming fiscal year – a record for the company at this stage of the contract confirmation season. Considering that we will also be launching several new products in the coming quarters, we remain very well positioned for 2009.”

November 18, 2008

ICP Solar Targets Europe for Sales Expansion in 2009

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

Tuesday November 18, 8:00 am ET

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced that Leroy Merlin, one of Europe’s largest retailers of home improvement merchandise, will stock Sunsei® solar chargers and related products in 2009. It is estimated that Leroy Merlin, which carries items ranging from decorations and accessories to construction materials, will purchase approximately $0.4 million of ICP Solar’s chargers next year.

“We are extremely pleased to announce that Leroy Merlin will sell our Sunsei® products in its stores next year,” said Sass Peress, Chairman and CEO of ICP Solar. “As one of the leading home-improvement chains on the continent, Leroy Merlin will provide increased exposure to our technology-leading products and a new channel to accelerate our market penetration overseas. We continue to build relationships with a variety of strong, global partners who understand the value of our offerings given consumers’ increasing reliance on solar power for their energy needs. Our expansion in Europe reflects a recognition not only of our technology but also the quality of our products – as Sunsei® rapidly builds a reputation around the world for providing reliable power in all types of rugged, outdoor applications.”

November 17, 2008

ICP Solar Reports First GreenMeter Shipments

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

New Sunsei(R) Products to Fuel Growth in 2009

Monday November 17, 2008, 8:00 am EST

MONTREAL–(BUSINESS WIRE)–ICP Solar Technologies Inc. (ICPR.OB), a developer, manufacturer and marketer of proprietary solar panels and products, today announced that it will begin shipping its new, patented, Sunsei® GreenMeter this month. The initial customer, an education products company, will be installing the GreenMeter in 30 high schools across North America – providing scientific training stations for labs within a curriculum that focuses on renewable energy. The Sunsei® GreenMeter hybrid energy monitor will be the centerpiece of these stations, and it will interface with solar panels, wind turbines, and a battery system that monitors energy output. Students can measure electrical power production from both solar and wind sources, analyzing the resulting energy vis-à-vis existing weather conditions.

“Our Sunsei® GreenMeter is now ready for shipment, and we are very excited by the opportunity these products represent for growth in 2009,” said Sass Peress, Chairman and CEO of ICP Solar. “They are designed to be extremely consumer-friendly and can easily connect with any type of renewable energy source to analyze electrical output. Our GreenMeter collects data from a variety of energy devices and links directly with the internet – making it perfect for both at-home and remote locations, where it has traditionally been cumbersome or problematic to analyze energy production.

“These first units will allow students to learn about two of today’s leading forms of alternative energy – wind and solar power – along with energy conversion and electricity generation. Assisting young minds appreciate how clean energy fits into the global economic environment is compelling, and we anticipate expanding sales within the education field. Beyond this market, we expect the GreenMeter to post rapid growth worldwide next year as it uniquely provides consumers and commercial enterprises with an easy means to monitor their ever-increasing alternative energy installations.”

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