ICP Solar Acquires WES Power

March 13, 2008 by Jeff Shepard

ICP Solar Technologies Inc. announced that it has completed the acquisition of privately held WES Power Technology Inc., described as a leader in renewable power performance management systems.

"We believe that the acquisition of Wes Power and its GreenMeter™ technology is strategically important for us," said ICP Solar CEO and Chairman, Sass Peress. "When combined with our patented rooftop solar tile technology, the Sunsei® Industrial line will now be in a position to provide our current customers, as well as new power generation channel customers, with a real-time hybrid communications monitor/controller for their systems. This will give our company a competitive advantage in the marketplace and position us to become a leader in these fast growing renewable power categories."

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

"ICP Solar’s significant operational and manufacturing experience combined with our product development team will enhance our ability to serve our customers in the security and telecom segments and expand into the residential markets, stated Gerry Heffernan, CEO WES Power Technology. "We look forward to working together and expanding our distribution options and leveraging the ICP Solar sales team particularly in the rapidly growing California market."

Financial terms of the transaction were not released.