ECOtality announced this morning that it has entered a definitive agreement to purchase the assets of Innergy Power Corporation. Innergy Power is focused on designing and manufacturing thin, sealed rechargabele lead batteries and high quality flat-panel multi-crystalline solar modules. The acquisition is expected to close in October of this year.
Jonathan Read, President and CEO of ECOtality, stated, “The acquisition of Innergy helps ECOtality grow financially, technologically and strategically. Innergy provides us a profitable expansion platform for solar and energy storage solutions, as well as a low-cost manufacturing facility in Mexico. From the outset, ECOtality has sought to become a diversified renewable energy company committed to green, electro-centric technologies by expanding our portfolio with synergistic companies that complement our core technology, Hydrality(TM). The acquisition of Innergy is a strong step to fulfilling these objectives.”
Innergy Power’s fiberglass reinforced panel solar modules are designed to meet a variety of applications where quality, durability, and light weight are important. Some of the applications include logistics tracking, asset management systems, off-grid lighting, mobile communications, mobile computing, recreational vehicles, signaling devices and surveillance cameras.
He concluded, “Our lives are increasingly dependent on electricity. Yet the only practical means to address the world’s growing appetite is by developing and delivering clean technologies that allow for the conversion of renewable energy sources to electricity. Innergy Power’s products enable users to create, store and use “clean” electricity, anywhere while on-the-go.”
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