Message #134 From:
FastFun Date: September 27, 2007 11:31:56 PM
American Clean Power, Inc. Receives Investment from SOLON AG
DENVILLE, N.J.--(BUSINESS WIRE)--American Clean Power, Inc. (ACPI) announced today that SOLON AG had purchased an undisclosed amount of Convertible Preferred stock in the company. ACPI is the parent company of The Solar Center (TSC), a rapidly growing solar energy integrator headquartered in New Jersey.
Dennis Wilson, the CEO of TSC said, “The solar industry is growing rapidly in the US and the market is expected to be enormous. Nearly thirty states now have Renewable Portfolio Standards (RPS) that require an increasing amount of electricity to come from renewable generation. New Jersey has been leading the way in the Eastern half of the US with aggressive solar incentive programs designed to foster a solar industry that can deliver New Jersey’s goal of at least 1500 MW of solar electric generation by 2020.”
TSC has grown rapidly since its formation in early 2005 to 50 employees, and has become one of the leading solar energy companies on the East Coast with over 450 solar projects completed or under contract. The scale of TSC’s solar electric projects is increasing rapidly, and large projects require a reliable supply of solar modules. ACPI evaluated the leading solar companies in Europe and pursued SOLON AG to develop a strategic relationship for product supply and support for the development of large scale solar projects.
About American Clean Power: ACPI, through its subsidiary, The Solar Center offers its customers solar electric and solar thermal generation systems to help meet their energy needs. TSC’s founder, Dennis Wilson, has been developing solar thermal, cogeneration, energy efficiency and solar electric projects since the late 1970s. www.thesolarcenter.com
About SOLON AG: SOLON AG is one of the largest manufacturers of solar modules in Europe and a leading supplier of photovoltaic systems for large-scale solar power stations. The SOLON Group has subsidiaries in Germany, Austria, Italy, Switzerland and the USA and employs more than 600 people. The core business of SOLON is the manufacture of solar modules in various power output categories and of complete photovoltaic systems, known as SOLON Movers, for use in the construction of solar power stations. www.solonag.com
