ICP Solar Receives Initial €540K Euros Power Generation Order in Spain

ICP Solar Technologies Inc. (OTCBB: ICPR, FRANKFURT: K1U.F), a developer, manufacturer and marketer of solar cells and products, today announced that it has entered into an agreement to sell IEC-approved modules to a power generation partner in Spain.

MONTREAL-ICP Solar Technologies Inc. (OTCBB: ICPR, FRANKFURT: K1U.F), a developer, manufacturer and marketer of solar cells and products, today announced that it has entered into an agreement to sell IEC-approved modules to a power generation partner in Spain.


The initial part of the contract calls for the delivery of €540,000 Euros in solar modules with conditional orders amounting to €13 million Euros pending over the course of the next year.

"This first order is a validation that our customer-centric approach and 19 plus years of solar panel application experience are paying dividends," said Sass Peress, ICP CEO and Chairman. "Spain is now the third largest solar market in the world and the Spanish government continues to promote investment in and expansion of both photovoltaic and solar thermal power. Its stated goal of twenty percent renewable energy by 2020 creates a great opportunity for us to expand our brand beyond consumer and into the power generation, OEM and industrial segments."

About ICP Solar Technologies, Inc.

ICP Solar is a developer, manufacturer and marketer of solar cells and solar cell based products and building materials. Through the application of next-generation technologies and use of proprietary intellectual design the Company aims to be the industry's innovation leader. For the past 19 years, ICP Solar has led the consumer market through innovation and has now begun to apply that same philosophy to the OEM, rooftop and power generation segments of the solar industry. ICP Solar's management has over 50 years of experience in the solar energy sector. The company's headquarters are located in Montreal, Canada, and additional locations in the USA, Spain, Ireland and France.

Corporate information may be found at www.icpsolar.com

The forward-looking statements herein include, but are not limited to, the expected expansion of our solar solutions into Europe Middle East, Asia and Africa. Our actual results may differ materially from those implied in these forward-looking statements as a result of many factors, including, but not limited to, overall industry environment, customer acceptance of our products, delay in the introduction of new products, further approvals of regulatory authorities, adverse court rulings, production and/or quality control problems, the denial, suspension or revocation of permits or licenses by regulatory or governmental authorities, termination or non-renewal of customer contracts, competitive pressures and general economic conditions, and our financial condition. These and other risks and uncertainties are described in more detail in our most recent SB-2 filing with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by applicable laws, and you are urged to review and consider disclosures that we make in the reports that we file with the Securities and Exchange Commission that discuss other factors germane to our business.

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