ICP Solar and Ibersolar Announce Strategic Alliance to Expand Distribution Reach

Agreement Encompasses European Distribution, Co-Development and Customer Service

ICP Solar and Ibersolar Announce Strategic Alliance to Expand Distribution Reach

Agreement Encompasses European Distribution, Co-Development and Customer Service

MONTREAL--(BUSINESS WIRE)--ICP Solar Technologies Inc. (OTCBB: ICPR, FRANKFURT: K1U.F), a developer, manufacturer and marketer of solar panels and products, today announced it has entered into a strategic alliance with Ibersolar Energía, S.A. one of the leading European distributors and suppliers of solar photovoltaic systems, solar thermal systems and absorption units.

Under the agreement, Ibersolar will distribute ICP Solar's range of Sunsei products via its sales channels across Europe to its hundreds of solar products dealers. Ibersolar will provide customer, warranty and repair support for all ICP consumers in Europe, as well as engineering and certification services for ICP Solar's patented thin film rooftile and metering products.

"We are very excited to be working with Ibersolar," said ICP Solar CEO and Chairman, Sass Peress. "They are the best conceivable strategic partner to support our efforts to expand in Europe. Ibersolar is a leader in the solar product business with unparalleled distribution capabilities and experience. Additionally, their team of engineers will help ICP Solar tune its offerings to European requirements. This relationship is a perfect example of our strategy of broadening our sales and engineering reach through alliances.

Juan Camilo Echeverri, President and CEO, Ibersolar Energia, said "We are happy to be a part of ICP Solar's growth plans. Our understanding of the European market, strong brand presence, distribution reach and experience developing and marketing solar products to the European customer should be a perfect match for ICP's growth strategy. I am confident that the alliance will be mutually beneficial for both the companies and the future will see us growing and further strengthening our relationship."

About Ibersolar

Since its foundation in 1999, Ibersolar has focused its business activity on the development, production and distribution of solar thermal, solar photovoltaic and absorption cooling solutions. The central logistics area in Spain is certified ISO 9001 and ISO 14001.

The Ibersolar Group currently has offices in Spain, Italy, Slovenia, Portugal and the US with net sales of around €120M.

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 segment of the solar industry .ICP Solar's management has over 50 years of experience in the renewable energy sector. The company's headquarters are located in Montreal, Canada, with 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.

ICP Solar Technologies Inc.
Laurent Lafite, 514-270-5770 Ext. 120
Lippert/Heilshorn & Associates
Jody Burfening/Elric Martinez, 212-838-3777

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