CIGS technology key to creating lighter and more powerful Sunsei® portable electronics solar chargers
Montreal, Canada, April 1, 2008 - ICP Solar Technologies Inc. (OTCBB: ICPR, FRANKFURT: K1U.F), a developer, manufacturer and marketer of solar cells and products, announced today that it has signed a cooperation development agreement with Ascent Solar Technologies, Inc. (NASDAQ:ASTI). The agreement will focus on the development of mobile solar power products utilizing Ascent's high efficiency CIGS solar technology for distribution throughout ICP Solar's international distribution network.
"We are thrilled to partner with Ascent," said ICP Solar CEO and Chairman Sass Peress. "At ICP Solar our mission is to be at the technology forefront when it comes to solar consumer products and portability. Ascent's CIGS thin-film technology is ideally suited for those applications. Placing the Photovoltaic (PV) material and modules on a wide variety of substrate materials allows for manufacturing of extremely lightweight and flexible solar panels, which will expand our new product development opportunities immeasurably. We look forward to a long and mutually beneficial partnership."
Ascent Solar will initially supply ICP Solar with product from its existing 1.5 MW production line during 2008 and 2009 in order for ICP Solar to develop, test, and integrate the Ascent Solar materials into ICP Solar products and to increase deliveries of solar modules to ICP Solar after Ascent's planned expansion of production capacity.
"ICP Solar's expertise in the portable consumer solar products industry and its international distribution network make ICP Solar an excellent partner," said Matthew Foster, Ascent Solar's President and CEO. "We believe that our CIGS thin-film technology is well suited for use in portable solar power and other electronic integrated PV products."
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
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules and is located in Littleton, Colorado. Please visit our website for additional information at www.ascentsolar.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