Automotive industry integrates a solar solution to minimize labor costs
MONTREAL, July 21 ,2008 -ICP Solar Technologies Inc. (OTCBB:ICPR.OB) (FRANKFURT:K1U), a developer, manufacturer and marketer of solar panels and products, today announced that they have entered into a sales contract with Nissan in Europe and North America for OEM solar charger. A discharged battery is one of the most common problems facing the automotive industry with cars sitting in parking lots for long period of time in cold or hot conditions. The ICP Solar OEM solar charger will help reduce the related costs and will avoid strong 12 V battery drain using the power of the sun.
"ICP Solar Technologies wants to be a major player in the automotive industry which is looking for a more cost effective green solution to the dead battery problem. We have proved in the past with other car manufacturers that this OEM solar charger placed on the dashboard inside the car would be a great cost saving tool for 12V battery in the entire automotive industry" said Sass Peress, CEO ICP Solar.
"After a very positive test from Nissan Europe with our new OEM Solar charger, equipped with cutting edge suction cups including OBD connector, we are extremely happy that Nissan North America has decided to extend our partnership" said Tom Clark, Vice President Sales Americas "With the new generation of cars including more and more electronics embedded such as GPS navigation systems, DVD player, cruise control, hand free cell phones, voice activation, the battery drain on new cars will become more of an issue for major automotive manufacturers and car dealers" added Clark.
About ICP Solar Technologies, Inc:
ICP Solar is a developer, manufacturer and marketer of solar panels 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. ICP Solar is the North American licensee of the Coleman® brand in the solar charger category. The company's headquarters are located in Montreal, Canada, with additional locations in the USA, Ireland and France.
Corporate information may be found at www.icpsolar.com
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. 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.
Stuart T. Smith
ICP Solar Technologies
Laurent Lafite, 514-270-5770