ICP Solar Provides Business Update

ICP Solar Technologies Inc. announced that the company has taken further measures to cut costs and decrease overhead even as funds start to flow from the recently-announced financing transaction with its lead investors. The company has reduced monthly SG&A expenses by more than 50 percent compared with 2008.

“ICP Solar continues to take the necessary steps to improve its business model ahead of the launch of our Energizer product line,” said Sass Peress, CEO. “In addition, our investors have already begun funding strategic marketing initiatives including the development of our online retail store energizersolar.com, which is expected to go live and begin generating revenue during December. The website will feature ICP Solar’s full Energizer solar product line and supporting content to make shopping easy and hassle-free.”

“We expect this new site to become a hub of activity for those people interested in learning more about solar energy and purchasing solar products,” added Howard Firestone, director of online marketing for Energizersolar.com. “We are on track to meet all customer requirements and are excited about the months to come.”