SOURCE: ICP Solar Technologies Inc.

February 08, 2010 10:05 ET

Peterborough Utilities to Construct 10 MW Solar Farm

Opportunity for ICP Solar to Build One of the First Utility Owned Solar Projects in Ontario

MONTREAL--(Marketwire - February 8, 2010) -  ICP Solar Technologies Inc. (OTCBB: ICPR) (FRANKFURT: K1U), announced today that EPOD Solar Inc., a British Columbia company ("EPOD Solar"), has entered into an agreement with Peterborough Utilities Inc.(PUI) to construct a 10 MW solar farm on Lily Lake Road in Peterborough, Ontario worth in excess of $30 million. Construction is expected to begin within one month. Subsequent to the closing of the previously announced transaction between ICP Solar and EPOD Solar, the PUI agreement shall be assigned to ICP Solar.

"ICP Solar is very excited about the potential opportunity to be a partner in this state-of-the-art initiative to build a facility employing the latest in thin-film photovoltaic solar technology," said Mike Matvieshen Chairman and CEO of ICP Solar. 

About ICP Solar Technologies:

ICP Solar is a developer and marketer of solar panels, solar monitoring and power management solutions. Through the application of its own intellectual property and next-generation technologies, the Company aims to be the solar industry's innovation leader. For the past 20 years, ICP Solar has been a lead innovator in the consumer solar market and has now begun to apply that same innovation philosophy to the OEM, rooftop and power generation segment of the solar industry. Management at ICP Solar has over 50 years of experience in the renewable energy sector. ICP Solar markets its products under its sunsei® brand and in the solar charger category, is the global licensee of the Energizer® brand. The company's headquarters are located in Montreal, Canada with additional locations in the United States, Ireland, and France. Additional information may be found at and

About Peterborough Utilities Inc.

Founded in 1914, the Peterborough Utilities Commission (PUC) operated in Peterborough for more than 85 years as a not-for-profit organization. Restructured in 2000, the PUC became part of the Peterborough Utilities Group with a number of new companies established within the group including Peterborough Utilities Inc. which manages electrical generation and retail services. Today, Peterborough Utilities Inc. (PUI) operates several Electrical Generation facilities, provides Meter Service Provider (MSP) and Meter Data Management Agency (MDMA) services and manages Rental Services including water heater rentals and sentinel lighting rentals

This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "expects," "plans," "estimates," "intends," "believes," "could," "might," "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of ICP Solar Technologies Inc. to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties which are described under the caption "Note Regarding Forward-looking Statements" and "Key Information - Risk Factors" and elsewhere in ICP Solar Technologies Inc.'s Annual Report for the fiscal year ended January 31,2009, as filed on EDGAR at The risk factors identified in ICP Solar Technologies Inc. Annual Report are not intended to represent a complete list of factors that could affect ICP Solar Technologies Inc. Accordingly; readers should not place undue reliance on forward-looking statements. ICP Solar Technologies Inc. does not assume any obligation to update the forward-looking information contained in this press release.

Contact Information


    ICP Solar Technologies
    Mike Matvieshen
    Chairman & CEO

    Peterborough Utilities Inc.(PUI)
    Larry Doran
    President & CEO
    705-748-9301 ext 1280