SOURCE: IDS Industries, Inc.
LAKE ELSINORE, CA--(Marketwired - Dec 18, 2013) - IDS Industries, Inc. (OTCQB: IDST) announced today the completion and signing of a contract with its current CEO Scott Plantinga for the next 2 years, as disclosed in the Company's recently filed 10-K report. The Company said it was very pleased with the leadership Mr. Plantinga has shown over the past few months and is very confident in his ability to execute the Company's business plan for 2014.
The Company also announced that in a separate event that Mr. Plantinga has purchased an additional 1.3 million shares of IDST common stock, as disclosed in a recent Form 4 filing.
"The perfect storm is building for the Company and our product line with U.S. solar installs up 45% year-over-year and California state regulation leading the country with a self-imposed 1.3 Gigawatt energy storage requirement by 2016," stated Mr. Plantinga. "Such acceleration in energy storage demand represents a growing installed-base for behind-the-meter storage solutions and an expanded market for our solar-tailored control electronics. I greatly look forward to building IDS Industries into a leader delivering battery management innovation to the residential and commercial energy storage fields."
About IDS Industries, Inc.
IDS Industries, Inc. is a company in the fields of Advanced Energy Storage and Portable Power Generation Systems.
The Company's GIIRS-rated energy storage products deliver clean stationary and portable electrical energy, targeting a diverse range of residential, commercial, and off-grid markets. The Company's proprietary integrated battery management and charge controller system optimizes advanced lithium chemistry functions improving battery performance and extending battery life.
Forward-looking & Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.