ECOtality Acquires Innergy Power Corporation

ECOtality Incorporated, a company that develops and commercializes eco-friendly technologies, announced plans to purchase the assets of Innergy Power Corporation, designer and manufacturer of thin sealed rechargeable lead batteries and high quality flat-panel multi-crystalline solar modules. ECOtality expects the acquisition to close in October 2007.

“With this acquisition we are acquiring a platform for both the solar and energy storage industries,” said ECOtality President and CEO Jonathan Read. “We see this as an opportunity to reach into both of these markets with new manufacturing capabilities.”

As the only North American manufacturer of both renewable energy solar modules and rechargeable batteries, Innergy Power’s solar photovoltaic (PV) product line addresses the burgeoning worldwide demand for solar energy products and off-grid power.

“This is only the beginning of our efforts to bring in more synergistic technologies and companies to our portfolio. These are profitable companies we are acquiring — and we have more on the horizon — which will eventually make us one of the larger players in the green energy sector,” said Read.

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