Dec. 16, 2009 (Business Wire) -- ICP Solar Technologies Inc. (OTCBB:ICPR) (FWB:K1U), a developer and marketer of innovative, proprietary solar panels and products, announces that as part of its 2010 growth strategy, ICP Solar plans to enter the lucrative solar energy utility sector which is gaining significant momentum in North America and abroad. ICP announced today that as a first step in its new strategic direction, it has entered into a binding LOI (“LOI”) with EPOD Erneuebare Energien, (“EEE”) to acquire a 9% stake in its wholly owned subsidiary, Volkersleier GmbH & Co-KG, a 730kw producing photovoltaic solar facility, located in Volkersleier, Germany, with an option for ICP to buy the remaining stake in Volkersleier; additional terms are outlined in a Form 8K to be filed with the SEC.
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