Montreal, Canada, May 08, 2008 – ICP Solar Technologies Inc. (OTCBB: ICPR, FRANKFURT: K1U.F), a developer, manufacturer and marketer of solar panels and products, announced today that Sheldon Reinhart has been appointed Chief Financial Officer and Chief Operating Officer.
“Sheldon brings us a superb combination of skills, talent and a deep understanding of business fundamentals, operations and manufacturing,” said Sass Peress, ICP Solar Chairman and Chief Executive Officer "We are glad to have him aboard and are confident that he will quickly become a key member of our team as he helps to strengthen our operations and oversees our financial affairs."
Mr. Reinhart has over 20 years of experience in both finance and technology. Most recently, he was the Chief Financial Officer for Strategy First Inc., a leading computer games publisher. Prior to that, he was the General Manager of Walpert Industries Ltd., and VP Finance for Paradox Security Systems. Mr. Reinhart began his career at RSM Richter, an independent auditing firm.
Mr. Reinhart received his Bachelor’s Degree and GDPA from McGill University and is a Chartered Accountant (CA).
He replaces Leon Assayag who left the company May 2, 2008 to pursue other interests.
ICP Solar is a developer, manufacturer and marketer of solar panels, solar cell based products, solar monitoring software and solar 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 19 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. ICP Solar's management has over 50 years of experience in the renewable energy sector. ICP Solar markets its products under its Sunsei brand of solar products and is the North American licensee of the Coleman(R) brand in the solar charger category. ICP Solar is also helping the environment by offering these solar technologies and green solutions to the renewable energy sector. The company's headquarters are located in Montreal, Canada, with an R&D center in St. John's Canada and additional locations in the USA, Ireland, France and the UK.
Corporate information may be found at www.icpsolar.com
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 31,2008, as filed on EDGAR at www.sec.gov. 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.
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