SolarOne Solutions, Inc. Announces Acquisition of Inovus Solar, Inc.
Needham, MA - SolarOne Solutions, Needham, MA USA, a provider of professional solar area lighting solutions to customers worldwide, today announces its acquisition of Inovus Solar, Inc, a solar lighting company with complementary products, markets and technologies.
With this transaction, SolarOne Solutions brings the Boise-based firm’s technology, project pipeline, brand and other assets into its fold. All Inovus Solar personnel immediately become part of SolarOne Solutions and will continue to support its customer base worldwide.
“One would be hard pressed to find two more complementary companies,” said Moneer Azzam, SolarOne CEO. “The Inovus architecturally appealing wrapped PV pole with embedded LiPO energy storage fits perfectly with SolarOne’s conventional line of
professional lighting systems. But what comes next from the melding of these two dedicated and talented teams is what I am most excited about. No other solar lighting company has this depth. It will allow us to accelerate our worldwide growth initiatives.”
Inovus Solar CEO, Doug Stewart, who will remain as a Board member and strategic advisor to the company said: “The combination of products, technical and marketing expertise and geographic footprint that results from this transaction is transformative for both companies and sets the stage to become the largest solar lighting business in the world.”
For more information on SolarOne Solutions, visit www.solarone.net.
About SolarOne Solutions, Inc.
SolarOne Solutions, Inc. designs, manufactures and sells commercial-scale, solar-powered lighting and light emitting diode (“LED”) technology for use in a variety of outdoor applications such as parking lots, streets, pathways, pedestrian areas, landscapes, outdoor signage and shelters. SolarOne is a recognized leader in the “grid-independent” outdoor area lighting segment and was the first company to deploy successful commercial-grade photovoltaic/LED large-area lighting systems.
About Inovus Solar, Inc.
Inovus Solar is a leader in commercial solar lighting with installations worldwide. The company has developed successful commercial products utilizing flexible solar collectors and has been the recipient of recognition and design awards for these products. The company, based in Boise, Idaho, is backed by private equity investment.