XZERES Corp (OTC: XPWR) Acquires CalcoGreen LLC and Expands Team with Top Industry Talent
September 4, 2013 (Waitsfield, VT): CalcoGreen LLC, headquartered in Waitsfield, VT is proud to announce it has been acquired by XZERES Corporation, Wilsonville, OR (OTC: XPWR) a clean energy technology manufacturer specializing in power management, power efficiency, residential and commercial wind turbine systems.
CalcoGreen, LLC was founded by renewable energy industry veteran Chris Lamonia in the winter of 2010. CalcoGreen’s focus in financing energy efficiency and renewable energy projects along with its extensive relationships with energy efficiency and renewable energy integrators positions XZERES Corporation for immediate market exposure in local and regional markets across the US and Canada. “XZERES is pleased to incorporate CalcoGreen and Chris into the organization, which adds strong sales, business development, and financing expertise to our existing efforts” said Frank Greco, CEO of XZERES Corp.
With this acquisition, Lamonia has accepted a full time position as the Vice President of North American Business Development and Special Projects for both the wind and power efficiency product lines. XZERES Corporation recently acquired the assets of Southwest Windpower, manufacturer of the globally recognized Skystream wind turbine (2.4kW). “This is a once in a lifetime opportunity for me not only because the Skystream has been deployed into over 8,000 different applications, which represents greater market share than any other 2.4 kW wind turbine in the history of small wind globally, but the power factor correction equipment that XZERES currently offers holds endless possibilities in the energy efficiency and demand reduction market” said Chris Lamonia, president and Founder of CalcoGreen. “The new line of power efficiency equipment XZERES is now manufacturing brings diversification to XZERES which limits its risk in the ever changing energy efficiency and renewable energy markets.”
XZERES understands the need to bring innovative new financing options to power efficiency and wind transactions. CalcoGreen’s finance contacts and industry knowledge brings additional support to this focus for the company. “CalcoGreen provides an excellent fit at the right time as XZERES moves toward further expanding its efforts to provide unique funding solutions and partnerships with customers around the world” said XZERES CFO, Steve Shum.
This acquisition will also bring nationwide regional office locations with its office in Waitsfield VT, a new office in Stowe, VT and current headquarters in Wilsonville, OR.
Forward-Looking Statements and Safe Harbor Statement:
The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those identified under “Risk Factors” in the Company’s filings made with the Securities Exchange Commission. Actual results may differ materially from those contemplated by these forward-looking statements and the Company does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this press release.