Premier Power – Leading Solar Integrator – Featured on Fox Business Network Today at 6:50am EST
Premier Power Renewable Energy Inc. (OTCBB:PPRW), a leading solar integrator with operations in US and Europe, announced that President Dean Marks will be interviewed in a feature today on Fox Business Network. Marks will discuss Premier’s recently completed reverse merger transaction resulting in the company becoming publicly traded on the over-the-counter bulletin board, its demonstrated history of strong growth and profitability, and the company’s positive outlook for its business in the downstream solar segment.
Premier Power is amongst the largest and fastest growing solar installers in the nation. It achieved sales of $16.7 million in 2007 and has contracted $48 million in sales for 2008, representing 187% year-over-year growth. It has been profitable since 2006, and continues to experience dramatic growth and record sales in the US and Europe.
The Company’s engineering team has designed a diverse range of portfolio of Photovoltaic (PV) solar energy systems for commercial customers including KB Home, Pacific Gas & Electric (PG&E), Princeton University, Shafer Vineyards, Silverado Wineries, AT&T and Jay Leno. Recently, it installed a 1.2MW ground mount system (in only six weeks) for the Sacramento Municipal Utility District using first solar thin film product (FSLR).
Premier Power’s proprietary and non-proprietary systems combine with solar modules from GE, Sharp, Schuco and SunPower (NASDAQ:SPWR) to offer clients the highest efficiencies with application-specific solutions. Its systems are designed to meet the wide variety of needs found in today’s expanding market.
Premier Power services the U.S. West Coast through offices in Northern California and Southern California, and the East Coast though its New Jersey office. Premier Power also has offices in Pamplona and Madrid, Spain and is planning expansion locations in Italy and France.
Dean R. Marks, President and CEO of Premier Power, said: “Today is an outstanding milestone for the Premier Power family. We are having a record year in terms across all aspects of our business and expect to executed on several opportunities in the US and European markets that demonstrate the value of our teams’ engineering capabilities and depth of solar design and installation experience. We are looking forward to even a bigger 2009.”
In connection with the merger, the Company closed a $7 million private placement led by Vision Capital Master Investment Fund. Adam Benowitz of Vision Capital said: “Premier Power’s proven track record domestically and in Europe, along with their diversification across all market segments has made them a natural market leader and positions them for outstanding future growth making them a great investment opportunity.” GT Securities was the placement agent for the transaction and Genesis Capital Advisors the financial advisor.
About Premier Power
Premier Power Renewable Energy, Inc. (OTCBB:PPRW) is a leading global provider of small to large-scale solar power systems, delivering unmatched experience to commercial, agricultural and residential customers throughout North America and Spain. Since 1986, Premier Power’s industry leading products, technologies and services have enabled its customers to maximize clean energy output along with project savings. Today, Premier Power designs and deploys the most innovative solar electric systems through market-leading innovation and exceptional customer service. Premier Power is headquartered in El Dorado Hills, CA and trades on the OTC Bulletin Board under the symbol PPRW.OB. Additional information is available at the Company’s website at www.premierpower.com.
FORWARD-LOOKING STATEMENTS
This release contains certain “forward-looking statements” relating to the business of Premier Power Renewable Energy, Inc. (“Premier”), which can be identified by the use of forward-looking terminology such as “believes,”"expects” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to reliance on a limited number of customers, market demand, cyclical nature of our markets, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on Premier’s current expectations and beliefs concerning future developments and their potential effects on the company. There can be no assurance that future developments affecting Premier will be those anticipated by Premier. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.