Bridgeport, PA (PRWEB) March 26, 2014
First Power and Light, Inc.(VOLT) announced today that it is in the process of changing its name to VOLT Solar Systems, Inc, which should be effective April 11, 2014. As part of the name change process, the Company is expanding business operations to focus on wholesale solar panel distribution across the U.S. marketplace and strategic acquisitions of wholesale solar panel distributors. With the U.S. solar market valued at $13.7 Billion in 2013, the Company believes that focusing on supplying solar panels to the record number of installations being developed will generate strong revenues.
VOLT anticipates selling a wide range of panel brands, including SunPower, SolarWorld, UE Solar, Trina, Yingli Solar and Suntech. The Company’s goal is to provide customers across the United States and Canada access to competitively priced solar panels in volume amounts. The Company expects to obtain discounted solar panels from numerous sources, including excess project panel inventory, panel brokers, under-funded solar projects and directly from manufacturers.
As part of this strategy, VOLT is currently developing a streamlined shipping and logistics infrastructure capable of handling multi-megawatt monthly orders. This process will entail establishing distribution hubs across the U.S. and expanding its sales force. With the national office located in Bridgeport, PA, VOLT intends to open Regional Sales and Distribution Offices in Houston, TX, Phoenix, AZ and Los Angeles, CA. With the U.S. solar market expected to grow over 20% in 2014, VOLT anticipates its operation will generate strong solar panel sales.
Additionally, VOLT is currently seeking out opportunities to conduct strategic acquisition and partnership agreements with wholesale panel distributors and manufacturers. VOLT believes that the acquisition and partnership strategy, combined with its wholesale panel distribution operation, will allow the Company to capture greater market share at a faster rate.
VOLT will continue to develop its Engineering, Procurement and Construction (EPC) division, focusing on installing solar arrays for residential and commercial customers in the Mid-Atlantic region.
VOLT is in the process of completing its acquisition of First Power and Light, LLC. Management will finalize this acquisition upon completion of First Power and Light, LLC’s audit. The audit of First Power and Light, LLC is currently ongoing and upon completion, the Company's acquisition of First Power and Light, LLC will be finalized as expeditiously as possible. Since the acquisition has not yet been completed all financial information currently reported in the Company's filings with the U.S. Securities and Exchange Commission (SEC) do not reflect the business activities of First Power and Light, LLC’s.
For questions, please contact Malcolm Adler, President & CEO at (610) 292-0909.
Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate," "believe," "estimate," "plan," "intend" and "expect" and similar expressions, as they relate to First Power and Light, Inc., or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, such factors, including risk factors, discussed in the Company's periodic reports and other filings made with the SEC, including its Annual Report for the year ending September 30, 2012, filed on Form 10K. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.