4 Nov 2009 07:00
Ipso Creates Photovoltaic Testing Business
IPSO Ventures plc ("IPSO"), the creator of commercial value from technology, has created its first business in the renewable energy sector, IPSol Energy Limited ("IPSol Energy").
IPSol Energy is providing business and technical solutions to the Solar Photovoltaic ("PV") market with an initial focus on testing services. It is establishing the UK's first commercial PV module testing facility, which will provide manufacturers and installers of solar PV modules with third party validation of their products.
PV modules can vary greatly and manufacturers and installers need to be able to guarantee the performance, reliability and safety of their products to defined International Standards. There are a number of testing businesses located mainly in Germany, the USA and the Far East which currently service this market. However shortages of capacity have meant lengthy waiting times before the testing procedures can even begin, and extended testing periods, resulting in delays in product development and certification. These problems are often combined with poor customer service. Together with the new renewable energy feed-in tariff being introduced in the UK from April 2010 this provides a great opportunity for IPSol Energy.
IPSol Energy will have particular expertise in the newer forms of PV technology, such as thin film, as well as expertise in crystalline silicon. IPSol Energy's ability to test these technologies effectively would clearly differentiate the business from its competitors.
Peter Khoury has been appointed Chief Executive Officer of IPSol Energy to oversee the development of the business. Until recently, he was CEO of BridgeTech Industries LLC, a world leading developer of solar thermal technologies based in San Francisco.
Peter, a chemical engineering and computer sciences graduate, is a seasoned and versatile international executive, who has held senior positions in a broad spectrum of businesses from start-ups to multi-nationals. He has launched and sold a number of privately-owned start-up ventures, including ICS, an ICT consulting business, which he sold in a multi-million dollar exit to a US quoted company. Peter also has an excellent track record of raising finance for private and public sources in the US, Europe and China.
Simon Hunt, Chairman of Ipso Ventures said: "This is our first venture into the renewable energy sector. We have established that there is a clear need in the PV market for proof of performance and are confident that, under Peter's leadership, IPSol Energy will deliver a valuable solution."
Peter Khoury, CEO of IPSol Energy, said: "I am very excited to have the opportunity to lead IPSO into the renewables sector. IPSol Energy is a valuable and important first step into the clean energy market for them."
For further information, please contact:
| IPSO Ventures plc Simon Hunt, Executive Chairman Nick Rodgers, Chief Executive Officer | Tel: 020 7921 2990 simon@ipsoventures.com nick@ipsoventures.com www.ipsoventures.com |
| IPSol Energy Limited Peter Khoury, Chief Executive Officer | Tel: 020 7921 2998 peter.khoury@ipsolenergy.com |
| Ambrian Partners Limited Samantha Harrison | Tel: 020 7634 4712 samantha.harrison@ambrian.com |
| Old Park Lane Capital plc Michael Parnes | Tel: 020 7493 8188 mp@oldplc.com |
| Rawlings Financial PR Limited Catriona Valentine | Tel: 01653 618 016 catriona@rawlingsfinancial.co.uk www.rawlingsfinancial.co.uk |
Company description:
IPSO creates commercial value from technology and its business model is entirely demand driven. It works closely with its industrial collaborators to identify the demand for new, innovative technologies and then, through its strong relationships with research institutions, sources technologies which could meet those needs. Much of this technology requires considerable further work by IPSO before it can be sold to industry as a developed product. IPSO creates businesses and provides expertise, strategic direction, human and seed capital, as well as corporate finance advice.
For industrial collaborators, IPSO provides a mechanism to identify and develop technologies which could be of significant value to their businesses, and removes the risk to them of acquiring raw, unproven and undeveloped technology.
For research institutions, IPSO provides greater certainty that their technology will find commercial success.