14 Jan 2010 07:00
IPSol Energy first customer revenues
IPSO Ventures plc ("IPSO"), the creator of commercial value from technology, is pleased to announce that IPSol Energy Limited ("IPSol Energy" or the "Company") has secured its first customer revenues within three months of being established.
The Company, which was recently created to provide business and technical solutions to the Solar Photovoltaic ("PV") market, is focused on testing and measurement services and these initial revenues have been generated testing a solar BIPV ("building integrated photovoltaic) product prototype for Solarcentury.
IPSol Energy is developing the UK's first independent commercial PV module testing facility, which will provide manufacturers and installers of solar PV modules with third party validation of their products.
Simon Hunt, Chairman of IPSO, said: "We are delighted that IPSol Energy has received an early endorsement of its services. This rapid generation of revenue validates IPSO's demand-led commercial business model, setting IPSO clearly apart from its competitors."
Daniel Davies, Chief Technology Officer of Solarcentury, said: "The development of businesses such as IPSol Energy is very important to the growth of solar PV in the UK. Having access to a wider range of testing facilities will speed up product development and reduce the cost of introducing new products to market. We chose IPSol Energy to undertake testing to support a new product development project as IPSol Energy has offered competitive prices and a fast turnaround and we look forward to working with them as the UK market for PV grows."
Peter Khoury, Chief Executive of IPSol Energy, said: "Solarcentury is the UK's foremost PV business and we are very pleased that they have chosen to entrust their testing to us."
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 |
| Solarcentury Charlotte Webster | Tel: 0207 8030148 Charlotte.webster@solarcentury.com www.solarcentury.com |
Notes to editors
IPSol Energy was established in late 2009 and Peter Khoury was appointed Chief Executive in October 2009.
IPSol Energy provides 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 will clearly differentiate the business from its competitors.