Juhl Energy, Inc. Announces Acquisition of Leading Solar Power Systems Distributor PV Power, Inc.
Leading Supplier of Solar Systems via the Internet Expands Company's Ability to Deliver Renewable Energy Systems to Consumers and Small Business
PIPESTONE, Minn., Feb. 13, 2014 /PRNewswire/ -- Juhl Energy, Inc. (OTCQB: JUHL, the "Company"), a leading provider of Clean Energy Solutions and the Leader in Community Wind Power, today announced that they have acquired PV Power, Inc., a leading online distributor of solar power systems and solar components to industry professionals, contractors and consumers across the country.
"If we want to continue our leadership reputation and role in renewable energy, we have to be active in the consumer and small business sector," stated Dan Juhl, chairman and CEO of Juhl Energy, Inc. "We believe that this market is where significant growth and opportunity is obtainable - and, of course, we have to be active in the solar sector, as prices continue to drop and technology continues to advance. We view the purchase of PV Power as a smart and focused expansion strategy based on their success and the fact that they have been operating profitably for the past year. This acquisition is part of our larger diversification strategy, and we expect it to grow considerably with the added exposure of being part of the Juhl Energy portfolio of companies," added Juhl.
Founded in 2009 and based in Chicago, Illinois, PV Power, Inc. is a solar power components distributor, specializing in the sale and distribution of solar panels, inverters, monitors, charge controllers, and solar batteries, among other products. PV Power helps solar installers increase productivity and efficiency through its self-developed web applications. These applications enable installers to plan, pitch and purchase their solar projects seamlessly by tapping into the PV Power product catalog and automatically generate a competitive system package.
As part of this acquisition Juhl Energy and PV Power will be launching a line of complete solar power systems. The "Cabin", the "Home" and the "Small Business" lines are packaged to offer all levels of customers a comprehensive, pre-packaged solution containing all they need for a successful installation at very attractive pricing. These systems are being combined with Juhl's current Solarbank lineup to provide homeowners and small businesses with a set of simple solutions for their facilities.
Chuck Von Drehle, Director of Online Sales at PV Power stated, "This has been a great transition from PV Power to Juhl Energy and we now are associated with the country's leading team in all aspects of renewable energy. PV Power now has greater purchasing power that will make us even more competitive in this growing marketplace."
For additional information on this transaction, refer to the Company's 8-K filing which can be found within the Securities & Exchange Commission's web site at www.sec.gov or the Investor Info section of the Juhl Energy home page, www.juhlenergy.com.
For more information on PV Power, please visit www.pvpower.com.
About Juhl Energy, Inc.
Juhl Energy is an established leader in the renewable energy industry with a focus on Community-Based Wind Power development, ownership and management throughout the United States and Canada. Juhl Energy pioneered Community-Based wind farms, developing the currently accepted financial, operational and legal structure providing local ownership of medium-to-large scale wind farms. To date, the Company has completed 23 wind farm projects and provides operations management and oversight across the portfolio. Juhl Energy services every aspect of wind farm development from full development and ownership, general consultation, construction management and system operations and maintenance, in addition to performing other cellular tower maintenance services. With its consolidation of the Valley View, Winona County and Woodstock Hills wind farms, the Company has now invested in and operates 21.7 MWs of wind power through its independent power producer ("IPP") subsidiary, Juhl Renewable Assets, Inc. Through its subsidiary, Juhl Renewable Energy Systems, Inc. ("JRES"), the Company also provides full sales and service to smaller, on-site wind and solar projects in addition to our larger Community Wind Farms. With its acquisition of Power Engineers Collaborative, Juhl provides a full range of engineering services to the energy industry, building systems markets and heavy industry. Juhl Energy is based in Pipestone, Minnesota and has offices in Chicago, Minneapolis, Madison and Milwaukee. Juhl is traded on the OTCQB under the symbol 'JUHL'. Additional information is available at the Company's website at www.juhlenergy.com or by calling (507) 562-8090.
Juhl Energy Investor Relations
Phone: (888) 438-JUHL (5845)
FORWARD LOOKING STATEMENTS
This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Juhl Energy's current expectations about its future results, performance, prospects and opportunities. Juhl Energy has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "hope," or similar expressions. These forward-looking statements are based on information currently available to Juhl Energy and are subject to a number of risks, uncertainties and other factors that could cause Juhl Energy's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements and specifically those statements referring to any specific projects, prospective acquisitions and wind farm assets mentioned herein. These risks are referenced in Juhl Energy's current 10K or as may be described from time to time in Juhl Energy's subsequent SEC filings; and such factors as incorporated by reference.
SOURCE Juhl Energy Inc.
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