XZERES Wind, www.xzeres.com – the developers of on- and off-grid ready (engineering emphasis on distributed or standalone functionality, where the energy is intended for localized use) wind power systems in the 2.5-10kW range, reported today acquisition of substantially all assets of power management/efficiency solutions developer Rochester Power Saver Inc.
President of Rochester, Mike Dana, explained that the terms of the deal include his own retention for a period of up to three years in a sales and product development consultancy role and a 24-month obligation for XWND to pay a 5% royalty on gross profits to the founders (to a maximum of $150k), in addition to the $50k in cash and 304,721 shares of common stock already paid.
This deal allows XWND to expand its operational envelope to include a range of advanced power efficiency products made by Rochester, allowing the Company to provide robust solutions for urban/rural businesses and residential customers that will cut power consumption rates, while increasing the lifespan of infrastructure and reducing the overall carbon footprint of activity. Rochester’s family of technologies improve the so-called “power factor”, reducing the amount of reactive power drawn at a given location and thus enhancing the operational performance of inductive motors through a sharp reduction in the amperage required to function.
The vast array of complementary Rochester products will make a nice addition to XWND’s solutions for turbine customers, while simultaneously opening up a huge standalone market for systems that are generally installed right at a given facility’s main distribution panel, negating the need for advanced permitting.
CEO of XWND, Frank Greco, highlighted the appeal of the new, broader solutions and access to localized commercial power markets as a major milestone for the Company. Greco indicated plans to leverage the new capabilities and XWND’s already massive sales/marketing infrastructure to rapidly grow the business.
Chairman of XWND, David Baker, noted that this is the Company’s first acquisition since acquiring the primary wind turbine business unit back in March of 2010, and that the goal to become a global leader in renewable/clean energy solutions would involve a complete corporate re-branding initiative. The Company will henceforth be referred to as XZERES and will consist of distinct, but integrated Wind Power and Power Management Divisions.