ECOtality, Inc. (ETLY.OB) Signs Definitive Agreement to Acquire Innergy Power Corporation
ECOtality announced this morning that it has entered a definitive agreement to purchase the assets of Innergy Power Corporation. Innergy Power is focused on designing and manufacturing thin, sealed rechargabele lead batteries and high quality flat-panel multi-crystalline solar modules. The acquisition is expected to close in October of this year. Jonathan Read, President and CEO of ECOtality, stated, “The acquisition of Innergy helps ECOtality grow financially, technologically and strategically. Innergy provides us a profitable expansion platform for solar and energy storage solutions, as well as a low-cost manufacturing facility in Mexico. From the outset, ECOtality has sought to become…