RE: New boardThe company did $850,000 in positive EBITDA last year, have a world class President leading the company and management team owns over 50% of the company.
Acro Energy Technologies Inc. (ART:TSX), is one of California’s highest volume solar integrators.
Acro's strategic plan is to consolidate the stronger private U.S. integrators in the residential, commercial and agricultural sectors to build a dominant, national brand within the solar industry.
One of only two public solar integrators in North America with positive cash flow.
Solar Pioneer Nat Kreamer (founder of SunRun, who recently raised $110 million) has been appointed as President. The landing of such management talent is a huge endorsement to the business model.
“Acro’s focused on bringing together profitable independent operators that provide high levels of customer service,” said Nat Kreamer. “As the market for solar integration matures, it is exciting to help Acro build the scale and scope to deliver superior service to customers and results for shareholders.”
Did 1 megawatt of installations last year and will be at 4-5 megawatts by years end. Acro will have 40-50M in revenue for 2009, making them the dominant U.S integrator.
The company is an acquisition target for the panel and cell manufacturers within 12-18 months.