First Power and Light Receives $3.5 Million Purchase Order
First Power and Light, LLC (FPL) has received a purchase order from an
existing client valued at $3.5 million. The purchase order is for
approximately seven (7) megawatts of Photo Voltaic (PV) solar panels.
BRIDGEPORT, Pa., Oct. 8, 2013 (GLOBE NEWSWIRE) -- via PRWEB - First Power and
Light, Inc. (OTCBB: VOLT) announced today that its acquisition target, First
Power and Light, LLC (FPL) has received a purchase order from an existing
client valued at $3.5 million.
The purchase order is for approximately seven (7) megawatts of Photo Voltaic
(PV) solar panels.
Management has not yet received a firm delivery date for this order but it is
anticipated to be within this fiscal quarter. This purchase order is the first
of what could eventually be up to twenty (20) megawatts of PV panels required
to satisfy this project. There is no indication that FPL will be the only
supplier to this project but management anticipates the possibility of being
involved in procuring additional panels for this project.
FPL has become one of the larger solar panel discounters in the United States,
distributing mega watts of solar panels at an approximate average price of
under 60 cents/watt while most panel makers sell their panels in the 75 to 90
FPL is in the wholesale, liquidation and solar panel procurement business with
one of its divisions a prominent EPC firm building residential and commercial
solar arrays. Currently, there is a boom in solar building projects for all
segments in the industry. First Power and Light is located in the mid-Atlantic
region, where statistically in 2013, New Jersey, New York and Pennsylvania is
producing more solar jobs than are Arizona, California and New Mexico,
VOLT is in the process of completing its acquisition of FPL. Management will
finalize this acquisition upon completion of FPL's audit. The audit of FPL is
currently ongoing and upon completion, the Company's acquisition of FPL will
be finalized as expeditiously as possible. Since the acquisition has not yet
been completed all financial information currently reported in the Company's
filings with the SEC do not reflect the business activities of FPL.
For questions, please contact Malcolm Adler, President & CEO at (610)
Statements contained herein that are not based upon current or historical fact
are forward-looking in nature. Such forward-looking statements reflect the
Company's expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties. When used
herein, the words "anticipate," "believe," "estimate," "plan," "intend" and
"expect" and similar expressions, as they relate to First Power and Light,
Inc., or its management, are intended to identify such forward-looking
statements. These forward-looking statements are based on information
currently available to the Company and are subject to a number of risks,
uncertainties, and other factors that could cause the Company's actual
results, performance, prospects, and opportunities to differ materially from
those expressed in, or implied by, these forward-looking statements. Factors
that could cause or contribute to such differences include, but are not
limited to, such factors, including risk factors, discussed in the Company's
periodic reports and other filings made with the U.S. Securities and Exchange
Commission, including its Annual Report for the year ending September 30, 2012
filed on Form 10K. Except as required by the Federal Securities law, the
Company does not undertake any obligation to release publicly any revisions to
any forward-looking statements to reflect events or circumstances after the
date hereof or for any other reason.
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