VICTORIA, BRITISH COLUMBIA, CANADA (March 6, 2013) Carmanah Technologies (TSX:CMH) announces that a major Utility in the United States is equipping its fleet of service and repair vehicles with the company’s proprietary Go Power!™ brand inverters. Able to respond to a unique challenge the Utility was having in outfitting their existing fleets with pure sine wave inverters, Go Power! answered the call with a custom fit solution valued at over $500,000.
The customized Go Power! inverter solution was chosen as the lighter and more compact contender with a competitively-driven price. The system allows drivers to power tools or office equipment without the use of grid-power by drawing directly from the vehicle’s battery bank. Go Power! has provided complete inverter power solutions for a variety of fleet, utility and work trucks across North America. Go Power! has also been featured in Canada’s Go Tire mobile fleet, recently seen on CBC’s reality show, Dragon’s Den.
“The Go Power! team was instrumental in helping us design a power solution for our vehicles and they supplied a fantastic product. Their customized solution is a great fit for us” says a representative from the Utility fleet’s upfitting provider, who is responsible for the installation.
Bruce Cousins, Carmanah CEO, comments, “With the strong market share position and proven performance of the Go Power brand, we are now able to leverage this brand equity into fleet sales. Such large orders represent an increasing percentage of our revenue base.”
Carmanah’s Go Power!™ team will be exhibiting their power inverter product line at the following national trade shows: The Work Truck Show, March 6 – 8, Booth 5764; Mid-America Trucking Show, March 21 - 23, Booth 65181 and NAFA Fleet Management Association’s Institute and Expo, April 24 – 25, Booth 722. For more information, please contact Mike Stephens at email@example.com.
About Carmanah Technologies Corporation (TSX: CMH)
Carmanah Technologies Corporation is a global provider of renewable and energy-efficient technologies. The Company’s proprietary brand, Go Power! is a leader in the mobile, solar power industry with more than 15 years of experience in the RV and fleet truck market. Go Power! by Carmanah is one of North America’s most popular and recognized brands in solar power for both recreational and industrial use. Products include solar charging kits, pure and modified sine wave inverters and solar power accessories. Carmanah is a publicly traded company, with common shares listed on the Toronto Stock Exchange under the symbol "CMH”. For more information, visit www.carmanah.com.
For further information:
Investor Relations: Roland Sartorius, CFO
Public Relations: Natasha Bartlett
This news release contains “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Forward-looking statements are generally identifiable by use of the words “believes,” “may,” “plans,” “will,” “anticipates,” “intends,” “budgets,” “could,” “estimates,” “expects,” “forecasts,” “projects” and similar expressions, and the negative of such expressions. Forward-looking statements in this news release include statements about the series of sales to the Utility; completion of the installation of the Go Power! inverters; and Carmanah’s strategy, future operations, prospects and the plans of management.
With respect to the forward-looking statements contained in this news release, Carmanah has made numerous assumptions regarding, among other things, the series of sales to the Utility and completion of the installation of the Go Power! inverters. While Carmanah considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause Carmanah’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained herein. Known risk factors include, among others: the transactions contemplated in the Agreement may not be completed as currently anticipated, or at all; the series of sales to the Utility; completion of the installation of the Go Power! inverters; and general risks related to the competitive environment, competition with other energy sources, technological changes; ability to manage expansion effectively, foreign exchange, reliance on third party manufacturers, reliance on outside agents and distributors, reliance on key employees, intellectual property risks, environmental and regulatory compliance, government contracts and subsidies, product quality and reliability and warranty liability risk, downturn in economic and market conditions, liquidity and capital requirements, litigation risk, potential reorganization of operations or product offerings, and geopolitical and other global or local events. A more complete discussion of the risks and uncertainties facing Carmanah appears in Carmanah’s most recently filed Annual Information Form, Annual MD&A, and other continuous disclosure filings which are available on SEDAR at www.sedar.com and on the Company’s website at Carmanah disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.