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PORT CHESTER, N.Y., Jan. 9, 2014 /PRNewswire/ -- Mercury Solar Systems, Inc. (the "Company"), one of the top solar integrators on the East Coast, today announced that its shareholders voted in favor of its merger with a subsidiary of Real Goods Solar, Inc. (NASDAQ: RSOL), a nationwide leader of turnkey solar energy solutions for residential, commercial, and utility customers. Real Goods Solar will hold a Special Meeting of its Stockholders on
January 14, 2014 at
10:00 a.m. (GMT), at the offices of Real Goods Solar, 833 West South Boulder Road,
Louisville, Colorado to approve the merger.
"Our combination with Real Goods Solar will create a powerhouse in the commercial solar space and we are excited to be one step closer to finalizing this transaction," said
Jared Haines, President, Mercury Solar Systems, Inc. He continued, "We had a strong fourth quarter building and commissioning solar systems on behalf of our customers and third party system owners. We continued our 5 year trend of positive operating results and will deliver to Real Goods financial resources including more than
$10 million in cash and no debt. In addition to the completion of several major projects during the fourth quarter, we continued to increase our sales pipeline of projects that we expect to construct during 2014, invested in our operational readiness to support future growth, and expanded into new markets. During 2013, we benefitted from a number of strong state based incentive programs and new commercial customers including Panasonic and Green Mountain Coffee Roasters, Inc. We are excited by our momentum going into the new year."
The Company also announced that it has established operations in
Puerto Rico and has several projects under development.
Recent successful commercial projects include: