EGPI Firecreek To Buy Arctic Solar Engineering

By St. Louis Business Journal

EGPI Firecreek Inc. of Scottsdale, Ariz., said Thursday it plans to buy Arctic Solar Engineering in St. Louis for an undisclosed amount.

Privately held Arctic Solar, which supplies solar thermal systems, has forecasted 2011 solar revenue of more than $2 million, said EGPI Firecreek, which ⿿anticipates significant revenue growth as a result of this acquisition.⿝

Solar thermal energy technology captures sunlight, converts it into energy and stores that energy in water. The energy is used to heat water, heat space and cool spaces.

Arctic Solar uses technology patented more than 30 years ago by Daimler Aerospace in Germany. This technology is used throughout Germany, other parts of Europe, Asia and the Middle East.

Fred Sussman, CEO of Arctic Solar Engineering, will remain with EGPI Firecreek (OTCBB: EFIR), which is led by CEO Dennis Alexander.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/stlouis/news/2011/01/13/egpi-firecreek-to-buy-arctic-solar.html?ana=thestreet

Copyright bizjournals.com 2010

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