NORTH BRUNSWICK, NJ / ACCESSWIRE / July 2, 2020 / TGI SOLAR POWER GROUP INC. (OTC PINK:TSPG) "TGI", a diversified technology company, announced today that it has entered into a definitive agreement to acquire interest in Lucent Energy Management. Lucent provides renewable energy services and energy efficiency installations for commercial and residential energy consumers. As a direct installer, they offer system engineering, procurement, and construction (EPC) of renewable energy systems. Currently Lucent has offices in New Jersey, which covers the Northeast, and in South Carolina, which covers Southeastern states. The transaction is subject to customary closing conditions and is expected to close in the third quarter.
Mr. Steven Schwartz, CEO and Chairman of Lucent, will oversee solar and other green developments of TGI; he comes with years of experience and brings with him a staff of 50+ developers, salespeople, engineers and solar installers. TGI plans to bring in additional sales staff and trainees from a pool of interns. An expansion plan also calls for strategic expansion into Western states of the USA; the target markets being California and Texas to start with.
Chairman and Chief Executive Officer of Lucent, said, "We are thrilled to expand our partnership with TGI management team. Lucent's management wants to successfully reposition the company and strengthen its financial performance. Now, under the guidance of TGI, with their deep experience in the energy industry and capital allocation, we are excited to participate in the next phase of Lucent's growth. I am confident that the TGI team is the best partner for Lucent for the long-term."
TGI management is pleased with its decision to make Mr. Schwartz the head of the Solar Energy and Storage Division. His leadership will enhance TGI's green sustainable energy developments.
For more information, please see www.otcMarkets.com under ticker symbol "TSPG", and visit our Facebook page www.facebook.com/TGISolarPower/
About Lucent Energy Management: Lucent Energy Management offers engineering, procurement, and construction (EPC) of renewable energy systems. Lucent's services include: free site evaluations, renewable energy analysis, solar PV system design, LED lighting design, power factor correction services, project management, installation, operations, maintenance, and monitoring support.
https://www.lucent-energy.com
About TGI Solar: TGI SOLAR POWER GROUP INC. is a diversified holding company. TGI's strategy is to acquire innovative and patented technologies, components, processes, designs and methods with commercial value that will give competitive market advantage and generate shareholder value.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission
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HenryV@TGIPOWER.COM
SOURCE: TGi Solar Power Group, Inc.
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