Los Angeles-based energy technology company, PermaCity Solar, Inc., announced today that they have acquired New Millennium Power, Inc. The acquisition brings leading edge expertise on solar electric system on commercial carports and parking structures, industrial and agricultural storage facilities. PermaCity Solar is an established designer and installer of photovoltaic systems with a wide variety of large commercial installations in Los Angeles and Southern California.
As a part of the agreement, New Millennium Power president H.D. Boesch was named PermaCity's new Chief Technical Officer. Mr. Boesch has worked in the electronics and alternative energy industry for several decades. In addition to its new CTO, H.D. Boesch, the company boasts a solid team of executives, advisors and financial experts.
Within the volatile energy sector, the solar industry remains strong and poised for growth. "We think the number of individuals and corporations going solar will increase dramatically during the next 18 months -- and I do mean dramatically," said Jonathan Port, president and CEO of PermaCity. "Oddly, Southern California, of all places, is an under served market. We are committed to the sustainable success of our community. Perhaps it's our emphasis on technical expertise and quality that makes us unique."
California's solar energy market grew more than 57 percent last year, and is expected to grow at an even higher rate in 2008. With its acquisition of a geographically desirable company, PermaCity is positioning itself to better serve the Southern California market.