TGI Enters into Definitive Agreement to Acquire Interest in Lucent Energy Management

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Jul 3, 2020

TGI SOLAR POWER GROUP INC. (OTCMarkets: TSPG) “TGI”, a diversified technology company, announced today that it has entered into a definitive agreement to acquire an 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.
 
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.

Articles authored by Martin Signer

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