EarthKind Energy Divests Solar Products Division to Focus on Solar Project Development

Online, September 19, 2012 (Newswire.com) - RHINEBECK, NY - EarthKind Energy®, a renewable energy company founded in 2007, today announced that it has sold its Solar Products Division in order to concentrate on its rapidly expanding solar project development business.

"This move is an integral part of EarthKind's business strategy to focus on and leverage our core competencies of solar project development, including identifying projects, securing government incentives, and structuring project management and financing," said Ron Kamen, EarthKind Chairman. "We have developed solid relationships with solar equipment manufacturers, distributors and installers who will do a great job of managing warehouses and materials. By concentrating on solar project development, our logistics partners will allow us to do what we do best: use our knowledge, experience and relationships to develop successful renewable energy projects."

Linda Curtis, President of EarthKind, said that the focus on project development is the next logical step in EarthKind's evolution. "Over the last six years, our customers have had to contend with fast-paced fluctuations in solar markets and government policies," said Curtis. "We are excited to concentrate our expertise and relationships to exclusively help our clients develop commercial solar electric, hot water and solar heating projects that save them money while meeting their energy, esthetic and environmental goals."

Douglas Polley, the former President and CEO of EarthKind who led EarthKind's transition from a primarily solar hot water products distributor to a Solar PV and Solar Thermal Project Developer, will continue to support EarthKind in an advisory role. Polley said, "I have worked with Ron for the last two years to develop and implement a business strategy that leverages EarthKind's years of experience in renewable energy. This announcement is the culmination of our efforts. I am proud to continue my support and believe that the changes strengthen the ability of EarthKind to facilitate solar development here in New York State and beyond."

As part of the restructuring, Kamen and Curtis acquired the outstanding shares of EarthKind stock, secured 100 percent ownership, and relocated the company's corporate headquarters to Rhinebeck, NY.

Kamen and Curtis also co-own Starphire® New Energy Technologies (Starphire.NET), a renewable energy wholesale and consulting firm. Starphire markets the EarthKind Wind®, EarthKind Hydro® and EarthKind Biomass® renewable energy brands to customers, including NYSEG Solutions/Energetix; the NYS Office of General Services; the NY Power Authority; the State University of New York at Buffalo; and other public institutions and private businesses.

EarthKind's Solar Energy division has developed solar electric, solar hot water and solar heating projects for scores of commercial customers throughout the region, including the City of Binghamton, Greater NY Auto Dealer Association in Queens, Benedictine Hospital in Kingston, NorthEast Health's Hawthorne Senior Living Center in Albany, Wadsworth Terrace multifamily affordable housing complex in the Bronx, and the Millbrook Water Treatment plant in the Town of New Castle.

Kamen stated "EarthKind and Starphire create a unique business synergy that offers clients in the marketplace a powerful ally to lead them from start to finish on cleaning their energy supply, whether from development of on-site renewable energy projects or via the purchase of 'green power' through the grid. We look forward to the expanded growth that will be propelled by this next evolution of our business model."

For more information, contact:
Ron Kamen: 845-266-3723, [email protected]
Linda Curtis: 845-266-5401, [email protected]