DayStar Technologies Enters Into a LOI to Acquire Grasshopper Energy

Publicado el 24 oct. 2012
DayStar Technologies 

DayStar Technologies, Inc. entered into LOI agreement to acquire Grasshopper Energy, with the anticipation of completing the purchase in 30 days. Grasshopper Energy provides turnkey solutions for solar power systems. The purchase is a 100% equity transaction.

Grasshopper CEO, Azeem Qureshi, stated, "We believe that joining forces with DayStar will benefit the combined entities and help accelerate achieving global goals. The Grasshopper Energy Online Suite (GEOS) propriety software tools and systems significantly reduce cost and labor. Grasshopper is a very well established and respected brand in Ontario, Canada. Now, with the backing and assistance of DayStar, the combined entities are positioned to become a platform of choice around the world."

Grasshopper has over 100 "microFIT" and "FIT" contracts worth $50M awarded to date. There are additional "microFIT" and "FIT" applications that exceed 3,500 projects, representing a potential pipeline worth $100+M.

The Grasshopper Energy Online Suite (GEOS) proprietary system offers the ability to run a fully integrated web based software suite. The feature of GEOS is its push capability in "Real-Time" communication which can keep all departments, procurement officers, project managers, suppliers, contractors, installers and most importantly the client, informed at all time on the status of a project. 

Grasshopper continues to enhance technology that the U.S. Dept of Energy has just recently just made several grants available to develop. For example, Grasshopper technology allows a solar designer to do a preliminary off-site design in less than 7 minutes with less errors and more accuracy that current manual designs that today typically takes an hour. The GEOS system also allows the time required to manage a project to be reduced by 50%.

Quality control is significantly improved because there are over 70 guided management checkpoints reducing the chance of human error. The GEOS systems allows for a central command center that permits management the ability to monitor and communicate on a project through the back end web based features. This will allow DayStar to increase its global geographic footprint without added resources.


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