Fourth Wave Energy Inc. Reaches Agreement to Acquire Patented Solar Roofing Company

Rhea-AI Summary

Fourth Wave Energy (OTCQB: FWAV) announced its intention to acquire DeSol Power Tiles, a solar tile company, on October 5, 2020. The acquisition aims to manufacture, market, and distribute solar roof tiles across North America. DeSol's patented solar roof system integrates aesthetic appeal with solar functionality, providing a long-lasting, aesthetically pleasing solar option. The company sees potential for rapid scaling due to the product's ease of installation and a growing market for solar energy solutions, especially in the residential sector.

Positive

• Acquisition of DeSol Power Tiles enhances product portfolio in environmentally friendly roofing solutions.
• DeSol solar roof tiles provide a 30-year performance guarantee, appealing to long-term customers.
• The product's aesthetic appeal can attract a broader customer base beyond traditional solar panel users.
• Strong market potential exists with only 3% of US homes currently utilizing solar energy.

Negative

• None.

SAN JOSE, Calif., Oct. 5, 2020 /PRNewswire/ -- Fourth Wave Energy, Inc. (OTCQB: FWAV) ("Fourth Wave" or the "Company"), a San Jose-based climate solutions company, announces plans to acquire solar tile company DeSol Power Tiles (www.desolpowertiles.com).

The company plans to manufacture, market and distribute throughout North America solar tile roofs designed by DeSol Power Tiles. The DeSol solar roof system integrates design and functionality. The patented system uses roof tiles, not solar panels, as to not affect the aesthetic or architectural appeal of a roof. With a simple, flat design, based on the classic Nordic style, DeSol roof tiles will complement the home with a completely sealed, walkable surface that covers the entire roof. Currently manufactured in the US, DeSol solar roof tiles provide a beautiful solution with a performance guaranteed for 30 years.

The system is easily installed by local contractors, roofers and developers with the aid of an electrician for wiring. Due to this ease of installation the company plans to scale quickly and effectively.

Residential and commercial buildings create approximately 30% of all greenhouse gas emissions and have become a major target of climate activists on the path to a low or zero carbon future. The US has approximately 80 million homes and only about 3% have been converted to solar powered clean energy.

The DeSol Tile was developed and patented in the United States by a Belgium based solar engineer in response to the growing need for an ascetically pleasing solar roofing option.

"We are very pleased to be able to add the product to our company," stated Joseph Isaacs, FWAV CEO. "Solar tiles present a unique and increasingly popular solar option as they are widely considered to be more aesthetically pleasing, more cost effective and can be easily installed." The acquisition is subject to a number of conditions, including the execution of a definitive agreement between the parties.

Company Contact:

Fourth Wave Energy
Phone: 408-213-8874  
www.fourthwaveenergy.com  
Email: info@fourthwaveenergy.com

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SOURCE Fourth Wave Energy, Inc.

FAQ

What is Fourth Wave Energy's recent acquisition announcement?

Fourth Wave Energy has announced plans to acquire DeSol Power Tiles, a solar tile company, to enhance its product offerings.

What are DeSol Power Tiles?

DeSol Power Tiles are patented solar roof tiles designed to provide an aesthetically pleasing solar solution that is easily installed.

When was the acquisition announcement made?

The acquisition announcement was made on October 5, 2020.

How does the acquisition benefit Fourth Wave Energy?

The acquisition allows Fourth Wave Energy to diversify its offerings in the solar market, targeting both residential and commercial sectors.

What is the significance of solar technology in Fourth Wave Energy's strategy?

Solar technology is crucial for Fourth Wave Energy as it aligns with climate goals, addressing greenhouse gas emissions from residential and commercial buildings.