XcelPlus Global Holdings acquiring solar hot water systems

DOTHAN, USA: XcelPlus Global Holdings Inc. will receive its first shipment of solar hot water systems in July and has already entered negotiations for additional units, following through on its plan announced earlier this month to diversify the company's customer base and product lines.

"XcelPlus Global is a green energy company at its core, so expansion into the solar segment is a natural evolution," said COO David Poston. "Our near-term goal is to install several units and verify the performance. Longer term, we are in negotiation for purchase of additional units or possibly acquiring the supplier, though nothing is final."

The solar systems are designed for home and light commercial/industrial applications. The Federal government currently provides a 30 percent tax credit for the purchase of a home solar unit. States may offer additional incentives.

With the delay in renewal of the biofuel subsidy, XcelPlus Global's management moved purposefully to expand the company's technology base, Poston explained: "The income from the subsidy helped build this company in its early stages. However, the increasing delays in the subsidy's renewal, and the need for it to be renewed annually, caused management to explore additional revenue streams."