TAMPA, Fla.--(BUSINESS WIRE)--As On the Move Systems (OTCQB:OMVS) turns its focus toward the development of emerging solar technologies, the company is introducing a new website this week detailing its strategy to capitalize on the rapid growth of solar energy and the need for solar electronics.
“Moving forward, the development of profitable solar innovations will be a new priority for our company,” said OMVS President and CEO Chet Gutowsky. “Our plans and projections for the domestic solar industry are promising and we are introducing them on our new website. The new site allows us to delineate our solar objectives, separate from our automotive aftermarket projects.”
OMVS first announced its plans to enter the $6 billion domestic solar energy industry in July. Driven by Federal tax credits, declining technology costs and growing environmental awareness, the U.S. solar power market grew by an unprecedented 67 percent in 2010. Continued growth has helped to spark a boom in clean energy investment. Bloomberg New Energy Finance reported last month that new investment rose 22 percent from the previous year to $41.7 billion.
“There is strong demand for better and more efficient solar technologies, and we believe the solar industry is nearing a tipping point,” Gutowsky said. “OMVS has already targeted promising new innovations for development in order to capitalize on the sector’s tremendous growth potential.”
To learn more about On the Move Systems’ solar industry platform, please visit http://www.onthemovesystems.com/investor-relations.html.
In addition to cutting-edge automotive aftermarket electronics, On the Move Systems is working to commercialize early-stage green technology to compete in an energy sector that includes SunPower Corporation (NASDAQ:SPWRA), First Solar, Inc. (NASDAQ:FSLR), Suntech Power Holdings Co., Ltd. (NYSE:STP) and LDK Solar Co. (ADR) (NYSE:LDK).
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