TOLEDO SOLAR UNDERGOES MANAGEMENT TRANSITION

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Jul 18, 2023, 11:55 ET

PERRYSBURG, Ohio, July 18, 2023 /PRNewswire/ -- Toledo Solar Inc. (TSI) announces the transition to a new investor-led Independent Board of Directors and leadership team to re-affirm Toledo Solar's commitment to US energy security by manufacturing high-quality American-made CadTel solar panels in Ohio for the residential, commercial, and industrial markets.

Tom Pratt, Managing Director of Applied Business Strategy LLC, has been appointed interim President, Treasurer, and Secretary by TSI's Board of Directors to ensure that Toledo Solar remains aligned with this mission. "I am looking forward to the opportunity to work with the Board of Directors for Toledo Solar and the impressive team, both technical and administrative, that is working hard to bring Toledo Solar's innovative products to market," said Tom Pratt.

Lead investor, Sean Fontenot, is the Board's new Chairman. Sean will oversee daily operations with Tom Pratt. "The investors in Toledo Solar remain strongly behind the Company and its people, and we are fully engaged. The recent First Solar complaint was a very concerning surprise. We are finalizing gathering all of the facts around this and expect to resolve the matter shortly. From our perspective, First Solar and Toledo Solar are critical partners in several critical industry programs that are important to the Government's US Energy Security policies for American-made solar products, and we are re-dedicating our commitment to making sure this continues."

About Toledo Solar

Toledo Solar manufactures state-of-the-art Cadmium Telluride solar modules for the residential, commercial, and industrial markets.

SOURCE Toledo Solar Inc