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SolarNet Holdings Strengthens Management Team
Rohnert Park, CA: November 3, 2011 --- SolarNet Holdings, LLC, a majority owned subsidiary of ITOCHU Corporation, today announced changes in its top management to enable the company to solidify its position for sustainable growth in the increasingly competitive global solar market. SolarNet is comprised of DC Power Systems and Solar Depot, together the nation's largest solar distributor, and Stellar Energy GP, Inc., a leading solar EPC contractor.
Mr. Toshihiko Fujioka has been named as SolarNet's CEO. A 27-year veteran of ITOCHU Corporation, Mr. Fujioka had served as General Manager of ITOCHU's Solar Business Department since 2009, with overall responsibility for the company's extensive global solar operations, ranging from the distribution of solar systems to investments in solar thermal power generation projects in Japan, key European markets and North America.
Mr. Fujioka replaces Mr. Kevin Shimokobe, who will remain on the Board of Managers and at SolarNet's headquarters in Rohnert Park, supporting the transition through the end of the year. Mr. Shimokobe previously served as the CEO of Solar Depot, a California-based solar distributor that ITOCHU acquired in 2007. Following the subsequent acquisition in 2009 of SolarNet, a leading solar distributor and solar integrator Mr. Shimokobe led both companies during their successful integration under the banner of SolarNet Holdings in February of this year.
"Mr. Fujioka brings a wealth of experience in the solar industry and will be an important addition to the SolarNet team," said Mr. Shuichi Arase, Chairman of SolarNet Holdings, LLC.
"With global-scale involvement ranging from resource development through product distribution and system integration, ITOCHU remains strongly committed to the solar business," said Mr. Eiichi Yonekura, President and CEO of ITOCHU International, ITOCHU Corporation's North American flagship. "Drawing on his high-level industry experience, the addition of Mr. Fujioka to the management team at SolarNet will, I am confident, further reinforce our position as a top player in the dynamic North American solar distribution market."
About SolarNet Holdings, LLC:
Headquartered in Rohnert Park, California, SolarNet Holdings, LLC operates subsidiaries DC Power Systems, Solar Depot and Stellar Energy GP, Inc. With sales offices and distribution centers throughout the United States and Canada, DC Power Systems and Solar Depot make up the largest distributor of renewable energy equipment in the Western Hemisphere. Stellar Energy GP, Inc is a leading large-scale solar EPC contractor focusing on commercial, municipal and utility-scale solar energy projects.
About ITOCHU Corporation:
With approximately 130 offices in 68 countries, ITOCHU Corporation engages in trading and import/export of various products such as textiles, machinery, information and communications technology, aerospace, electronics, energy, metals, minerals, chemicals, forest products, general merchandise, food, finance, realty, insurance, and logistics services, as well as business investment in Japan and beyond.
For further information, contact: Chris Phipps, Vice President of Marketing, at (707) 992-3130 or at chrisp@solarnetholdings.com.
DC Power Systems and Solar Depot Integrate Creating the Largest Solar Distribution Company in the US
February 1, 2011, Rohnert Park and Petaluma, CA.
DC Power Systems and Solar Depot announce today their integration to create the premier distribution company in the solar energy industry. Operating as two companies within SolarNet Holdings, LLC, DC Power and Solar Depot will together serve more than five thousand renewable energy dealers throughout the Americas, forming the largest distribution company in the industry.
"By combining the resources of our two companies, we are creating a best-in-class solar energy distribution company that is poised for significant and sustainable growth," says Kevin Shimokobe, newly named CEO of SolarNet Holdings, previously CEO of both Solar Depot and DC Power.
Customers can expect to continue to interact with each company as they always have. DC Power and Solar Depot will maintain separate brands while offering customers better service thanks to several process improvements including significant joint investment in IT infrastructure.
DC Power and Solar Depot expect to reap the benefits of considerable synergies between the two companies, including the sharing of regional distribution warehouses and opening new warehouse locations, combined dealer training programs, deep relationships with leading solar manufacturing partners, and the best technical and sales support in the industry. In addition, cost and operational advantages gained through the integration will increase the competitive advantage of both companies. With industry leading products in photovoltaics, solar thermal and wind energy, DC Power and Solar Depot will combine to form the most complete renewable energy distributor in the Americas.
For more information, please contact Chris Phipps, Vice President of Marketing, SolarNet Holdings, LLC, at 707-992-3130 or chrisp@solarnetholdings.com, or visit www.dcpower-systems.com and www.solardepot.com.
About DC Power Systems
Founded in 1999 by Joseph and Daniel Marino, DC Power quickly became one of the nation’s largest distributors of renewable energy products. With more than five thousand dealers throughout North and South America, and regional offices in eight US states, DC Power is a leader in the American solar energy market.
About Solar Depot
For over 30 years, Solar Depot has been designing and supplying solar energy systems for residential, commercial, and industrial applications, making it one of the largest and most experienced solar distributors in the United States. Having pioneered one of the first solar training programs for contractors in 1999, the company has since trained over five thousand contractors, many of whom now constitute Solar Depot’s broad dealer network throughout the U.S.
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