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Northern Power Systems Corp. Announces Effective Date of TSX Delisting

Barre, VT USA (21 September 2018) – Northern Power Systems Corp. (TSX: NPS) (the “Company”), a next generation renewable energy and energy storage technology company, today announced that on September 20, 2018 the Company received a letter from the Toronto Stock Exchange (“TSX”) notifying the Company that the TSX has determined to delist the Company’s securities, effective October 22, 2018.  TSX imposed the delisting for the failure of the Company to meet certain continued listing requirements of TSX.  The TSX identified several deficiencies regarding the Company’s […]

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Northern Power Systems Reports Second Quarter 2018 Results

Business Highlights: Continued delays in the clarification of the Italian feed-in-tariff continue to negatively impact our revenue in our first half of 2018 as compared to the same period in 2017. The release of a revised Italian feed-in-tariff has been delayed since July of 2017.  We continue to expect further delays in such policy being clarified until at least the fourth quarter of 2018. Successfully completed a convertible note capital raise in August of 2018, raising $2.0 million, of a potential $2.75 million financing. New […]

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Northern Power Shuffles Management and Announces a Resignation from the Board of Directors

BARRE, VT., August 7, 2018 (GLOBE NEWSWIRE) – On August 7, 2018, Northern Power Systems Corp (“Northern” or the “Company”) (TSX:NPS) announced today that Ciel R. Caldwell, the Company’s President and Chief Operating Officer and current interim Chief Financial Officer, announced her intention to resign as President and Chief Operating Officer of Northern Power System Corp. (the “Company”), effective immediately, but indicated she would remain with the Company to focus exclusively on carrying out her role and responsibilities as Chief Financial Officer of the Company. […]

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Energy Groups Collaborating for Utility Scale Electric Storage Project in Hinesburg Vermont

Partnership to bring cost-effective storage onto the VEC electrical system Johnson, VT- Vermont Electric Cooperative (VEC), Viridity Energy Solutions, Inc. (Viridity), Northern Power Systems, Inc. (Northern Power), and WEG Electric Corp (WEG), today announced a new and unique collaboration to implement a utility scale Battery Energy Storage System (BESS) for VEC in Hinesburg, VT.  The lithium battery system, with an installed power of 1.9MW and energy storage capacity up to 5.3MWh, will increase flexibility for VEC, allowing it to draw power from the battery during […]

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Northern Power Closes Private Placement Financing Under Financial Hardship Exemption

BARRE, VT., August 2, 2018 (GLOBE NEWSWIRE) — Northern Power Systems Corp (“Northern” or the “Company”) (TSX:NPS) announced today that it completed the initial closing of a private placement financing effected under the financial hardship exemption available to companies listed on the Toronto Stock Exchange (the “TSX”) under certain circumstances (the “Financing”). At the initial closing, the Company issued Convertible Subordinated Promissory Notes (the “Notes”) to certain new investors (each a “New Investor”) as well as certain existing investors, including John Simon and Richard Hokin, who […]

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Northern Power Announces Reliance on Financial Hardship Exemption in Connection with a Private Placement Financing

BARRE, VT–(July 19, 2018) – Northern Power Systems Corp (“Northern” or the “Company”) (TSX:NPS) announced today its intention to effect a financing pursuant to which the Company will issue Convertible Subordinated Promissory Notes (the “Notes”) (the “Financing”) to certain new investors (each a “New Investor”) as well as certain existing investors, including John Simon and Richard Hokin, who are both current and significant shareholders of the Company and members of the Company’s Board of Directors (the “Existing and Other Investors”) (the Existing and Other Investors collectively, […]

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Northern Power Systems Reports Results of Annual General Meeting of Shareholders

Barre, VT USA (2 July 2018) – Northern Power Systems Corp. (TSX: NPS), a next generation renewable energy technology company, today announced that all nominees listed in the Information Circular and Proxy Statement of Northern Power, dated June 5, 2018, for the Annual General Meeting of Shareholders held June 27, 2018 in Barre, VT (the “Meeting”) were elected as directors of Northern Power.  The seven (7) candidates nominated for election were elected by a majority of the shareholders present in person or represented by proxy at […]

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Northern Power Systems Reports First Quarter 2018 Results

Business Highlights: Uncertainty in the Italian market due to the expiration of the feed-in-tariff for distributed wind has created challenges with our core distributed wind business. Revenues from all geographic markets in the first quarter of 2018 were $1.6M, 25% of which was generated from services within Italy, as compared to $6.2M of revenues in the previous year period, of which Italian business represented approximately 85%. Advancing pipeline in the energy storage business, including full site development with turnkey installations for owners as well as […]

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Northern Power Systems Corp. Announces Receipt of TSX Notice

Barre, VT USA (31 May 2018) – Northern Power Systems Corp. (TSX: NPS), a next generation renewable energy and energy storage technology company, today announced that on May 24, 2018, Northern Power Systems Corp. (the “Company”) received a letter from the Toronto Stock Exchange (“TSX”) notifying the Company that the TSX had initiated a review of the Company’s eligibility for continued listing on the TSX.  Further, the TSX identified several deficiencies regarding the Company’s compliance with the TSX continued listing requirements, including the fact that (i) the […]

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Northern Power Systems Reports Fourth Quarter and Full Year 2017 Results

Business Highlights: Global fleet of installed distributed wind turbines expanded to 845-units, achieving over 20 million run-time hours while delivering continued 98% grid-connected availability. Recorded $11.1 million and $38.6 million in revenues for the fourth quarter and fiscal year ended of 2017, respectively. Gross margin improved to 24.0 percent and 19.9 percent for the three and twelve month periods ended December 31, 2017, respectively, compared to 5.2 percent and 7.9 percent for the three and twelve month periods ended December 31, 2016, respectively. Reported net […]

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