In March of 2009, Oneworld established Oneworld Solar as an operating division in Munich, Germany, to provide services as a PV solar integrator (“Oneworld Solar”).  Oneworld Solar commenced operations in Q3 of 2009 and currently designs and installs roof mounted PV solar systems and small commercial ground mounted PV solar systems for third parties (integrator) in Germany.  Oneworld Solar was acquired by Oneworld Solar Inc. (“OSI”) in April 2010.  OSI primarily provides integration services for residential and small commercial opportunities (from 2 kW to 2 MW).  Following creation, OSI had revenues of approximately €310,183 ($481,000) in 2009.  Historically, OSI has succeeded in converting approximately 10% of its pipeline to revenues and has a backlog of projects of approximately €5 million for 2010.  It began construction of a 1.8 MW solar PV park in May of 2010.  OSI has projects in its pipeline of €5 million that it believes that it is on track to achieving its 2010 projected metrics.  The assets and liabilities of OSI were transferred to OSI in April of 2010.  Oneworld anticipates that OSI will add additional business development personnel and additional field service teams to generate additional sales revenues. Management expects is that this in combination with the fact that OSI has been operational for over nine months, should result in most incremental revenues and earnings.

In November 2009, Oneworld acquired the shares of OSC.  As a result of this acquisition, OSC provides a variety of services to the solar sector including design, development, construction and commercial and technical operation and maintenance expertise to mid-sized to larger solar energy projects in the EU and in Ontario (from 250 kW to 40 MW).  While OSC’s presence in Ontario is the result of the new FITs announced by the Government of Ontario effective as of Q4 of 2009, but represents substantial opportunity for Oneworld and OSC and it is anticipated that a number of roof mounted solar projects will be constructed in Ontario in 2010 and 20011 and that a number of larger ground mounted solar projects will be constructed in Ontario in 2011.  OSC is involved with both ground mounted PV solar systems as well as roof mounted PV solar systems.  OSC primarily provides integration services for commercial opportunities.  In addition, OSC’s wholly owned subsidiaries, EII and Elgan, provide design and engineering services solar parks and electrical cabinets for inverters to the solar energy sector in the EU and North America. OSC, OSI and Elgan have combined revenues of approximately €8,000,000 as of December 31, 2009 on a consolidated basis.  Historically OSI and Elgan have succeeded in converting approximately 20% of its pipeline to revenues.

Oneworld has relationships with a number of manufacturers of solar PV modules and inverters that entitle it to preferential pricing on solar modules.  A number of Oneworld’s partners have indicated a very strong interest in setting up a facility in Ontario to assemble solar modules or inverters in order to meet the domestic content rules of the FIT Program under the Green Energy Act. Should any of Oneworld’s partners establish assembly facilities in Ontario, those relationships should give Oneworld the ability to be extremely competitive with respect to solar module and inverter pricing of solar projects for third parties in Ontario. 

Management recognizes that there is room for significant expansion within the ground and roof mounted solar integration business in Germany and other EU countries (such as Ireland, United Kingdom, Slovenia, Italy, France and Spain) as a result of renewable energy policies of many EU countries that are specifically designed to encourage construction of ground and roof mounted systems.  Management sees opportunities to increase revenues by pursuing an expansion strategy into these markets. Management also believes that opportunities for accretive acquisitions in the sector exist.  In addition, management is currently examining opportunities to own and operate solar projects in Italy, Germany, Spain, Czech Republic and Ontario.