Open Energy Corporation Changes Name to Applied Solar, Inc.

Tuesday January 20, 8:00 am ET

Change Reflects New Corporate Strategy to Offer Solar Energy Solutions for Every Rooftop

SAN DIEGO–(BUSINESS WIRE)–Open Energy Corporation (OEGY) announced today that it has changed its name to Applied Solar, Inc. The name change reflects the Company’s new strategy offering innovative solar solutions for every rooftop, including the ability to produce clean solar power, measure and control its usage in order to reduce overall energy demand, as well as offer developers and homeowners the ability to improve the return on investment by gaining the benefits of rooftop solar power systems at little or no upfront cost through a power purchase agreement (PPA).

The Company’s new three-pronged strategy includes the following:

* A complete shift from a manufacturing model to a licensing model in order to more efficiently bring to market the Company’s superior suite of innovative, building-integrated photovoltaic (BIPV) products and technologies. These products are being licensed to world-class manufacturers and distributors and this change will improve margins and streamline the Company’s corporate structure;
* Distributing residential EcoTouch™ Energy Management Systems to meet the growing need to reduce electricity costs by enabling homeowners to both monitor and control their energy usage from the comfort of their homes or remotely; and
* Continued focus on the Company’s Solar Communities™ program (www.solarcommunities.com) pursuant to which Applied Solar will own and operate residential solar systems and sell the energy generated to homeowners through a PPA, improving their return on investment by gaining the benefits of rooftop solar power systems at little or no upfront cost to the developer or homeowner.

“We executed this name change to make it clear to our stockholders, business partners and customers that we are focused on and committed to offering a full suite of solar solutions in a business model that we believe best leverages our core competencies,” said David Field, president and CEO of Applied Solar. “Our decision to focus on innovative residential and commercial solar products reflects our ability to be at the forefront of industry trends and quickly capitalize on market opportunities. In addition, we have added our EcoTouch™ System technology and Solar Communities™ program to our full suite of solar solutions so homeowners can lower their monthly utility bill and receive the appreciated property value of a solar system without incurring significant upfront costs. Developers can meet their design and environmental objectives, and the communities as a whole can lower their carbon footprint.”

Applied Solar has been recognized as a cutting-edge innovator in BIPV application development, having been awarded more than 10 industry awards for design with approximately 1.8MW installed. The Company has gained market penetration with 7 of the top 10 U.S. home builders already utilizing Applied Solar’s residential solar tiles. To reinforce its recent strategic decision to concentrate on research and development, in November and December 2008 the Company signed exclusive manufacturing, global distribution and marketing agreements with an affiliate of Suntech Power Holdings Co., Ltd. (STP), a leading manufacturer of photovoltaic (PV) modules for Applied Solar’s BIPV products. These agreements complement the Company’s long-standing distribution relationship with Eagle Roofing Products in the U.S., which has resulted in Applied Solar’s SolarSave® BIPV product being installed on hundreds of tract, retrofit, custom, multifamily, and commercial projects throughout North America. Combined, these two relationships provide Applied Solar with unmatched manufacturing capabilities and a worldwide distribution network, with particular strength in Europe and Asia, as well as the U.S.

Suntech Power and Open Energy Sign Solar Roof Membrane Licensing Deal

Monday January 12, 8:00 am ET

Agreement Combines Open Energy’s Design and Innovation with Suntech’s Manufacturing and Marketing Expertise

SAN DIEGO and SAN FRANCISCO, Jan. 12 /PRNewswire-Asia/ — Suntech Power Holdings Co., Ltd. (STP), the world’s largest manufacturer of photovoltaic (PV) modules, and Open Energy Corporation (OEGY), a developer of innovative and elegant building integrated PV (BIPV) products, energy management applications and solar energy solutions, announced that they have entered into an exclusive agreement to license Open Energy’s building integrated solar roof membrane product. Under the terms of this license, Suntech will undertake the worldwide manufacture, distribution, sales and marketing of Open Energy’s lightweight, easily-installable solar membrane product. This agreement complements Suntech’s industry-leading solar products with Open Energy’s innovative BIPV applications to provide a complete set of product offerings to the residential and commercial market.

The frameless flat roof membrane will be marketed by Suntech under the SolarEze(TM) brand that highlights its ease of installation even over existing roofs with no structural reinforcement typically required. It is light weight yet provides a water proof, hail and wind resistant solar roof with no penetrations. It will be manufactured by Suntech meeting the highest quality standards. Suntech is currently evaluating distribution alternatives and evaluating sales channels in every region of the world.

“This strategic decision will allow us to focus on the core competencies of our business — our award-winning and innovative product and applications design for next generation products. We chose to work with Suntech because they have world class, high quality manufacturing and a worldwide sales capability and distribution network. They also offer a solid foundation of resources and customers. They provide unmatched scope, scale and global reach in the growing solar industry,” said David Field, president & chief executive officer of Open Energy.

“Open Energy’s product fits well within our line of solar roofing products adding an excellent easy to install solar roof membrane that is ideal for commercial flat roofs, said Leonard May, Suntech’s Managing Director of BIPV Products. “By combining Open Energy’s innovative designs with Suntech’s leadership in quality manufacturing, marketing and sales, we are confident that we will consistently deliver innovative products, the highest quality and outstanding value to our customers capitalizing on the strengths of both companies.”

Suntech Power and Open Energy Sign Solar Roof Tile Licensing Deal

Tuesday December 9, 9:00 am ET

License Agreement Combines Open Energy’s Award-Winning Design and Innovation with Suntech’s Manufacturing and Marketing Expertise

SAN DIEGO and SAN FRANCISCO, Dec. 9 /PRNewswire-Asia/ — Suntech Power Holdings Co., Ltd. (STP), a leading manufacturer of photovoltaic (PV) modules, and Open Energy Corporation (OEGY), a developer of innovative and elegant BIPV products, energy management applications and solar energy solutions announced that they have entered into an exclusive agreement licensing the worldwide manufacture, distribution and marketing of Open Energy’s building integrated solar roof tile product to Suntech. Open Energy granted Suntech an exclusive license of the intellectual property incorporated into its solar roof tile product and any similar or new generation tile roof products. The solar roof tiles are 50 watt four foot BIPV tiles and are available in different color panels.

“The relationship with Suntech gives Open Energy access to unmatched manufacturing capabilities and a worldwide distribution network, with particular strength in Europe and Asia,” said David Field, president & chief executive officer of Open Energy. “This allows us to reach even more international customers and gives us the opportunity to concentrate on our award-winning and innovative product design for next generation products. As the solar industry continues to grow in 2009 particularly in Europe, where BIPV solar systems enjoy substantial market premiums, it will be critical to have the reach and scale that the relationship with Suntech brings to our company. We chose to work with Suntech because they have world class manufacturing, an incredible sales force and a solid foundation of resources and customers.”

“Open Energy is widely recognized for designing innovative, award-winning solar solutions, while Suntech is a world leader in manufacturing, marketing and sales of solar products,” said Leonard May, Suntech Managing Director of BIPV Products. “By combining these core strengths, we are confident that we will consistently deliver innovative products, the highest quality and outstanding value to our customers capitalizing on the strengths of both companies.”

Eagle Roofing Products is expected to continue as master distributor of the tile product in the U.S.

About Open Energy

Open Energy Corporation is a next-generation solar energy company that develops clean energy solutions, innovative solar products and energy management applications. Open Energy’s award-winning products include proprietary, cost-competitive and attractive BIPV solar tiles, membranes and asphalt/composition products. In addition, the EcoTouch Energy Management System gives consumers control over their energy usage while saving money. Open Energy’s portfolio of products and services are coupled with innovative financing to enable green Solar Communities to provide low-cost power with little to no upfront cost to the consumer. Open Energy is headquartered in Solana Beach, California. For more information, visit http://www.openenergycorp.com .

Open Energy Corporation’s SolarSave(R) Architectural PV Glass Manufactured by Suntech to Help Power New California Academy of Sciences Building, Largest “Green” Museum Ever Constructed

Thursday September 25, 8:00 am ET

Open Energy System to Help Academy Achieve LEED Platinum Status

SOLANA BEACH, Calif.–(BUSINESS WIRE)–Open Energy Corporation (OEGY), a renewable energy company focused on delivering building integrated photovoltaic solutions, today announced that it has completed its largest solar electric installation for the new California Academy of Sciences in Golden Gate Park, San Francisco, California. Designed especially for the Academy by Open Energy and manufactured by Suntech Power Holdings Co., Ltd. (STP), one of the world’s leading manufacturers of photovoltaic (PV) cells and modules, the project features 720 4 x 6 foot glass panels embedded with photovoltaic cells. The panels will be arranged in a solar canopy around the Academy’s 197,000 square foot roof and will be one of the largest photovoltaic glass canopies in the United States The solar installation will be a key factor in the Academy’s attempt to achieve LEED Platinum certification (Leadership in Energy and Environmental Design) from the U. S. Green Building Council. The museum was designed by Pritzker Prize-winning architect Renzo Piano, and is scheduled to open on September 27, 2008.

“The California Academy of Sciences will be one of the greenest museums ever constructed, and our goal is to achieve LEED Platinum certification,” said Ari Harding, the Building Management Systems specialist at the Academy. “The Open Energy solar panels are important in helping us reach that goal, since energy efficiency is one of the criteria on which the building will be judged.”

The solar energy panels will complement the design of the Academy, forming a decorative rim around the building’s 197,000 square foot living roof, which is home to 1.7 million native plants. The Starphire® Ultra Clear Glass for the project was provided by PPG Industries. The solar cells will generate 213,000 kilowatt-hours of energy per year, providing up to 10 percent of the Academy’s electricity need and preventing the release of 405,000 pounds of greenhouse gas emissions into the air. The system is already in the operational phase and has provided approximately 850 kilowatt-hours of energy per day for the last month.

David Field, President of Open Energy, added, “We are proud that innovative designers, architects, builders and institutions such as the California Academy of Sciences have selected Open Energy as their photovoltaic solution provider. We believe that Renzo Piano’s inspiring architecture and commitment to environmentally superior design is a testament to not only the energy efficiency of our systems, but our ability to tailor a solar energy solution to meet each customer’s unique structural, aesthetic and performance requirements.”

The Open Energy solar solution for the California Academy of Sciences was installed by PermaSteelisa, the company’s glass façade partner.

About Open Energy

Open Energy is a renewable energy company focused on development and commercialization of a portfolio of solar technologies capable of delivering power and related commodities on a global basis. Open Energy offers award-winning, building-integrated photovoltaic (PV) roofing systems for residential, commercial and industrial applications. Marketed under the trade name SolarSave®, the product line includes PV tiles, roofing membranes, and custom architectural glass panels, as well as integrated inverters and web-based monitoring systems. The Company’s mission is to harness the power of the sun to deliver complete renewable energy solutions to its customers. For more information on Open Energy, please visit www.openenergycorp.com.