North Coast Solar Stocks

December 9, 2008

Suntech Power and Open Energy Sign Solar Roof Tile Licensing Deal

Filed under: OEGY, STP — Tags: , , , — Jason @ 9:00 am

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 .

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