North Coast Solar Stocks

January 12, 2009

Suntech Power and Open Energy Sign Solar Roof Membrane Licensing Deal

Filed under: OEGY, STP — Tags: , , , — Jason @ 8:00 am

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.”

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