5.2.2007: Meldung: Akeena Solar, Inc.: $2.0 Million Line of Credit

5.2.2007: Meldung: Akeena Solar, Inc.: $2.0 Million Line of Credit

Akeena Solar Announces $2.0 Million Line of Credit
Friday February 2, 8:00 am ET

LOS GATOS, Calif.---Akeena Solar, Inc., a leading designer and installer of solar power systems announced it has secured an accounts receivable based $2.0 million line of credit with Comerica Bank.

Barry Cinnamon, president and CEO of Akeena Solar, stated, "This credit facility increases our working capital and provides additional financial flexibility to take advantage of opportunities in the rapidly growing solar power industry. We will continue expanding into additional markets like Orange County and Fresno, CA. In 2007, we intend to drive growth by further broadening our footprint. Also, we look forward to working with Comerica, a respected and established provider of banking services."

The new facility provides for up to $2.0 million in financing to be used to fund business operations and has an initial term through January of 2008. The credit facility is subject to customary terms and conditions and covenants, including several reporting and non-financial covenants.

About Akeena Solar, Inc.

Founded in 2001, Akeena Solar"s (OTCBB:AKNS - News) philosophy is simple: We believe producing clean electricity directly from the sun is the right thing to do for our environment and economy. Akeena Solar has grown to become one of the largest national integrators of residential and small commercial solar power systems in the United States, serving customers directly in California, New Jersey, New York, Connecticut and Pennsylvania. For more information, visit Akeena Solar"s website at www.akeena.net.


Contact:

Akeena Solar, Inc.
Barry Cinnamon, 888-253-3628
bcinnamon@akeena.net
or
Lippert/Heilshorn & Associates
Kirsten Chapman or Mary Magnani, 415-433-3777
mmagnani@lhai.com

Source: Akeena Solar, Inc.
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