Energy Conversion Devices, Inc.: Multi-Year Supply Agreement for Photovoltaic Laminates
Energy Conversion Devices and Mercury Solar Systems Sign Multi-Year Supply Agreement for Photovoltaic Laminates
Rochester Hills, Mich. and New Rochelle, N.Y., Aug. 12, 2009 - Energy Conversion Devices, Inc. (ECD) (NASDAQ: ENER), a manufacturer of proprietary, thin-film amorphous silicon-based photovoltaic (PV) laminates, and Mercury Solar Systems (Mercury), one of the leading solar integrators on the East Coast, today announced that they have signed a multi-year direct supply agreement.
Mark Morelli, ECD's President and CEO, said, "This agreement expands the distribution of our UNI-SOLAR® brand products in eastern United States, a market which we think has a tremendous growth potential. Mercury is an ideal partner given their expansive commercial infrastructure and successful experience in installing our products over the past several years. We look forward to working with them to grow the commercial rooftop solar market on the East Coast."
Under the terms of the agreement, ECD will sell UNI-SOLAR laminates to Mercury, and will provide technical training and aid in the design of future solar PV systems installed by Mercury's team. Mercury will become a direct integrator of ECD's UNI-SOLAR brand products, and expects to purchase approximately 15MW of laminates over the term of the agreement.
Jared Haines, President, Mercury Solar Systems, said, "We have consistently been attracted to UNI-SOLAR products because of their flexibility, light weight, ease of installation, durability, and real-world performance. They offer the highest kWh per kW installed and are great for new roof installations especially in high wind areas." He added, "Our partnership with ECD is just further validation of Mercury's unwavering commitment to provide our customers with the highest quality products at the most affordable prices."
At less than one pound per square foot, UNI-SOLAR laminates are lightweight, nonintrusive and require no rooftop penetrations or mounting systems, eliminating the negative impact on roof life and performance that is associated with penetrating PV systems. Additionally, these thin-film PV laminates provide a solid return on investment through a low installed cost and low cost per-kilowatt-hour of energy produced when compared to the traditional rigid glass panel PV alternatives.
About Energy Conversion Devices
Energy Conversion Devices is the leader in building-integrated and commercial rooftop photovoltaics, one of the fastest growing segments of the solar power industry. The company manufactures and sells thin-film solar laminates that convert sunlight to energy using proprietary technology. ECD's UNI-SOLAR® brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. For more information, please visit www.energyconversiondevices.com.
About Mercury Solar Systems
Mercury Solar Systems is one of the leading solar integrators on the East Coast. The company designs and installs solar electric and solar thermal energy systems for the commercial and residential marketplace and to date has installed hundreds of solar systems totaling several million watts of energy. Mercury Solar Systems is a subsidiary of Mercury Energy (formerly Aquus Energy), a leading provider of solar energy systems throughout the United States, and backed by Oppenheimer & Company. For more information visit www.mercurysolarsystems.com.
For press inquiries, please contact:
Energy Conversion Devices/United Solar Ovonic
Mercury Solar Systems