Energy Conversion Devices: Supply Agreement With EnergyPeak
Energy Conversion Devices, Inc., a manufacturer of proprietary, thin-film amorphous silicon-based photovoltaic (PV) laminates, announced that it has extended its supply agreement with EnergyPeak. EnergyPeak expects to continue its aggressive growth rate and purchase up to 12MW of UNI-SOLAR® laminates from ECD through the end of 2011. These laminates will be incorporated into building-integrated photovoltaic systems on standing seam metal commercial roofs.
"EnergyPeak is an excellent partner for ECD, and we are working together to drive UNI-SOLAR sales through a network of approximately 30 metal roofing providers who are experts in rooftop installations. EnergyPeak's innovative metal roofing products incorporating our laminates are helping to promote the adoption of solar rooftop solutions across the United States," said Mark Morelli, president and CEO of Energy Conversion Devices.
EnergyPeak will integrate UNI-SOLAR brand PV laminates into building-integrated PV (BIPV) systems in standing seam metal commercial rooftop applications. The result is a practical solar roofing option that can be specified, bid, and installed with minimal effort and investment. PV laminates are applied in the factory and arrive at the project site already integrated into the roof. Once installed, the building immediately benefits from the solar roofing system and can begin immediately to offset its energy consumption. The pre-designed, affordable and highly efficient solar roofing systems are now readily available to owners and architects through a variety of EnergyPeak providers comprised of nationwide standing seam manufacturers.
"Since our original agreement with ECD in 2007, we have been very successful in establishing BIPV standards for standing seam metal roofs," said Rick Mowrey, president of EnergyPeak. "We have been very pleased with our relationship with ECD, and the quality and output of the UNI-SOLAR laminates. We look forward to continuing to work together to provide leading solutions that incorporate PV technology into standing seam metal roofing."
EnergyPeak was formed by CENTRIA Services Group, in partnership with United Solar, in 2007 with the goals of advancing the efficient and affordable integration of solar technology with standing seam metal roofing, and promoting the adoption of building integrated photovoltaic solar standing seam on behalf of the entire standing seam industry. As a result of EnergyPeak, standardized, affordable and highly efficient solar roofing is now readily available to owners and architects through EnergyPeak providers. These providers are comprised of nationwide standing seam manufacturers.
About CENTRIA Services Group:
Based in Pittsburgh (Moon Township, Penn.), CENTRIA Services Group is a division of CENTRIA, an international company and a leading U.S. supplier of architectural metal wall and roofing systems used in commercial/industrial projects. Since 1906, CENTRIA professionals have provided quality products and services for architectural and construction firms worldwide. For more information about CENTRIA call 412-299-8218 or visit www.CENTRIA.com.
About Energy Conversion Devices
Energy Conversion Devices, Inc. (ECD) (NASDAQ: ENER) 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. ECD also pioneers other alternative technologies, including a new type of nonvolatile digital memory technology that is significantly faster, less expensive, and ideal for use in a variety of applications including cell phones, digital cameras and personal computers. For more information, please visit www.ovonic.com.
This release may contain forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Risks that could cause such results to differ include: our ability to sustain profitability; our ability to maintain our customer relationships; our ability to expand our manufacturing capacity in a timely and cost-effective manner; the worldwide demand for electricity and the market for solar energy; the supply and price of components and raw materials for our products; and our customers' ability to access the capital needed to finance the purchase of our products. The risk factors identified in the ECD filings with the Securities and Exchange Commission, including the company's most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, could impact any forward-looking statements contained in this release.
Energy Conversion Devices/United Solar Ovonic