Petersen Dean Places $2.3 Million Purchase Order with Open Energy Corporation for 11,880 SolarSave(R) Roofing TilesTicker Symbol: U:OEGY
SOLANA BEACH, Calif. -- (Business Wire) --
Open Energy Corporation (OTCBB: OEGY) today announced the receipt
of a $2.3 million purchase order for a total of 11,880 SolarSave(R) PV
Tiles and related inverters and other system equipment from Petersen
Dean, one of the largest roofing companies in the United States. Terms
of the order call for the delivery of 400 kilowatts of solar tiles and
related balance of system equipment.
¶ Jim Petersen, CEO of Petersen Dean, stated, "This purchase order
represents, what we believe, will be the first of many orders with
Open Energy. Our mission is to become a premier supplier of building
integrated photoelectric solutions in North America and Open Energy is
the perfect partner to enable us to achieve this goal. We believe that
home owners will recognize the value of safe, clean, affordable power
and we look forward to working with Open Energy to expand this program
through the year, as we strive to achieve our goal of installing over
1,200 residential solar rooftops this year."
¶ David Saltman, Chairman and CEO of Open Energy commented, "We have
repositioned our company over the past six months to be able to
partner with a proven leader in the roofing industry, such as Petersen
Dean. Jim's team has developed the internal installation and service
capabilities to take advantage of the long-term growth expected in the
PV business. In addition, they have built their company by providing
leading commercial builders, superior service and products and we are
pleased they have chosen Open Energy to be one of their partners. Our
building integrated products are designed to be installed simultaneous
with standard roofing tiles, providing cost savings as well as
aesthetic advantages that are superior in our industry."
¶ About Open Energy Corporation
¶ Open Energy Corporation is a renewable energy company focused on
the development and commercialization of a portfolio of solar
technologies capable of delivering cost-competitive power and related
commodities on a global basis. Open Energy offers award-winning,
building-integrated photovoltaic (PV) roofing systems for residential
and commercial customers. Marketed under the trade name SolarSave(R),
the product line includes tiles, membranes, and architectural glass.
SolarSave Integrated Solutions represents Open Energy's bundled,
turn-key solar solution that includes both tile and membrane products,
together with an integrated inverter, web-based monitoring and balance
of system components. In addition to distributing products directly to
Petersen Dean Roofing, Open Energy has a master distributorship with
Eagle Roofing Products, the largest concrete tile manufacturer in the
United States. The Company's mission is to harness the power of the
sun to deliver complete renewable energy solutions to its customers.
For more information on Open Energy Corporation, please visit
www.openenergycorp.com.
¶ About Petersen-Dean Roofing Systems
¶ Petersen-Dean was founded in 1984 and is a full service roofing,
waterproofing and solar energy company. Past projects include casinos,
resorts, high rise buildings, schools, commercial, residential,
industrial, government facilities and public works. Petersen-Dean is
one of the largest privately held roofing firms in the country.
¶ Safe Harbor for Forward Looking Statements
¶ Except for statements of historical fact, the information
presented herein constitutes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual results,
performance or achievements of Open Energy to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include
general economic and business conditions, customer demand for its
products, the failure to perform under or the cancellation of purchase
orders by Open Energy's customers,, , the Company and its vendors
ability to scale up manufacturing to meet demand, and other factors
over which Open Energy has little or no control. Open Energy
undertakes no obligation to update any forward-looking statement as a
result of new information, future events or otherwise, except as
required under applicable law. Contacts: Open Energy Corporation
Investor Relations
Integrated Corporate Relations
John Mills, 310-954-1100
jmills@icrinc.com
or
Open Energy Corporation
Corporate Contact
David P. Saltman, Chairman
858-794-8800
dsaltman@openenergycorp.com
or
Petersen-Dean Roofing Systems
Jim Petersen, President & CEO
510-494-9982
jpetersen@needaroof.com |