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SOLANA BEACH, CA, Jul 02, 2007 (MARKET WIRE via COMTEX News Network) -- Open Energy Corp. (OTCBB: OEGY), a renewable energy company focused on providing solar solutions to its residential and commercial customers, today announced a $4.21 million dollar purchase order for SolarSave(R) PV Tiles from SolarPro International, a solar integrator based in Sacramento, California. Open Energy's building integrated PV tiles will be installed on approximately 375 new single-family residences in the Placer County development.
Homes will be equipped with 2-kilowatt rooftop systems, representing about half of the total electrical requirements of each property. The remainder of the rooftops will be surfaced with Eagle Roofing's cement tile products. Homes are currently under construction, with build-out of the projects expected to occur over the next thirty-six months.
David Saltman, CEO of Open Energy, announced: "Kevin Boedecker and his team at SolarPro have done a phenomenal job designing this project and convincing the developer that our SolarSave(R) PV Tiles can help them market properties, as well as generate significant utility savings for their homeowners. We look forward to accelerating our sales through this important channel."
Kevin Boedecker, President of SolarPro, commented, "I have been working in the solar industry since 1980, and there has never been this level of interest in residential and commercial systems. The economic feasibility and environmental benefits of renewable energy are generating a great deal of activity. The big commercial builders recognize the value proposition of going solar and are embracing the technology in a number of their projects. It is an exciting time to be in this business."
About Open Energy (OTCBB: OEGY)
Open Energy Corporation is a renewable energy company focused on the development and commercialization of a portfolio of technologies capable of delivering cost-competitive electricity, fresh water and related commodities on a global basis. Open Energy offers building-integrated photovoltaic (PV) roofing materials for commercial, industrial, and residential customers. Marketed under the trade name SolarSave(R), the product line includes roofing membranes, roofing tiles, custom architectural PV glass, and balance of systems equipment. The Company also holds an exclusive, worldwide license to a solar thermal technology called SunCone(TM) CSP (Concentrating Solar Power). The company's mission is to enhance life by harnessing the power of the sun. For more information on Open Energy Corporation, please visit www.openenergycorp.com.
About SolarPro
SolarPro Energy International has been designing and installing photovoltaic, solar thermal and wind systems throughout the western US for over 25 years. They offer a complete line of commercial and residential solar energy solutions, including on and off grid systems, consulting, design engineering, sales installation, and service. As a complete, turnkey operator, they support permitting, grid interconnectivity, and rebate processing. SolarPro also manufactures and distributes their patented SolarMaxx solar pool heating systems, and Solamatic solar hot water systems. For more information on SolarPro, please visit their website at www.getsolarized.com.
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 execution of definitive agreements related to the transactions described within this release, the ability of either or both parties to perform under such definitive agreements, either company's 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.
CONTACT: Open Energy Corporation Investor Relations Boundary Point Investor Relations Brad Long P: 866-469-3649 blong*openenergycorp.com
Public Relations Open Energy Corporation Songul Atacan P: 858-794-8800 satacan*openenergycorp.com
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