Akeena Solar Signs Manufacturing Partnership with Kyocera
Kyocera to Deliver 1.6 MW of Andalay Solar Panels
LOS GATOS, CA -- March 13, 2008 -- Akeena Solar, Inc. (NASDAQ: AKNS), a leading designer and installer of solar power systems, and Kyocera Solar Inc., one of the world’s largest producers and suppliers of solar energy products, have announced a strategic partnership to manufacture Andalay solar panels. Under the agreement Kyocera will manufacture Andalay solar panels utilizing Kyocera’s high efficiency solar cells and will deliver 1.6 MW of panels to Akeena during 2008. Kyocera has also been named Akeena’s preferred supplier for its commercial business.
Andalay is the brand name for Akeena Solar’s proprietary solar panel technology. Unlike ordinary solar panels, Andalay panels feature built-in racking, wiring and grounding. Andalay panels attach directly to the roof with a minimum of roof penetrations and provide customers with a better looking and more reliable solar system. Moreover, an installed Andalay system uses 70 percent fewer parts and requires 25 percent fewer attachment points than ordinary solar panels, providing better long-term performance.
“This agreement marks an important expansion of our strategy as we transition to Andalay installations in 2008,” said Barry Cinnamon, chief executive officer of Akeena Solar. ”Kyocera has been an Akeena partner since 2001 and we are pleased to add them as one of our two suppliers of Andalay panels.
“Kyocera has an outstanding reputation for quality in the solar industry. Their understanding of the performance and reliability of Andalay solar panels is another validation of our technology’s benefits to customers,” added Cinnamon.
“We look forward to this next phase of our partnership with Akeena Solar. The Andalay solution is a distinctive approach for delivering high performance solar solutions that will be powered by Kyocera’s innovative cell technology,” stated Steve Hill, president of Kyocera Solar, Inc. “In response to growing demand, such as Akeena’s, this partnership also leverages Kyocera’s plans to expand its annual solar module manufacturing capacity to 500 MW by 2011.”
About Akeena Solar, Inc. (NASDAQ: AKNS)
Founded in 2001, Akeena Solar's 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 installers of residential and commercial solar power systems in the United States. The company’s new integrated solar panel system, Andalay, is the only solar panel system with integrated racking, wiring and grounding. Andalay panels offer unprecedented reliability, performance and aesthetics. For more information, visit Akeena Solar's website at www.akeena.com
Kyocera Solar, Inc. (http://www.kyocerasolar.com) is a world-leading supplier of environmentally sound, solar electric energy solutions. With operating headquarters in Scottsdale, Ariz. and regional sales centers in the U.S., Brazil and Australia, Kyocera Solar, Inc. serves thousands of customers in both developed and developing regions. The company is a wholly-owned subsidiary of Kyocera International, Inc. of San Diego, the North American headquarters and holding company for Kyoto, Japan-based Kyocera Corporation.
Kyocera Corporation (NYSE: KYO / http://www.kyocera.com), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of advanced ceramics. By combining these engineered materials with metals and plastics, and integrating them with other technologies, Kyocera Corporation has become a leading supplier of solar energy systems, telecommunications equipment, semiconductor packages, electronic components, laser printers, copiers and industrial ceramics. During the year ended March 31, 2006, the company’s net sales totaled 1.18 trillion yen (approximately $10 billion).
Statements made in this release that are not historical in nature constitute forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “expects,” “plans” “will,” “may,” “anticipates,” believes,” “should,” “intends,” “estimates,” and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, the effectiveness, profitability, and marketability of such products, the ability to protect proprietary information, the impact of current, pending, or future legislation and regulation on the industry, the impact of competitive products or pricing, technological changes, the ability to identify and successfully acquire, integrate and manage client accounts and locations and deliver our services to customers of businesses and accounts acquired from third parties, the effect of general economic and business conditions. All forward-looking statements included in this release are made as of the date of this press release, and Akeena Solar assumes no obligation to update any such forward-looking statements