Energy Conversion Devices and Enfinity Announce Framework Agreement for Co-Development of Solar Projects
11 5월 2009 - 8:00PM
PR Newswire (US)
ROCHESTER HILLS, Mich., and WAREGEM, Belgium, May 11
/PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. (ECD)
(NASDAQ:ENER) and Enfinity, NV today announced plans to co-develop
a portfolio of rooftop solar installations throughout the U.S., as
well as in numerous European countries, including Belgium, Germany,
France, Italy, Spain and the Czech Republic. ECD and Enfinity have
identified approximately 10 MW of projects that they will
collaborate on in the short term. ECD, through its wholly owned
subsidiary, United Solar Ovonic, will contribute UNI-SOLAR(R) brand
photovoltaic laminates in exchange for equity in the projects.
Enfinity will serve as project manager and lead the financing
efforts for the projects. ECD and Enfinity expect to sell completed
projects to third-party investors within 12 months of the start of
commercial operation. Mark Morelli, ECD's president and CEO, said,
"This Framework Agreement is an example of how we are implementing
our demand-creation strategy. Enfinity is an excellent partner,
with significant experience in developing and installing rooftop
and BIPV applications in our focused geographic markets. We are
enthusiastic about the opportunities that this agreement affords
us, and will be working aggressively with Enfinity to finalize the
projects and begin construction." Gino Van Neer, CEO of Enfinity
stated, "We are pleased to partner with ECD and United Solar in our
development efforts. Their unique photovoltaic laminates not only
produce more energy per rated watt in real-world conditions, they
also are the perfect solution for building-integrated systems where
the integrity of the rooftop is preserved, and in many markets
where the incentives are greater." About Energy Conversion Devices
Energy Conversion Devices, Inc. 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
http://www.ovonic.com/. About Enfinity Enfinity is a rapidly
developing, ambitious and internationally operating company in the
field of solar and wind energy. As a project specialist, Enfinity
develops PV solar plants for electricity generation and is already
active in 12 countries being Belgium, Italy, Spain, France, Greece,
the USA, Canada, Germany, Bulgaria, UAE, China, and Czech Republic.
This number will increase to approximately 20 countries by the end
of 2009. Enfinity is in the process of financing PV projects with a
total capacity of more than 122 MW and is planning to finance
several hundred megawatts through 2010. More information in
http://www.enfinity.biz/. 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; 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. DATASOURCE: Energy Conversion
Devices, Inc. CONTACT: ECD / United Solar Ovonic: Mark Trinske,
Vice President, Investor Relations & Communications,
+1-248-299-6063; or Enfinity Head Office, Jurgen Van Damme, Press
and Communication, Phone +32 5 628 88 88, Mobile +32 473 22 03 01
Web Site: http://www.ovonic.com/
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