Science & Technology
Science and Technology
Science and Technology
Tue, January 6, 2009 German Solar Integrator Agrees to Purchase Solar Modules from Solar Power, Inc.
ROSEVILLE, Calif.--([ BUSINESS WIRE ])--[ Solar Power, Inc. ] ("SPI") ([ OTCBB:SOPW ]) has completed its first sale to a prominent German solar integrator of its photovoltaic ("PV") solar modules for use in the integrator's Germany-based installation projects. An initial supply of SPI's 200-watt panels was shipped to the integrator at the end of December 2008. The transaction follows IEC certification in early December 2008 of SPI's family of solar modules by VDE laboratories located in Main, Germany. The IEC certification, similar to a UL listing in the United States, affirms the solar modules' quality and performance characteristics for use in Europe for commercial and residential applications.
"This arrangement is further validation of SPI's global sales and marketing strategy," said Bradley Ferrell, President of SPI's commercial sales division. "Our recent IEC certification and this transaction mark what we believe to be the beginning of important new opportunities for SPI in European markets. Germany is the largest market in the world for solar and we view these two events as major milestones for our company. Through continuous leveraging of our China-based manufacturing operation, which produces high-quality, competitively priced solar modules and balance-of-system components, SPI is strategically positioned to continue to further penetrate new markets and build global market share."
SPI made significant strides in 2008 pursuing its international sales strategy with sales of its modules into Asia. Moreover, U.S. commercial sales of its turnkey systems were robust and included high-profile commercial projects such as the STAPLES Center and Nokia Theatre Live in Los Angeles. In September 2008, SPI was named the Sacramento, California region's fastest growing company by the Sacramento Business Journal.
About Solar Power, Inc.
Founded in 2005, Solar Power, Inc. is a vertically integrated solar energy solution provider offering the North American residential, commercial and public sector building markets a complete solution through a single brand. With a state of the art manufacturing facility in Shenzhen, China, Solar Power, Inc. provides turnkey design-build solutions through its Roseville, California headquarters and a growing retail distribution network.
Safe Harbor Statement:
This release contains certain "forward-looking statements" relating to the business of Solar Power, Inc., its subsidiaries and the solar industry, which can be identified by the use of forward looking terminology such as "believes, expects" or similar expressions. The forward looking statements contained in this press release include statements regarding the Company's ability to execute its growth plan and meet revenue and sales estimates, enter into formal long-term supply agreements, and market acceptance of products and services. These statements involve known and unknown risks and uncertainties, including, but are not limited to, general business conditions, managing growth, and political and other business risk. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.
