UNITED STATES: Akeena Sells 100,000 Shares and Licenses New Solar Panel Technology To Suntech

Akeena Solar Licenses New Solar Panel Technology To Suntech
Akeena Solar announced that its state-of-the-art solar panel technology, Andalay, will be distributed in Europe, Japan and Australia under a license agreement with Suntech Power Holdings. The terms of the Licensing Agreement authorize Suntech to distribute Andalay in Europe, Japan and Australia commencing in January 2008. This Licensing Agreement is in addition to Suntech's previous agreement to manufacture Andalay solar panels.

Andalay solar-panel technology was envisioned by Akeena's CEO, Barry Cinnamon, after years of rooftop solar installation experience and customer feedback. "Andalay improves on conventional solar panels by including built-in wiring, grounding and racking designed to provide maximum rooftop performance for consumers while minimizing installation costs for solar system installers. The result is a rooftop solar power system with superior built-in reliability with outstanding aesthetics in an all-black, streamlined appearance," said Barry Cinnamon.

"Moreover, an installed Andalay system uses 70 percent fewer parts and requires 25 percent fewer attachment points than traditional solar systems, meaning better long-term performance."

Len May, Suntech's Managing Director of BIPV Products, said: "Akeena's new Andalay technology will be a valuable addition to our growing portfolio of solar products and will help keep Suntech on the leading edge of solar technology innovation. Andalay is a significant innovation that directly addresses the need to reduce the cost of solar systems, and we are confident that there will be significant demand for this attractive and high performance solar solution in markets outside of the U.S." Suntech targets sales of over 10MW of the Andalay solar panels to the licensed regions in 2008.

"We welcome this expanded collaboration with Akeena Solar to introduce this lower installed cost solution to international markets," said Dr. Zhengrong Shi, Suntech's Chairman and CEO.

"The innovative Andalay panel is the perfect complement to our product offering and a clear example of Suntech's efforts to support and promote products that bring the industry closer to grid parity. This agreement will leverage Suntech's product development expertise, flexible and low cost manufacturing base, and robust global sales and distribution channels to expand the availability of this important new solar innovation."

"We are delighted Andalay will be available in select countries outside the United States through one of the world's leading manufacturers of solar cells and panels," said Barry Cinnamon.

"Suntech is the natural partner to license this technology given their role in co-developing and manufacturing the product, and their extensive international distribution channels that are among the strongest in the industry. Akeena Solar and Suntech also share a focus on quality and value. We are experiencing very strong demand for Andalay, and this licensing agreement with Suntech will allow us to meet our customer's needs for Andalay outside of our direct channels in the U.S."
Via: SPX/Solardaily

Akeena Solar CEO Sells 100,000 Shares
The chief executive of Akeena Solar Inc., which makes solar-power systems, sold 100,000 shares of stock, according to a Securities and Exchange Commission filing Thursday.

In a Form 4 filed with the SEC, Barry Cinnamon reported he solar the shares for $11.12 apiece on Wednesday.

Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

Via: AOL

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