Contract Win
September 16 2008 - 2:01AM
UK Regulatory
RNS Number : 4951D
Solar Integrated Technologies Inc
16 September 2008
SOLAR INTEGRATED CONTINUES EUROPEAN SALES EXPANSION WITH FIRST PROJECT IN CZECH REPUBLIC
Los Angeles, California and London, UK, September 16, 2008 - Solar Integrated Technologies, Inc. (AIM:SIT.LN), a leading provider of
building integrated photovoltaic (BIPV) roofing systems, today announces that it has been awarded a contract by KOROWATT s.r.o., a pioneer
in bringing photovoltaics to the Czech market, to supply BIPV roofing systems for a warehouse in Kourim, Czech Republic owned by PP-realit
s.r.o. The project will feature 190 kilowatts (kW) of Solar Integrated's proprietary BIPV membrane product on a portion of the warehouse
that is being re-roofed, as well as 72 kW of the Company's recently launched M2* product for metal roofing applications on the remainder of
the warehouse. The project is expected to be completed in 2008.
"This, our first project in the Czech Republic, shows the increasing opportunity for us as we expand our sales into new and exciting
European solar markets," stated R. Randall MacEwen, President & CEO of Solar Integrated. "We continue to broaden our growth exposure while
also reducing our country concentration risk. This was punctuated with the completion of 52 projects in 11 European countries in the first
half of 2008."
Ales Korostensky, managing director of KOROWATT, stated: "This warehouse, in need of partial roof replacement, is a light structure with
limited weight-baring capacity on the roof. Solar Integrated's BIPV membrane and M2* product were the perfect combination of high quality
products which effectively address the solar-electricity generation and environmental objectives without compromising the roofing
structure."
"We are thrilled to partner with KOROWATT, a leader in the emerging PV market in the Czech Republic, on a project that showcases the
breadth of our product portfolio," commented Bart van Ouytsel, Vice President, European Sales & Marketing of Solar Integrated. "Our
strategy is to provide solar roofing solutions that meet the technical and levelized cost of energy requirements for the specific building
and site profile."
The Czech Republic, which typically experiences 1,400 to 1,700 hours of sunshine per year, has a feed-in tariff of EUR0.46 (~US$0.66)
per kWh for 15 years. The Czech Republic has pledged to the EU to produce 8% of electricity from renewable sources by the year 2010.
About Solar Integrated:
Solar Integrated Technologies, Inc. (SIT: AIM.LN) is a Los Angeles-based company that manufactures, designs and installs building
integrated photovoltaic (BIPV) roofing systems for commercial rooftops. Our BIPV roofing systems enable our customers to transform a rooftop
into a value-generating asset. Our customers include Audi, Carrefour, Coca-Cola Enterprises, Frito-Lay, Honeywell, IKEA, Metro, ProLogis,
San Diego Unified School District, Tesco, Toyota, Unibail-Rodamco, UPC Energy, UPC Solar, U.S. Air Force, U.S. GSA, U.S. Navy and Westfield.
For more information, please visit www.solarintegrated.com.
For more information, please contact:
Solar Integrated Investor Contacts:
Solar Integrated Technologies, Solar Integrated Technologies, Inc
Inc John M. Palumbo
R. Randall MacEwen Chief Financial Officer
President & Chief Executive Los Angeles, California, USA
Officer +1.562.299.0121
Los Angeles, California, USA
+1.562.299.0136
Nomura Code Securities Limited Mirabaud Securities Limited
Nominated Adviser and Joint-Broker
Joint-Broker Peter Krens or Kim Richardson
Juliet Thompson or Chris Golden +44.20.7878.3362
+44.20.7776.1200
Solar Integrated Media Contacts:
Pelham Public Relations
Chelsea Hayes or Robert Koh
+44. 20.7743.6675
Thinking Integrated. Building Integrated.
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This information is provided by RNS
The company news service from the London Stock Exchange
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