Solar Integrated Signs New Multi-Year Supply And Cooperation Agreement With United Solar Ovonic

London, UK and Los Angeles, California, May 12, 2008 – Solar Integrated Technologies, Inc. (AIM:SIT.LN), a leading provider of building integrated photovoltaic (BIPV) roofing systems, today announces that it has entered into a new multi-year supply and cooperation agreement with United Solar Ovonic LLC, a wholly owned subsidiary of Energy Conversion Devices, Inc. (ECD) (NASDAQ:ENER).  United Solar Ovonic has been a long-standing supplier of flexible thin-film amorphous photovoltaic laminates to Solar Integrated, most recently under a supply agreement signed in 2006 that contemplated the purchase of up to 100 MW of UNI-SOLAR® photovoltaic laminates through 2010.  This new supply agreement expands the scope and supply of UNI-SOLAR® photovoltaic laminates significantly beyond 100 MW and extends the term through December 31, 2012 on a “take or pay” basis.

The parties have also agreed to collaborate to further reduce product cost over the term of the agreement.  Under the agreement, Solar Integrated retains certain limited exclusivity rights in the North American market for its BIPV application. 

“This strategic supply agreement will allow us to focus on profitably growing our business with the confidence of long-term critical supply of the world’s leading flexible thin-film photovoltaic laminates,” stated R. Randall MacEwen, President & CEO of Solar Integrated.  “Our customers are increasingly interested in larger projects and long-term supply arrangements.  With the forward visibility we now have on supply and pricing of UNI-SOLAR® photovoltaic laminates – our key input cost – we are now better positioned to meet the high demand for our integrated solutions with a lower risk profile to the Company.”

"We have a long-standing relationship with Solar Integrated and are pleased to be extending it through this new agreement," said Mark Morelli, ECD's president and chief executive officer.  "Solar Integrated leverages the unique characteristics of our UNI-SOLAR® laminates in its roofing solutions to become a leader in the commercial BIPV segment.  We look forward to continuing to work with Solar Integrated in the future."

Randall MacEwen continued:  “By integrating UNI-SOLAR® photovoltaic laminates into our BIPV roofing system, we offer our target customers a highly differentiated product that meets their financial, energy, environmental and roofing needs.  We continue to be impressed with the high quality and reliability of UNI-SOLAR® photovoltaic laminates, as well as the ability of United Solar Ovonic to successfully ramp its production operations.”

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 non-residential, low-slope rooftops.  We are a leader in the development of an innovative and proprietary BIPV roofing system that combines flexible thin-film solar modules with single-ply roofing membrane for large-scale commercial and industrial applications.  Our BIPV roofing system enables our customers to transform a traditional rooftop into a value-generating asset. 

Our proprietary ‘no compromise’ approach for solar roofing is fundamental to our vision of BIPV solutions.  Unlike typical after-market solar panel providers, we provide an integrated BIPV roofing system that meets the customer’s financial, energy, environmental and roofing requirements.  Our lightweight, flexible and durable product typically forms the top layer of the customer’s roof with no additional roofing penetrations, thereby preserving the roof’s structural integrity and aesthetics, while also delivering the full benefits from electricity generation through clean, secure sunlight.
Our customers include Audi, Carrefour, Coca-Cola Enterprises, Frito-Lay, Honeywell, IKEA, Metro, ProLogis, San Diego Unified School District, Tesco, Toyota, Unibail-Rodamco, UPC Solar, U.S. Air Force, U.S. GSA, U.S. Navy, Wal-Mart and Westfield.  In 2007, Solar Integrated completed 9.1MW of projects.  

About United Solar Ovonic:
United Solar Ovonic, a subsidiary of Energy Conversion Devices, Inc. (NASDAQ: ENER), manufactures and sells thin-film solar laminates that convert sunlight to energy using proprietary technology. Distributed globally under the UNI-SOLAR® brand, the company's products are ideally suited for cost-effective solar roofing solutions because they are lightweight, durable, flexible, can be integrated directly with building materials, and generate more energy in real-world conditions. For more information, please visit www.uni-solar.com and www.ovonic.com .

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Solar Integrated Investor Contacts:


Solar Integrated Technologies, Inc
R. Randall MacEwen
President & Chief Executive Officer
 Los Angeles, California, USA
+1.562.299.0136

Solar Integrated Technologies, Inc
John M. Palumbo
Chief Financial Officer
Los Angeles, California, USA
+1.562.299.0121

 

 

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Solar Integrated Media Contacts:
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Thinking Integrated. Building Integrated.
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