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SOLAR INTEGRATED WINS U.S.$13 MILLION CONTRACT FROM TESCO USA TO INSTALL WORLD’S LARGEST SOLAR ROOFING SYSTEM
London, UK, and Los Angeles, California, January 19, 2007 – Solar Integrated Technologies, Inc. (AIM:SIT.LN), a leading provider of building integrated photovoltaic (BIPV) roofing systems, announced today that it has won a U.S.$13 million contract from Tesco, the fourth-largest retail chain in the world, for a 2 MW BIPV roofing system to be installed at Tesco USA’s distribution center under construction in Riverside, California.
“We believe this will be the largest roof-mounted solar installation in the world,” stated R. Randall MacEwen, Solar Integrated’s President and Chief Executive Officer. “We are thrilled to partner with Tesco USA on their exciting entry into the U.S. market. Tesco has a strong commitment to being a leader in helping to create a low carbon economy. Our BIPV roofing system at this distribution center will produce over 2.6 million kilowatt hours per annum, provide a fifth of the depot’s power supply, and save 1,200 tons of carbon dioxide emissions each year.”
Customers like Tesco are looking for ways to measure and reduce greenhouse gas emissions. Solar Integrated’s proprietary Renewable Energy Management software system empowers our customers to measure this increasingly important metric.
“We continue to target customers that have a portfolio of flat buildings and a commitment to creating a low carbon economy,” stated Rob Campbell, Executive Vice President, Sales & Marketing of Solar Integrated. “We are very impressed with the environmental leadership shown by Tesco and look forward to working with Tesco on future opportunities.”
The 2 MW of Solar Integrated’s innovative BIPV roofing system will be installed on two of the five distribution center buildings and will cover 500,000 square feet of the 640,000 square footage of roof space. The project is expected to be completed in 2007.
About Tesco:
Tesco was founded in London in 1919 by Jack Cohen and started as a market stall, with the first store opening in 1929. Tesco has grown to be one of the world’s leading international retailers, expanding into 11 different markets and numerous different formats. With over 2,800 stores, Tesco employs over 370,000 people in its businesses around the world. Tesco’s remarkable success is due in part to delivering a consistently strong customer offer on every visit and every transaction by focusing on Tesco’s core purpose: to create value for customers and earn their lifetime loyalty. Further information on Tesco can be found at www.tesco.com/corporateinfo.
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 global leader in the development of an innovative and proprietary BIPV roofing system that combines flexible thin-film solar modules with a 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 customers include Coca-Cola Enterprises, Frito-Lay, Honeywell, ProLogis, San Diego Unified School District, Toyota, U.S. Air Force, U.S. GSA, U.S. Navy and Wal-Mart. For more information, please visit www.solarintegrated.com.
Forward-Looking Statement:
This release includes forward-looking statements which are based on certain assumptions and reflect management’s current expectations as contemplated under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: the availability and cost of capital; uncertainty as to whether our strategies, partnerships and business plans will yield the expected benefits; general global economic conditions; general industry and market conditions and growth rates; increasing competition; the ability to identify, develop and achieve commercial success for new products, services and technologies; changes in technology; changes in laws and regulations, including government incentive programs; intellectual property rights; our ability to secure and maintain strategic relationships, including key supply relationships; and the availability of, and our ability to retain, key personnel. Additional factors are discussed in our public disclosure materials from time to time. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
Investor Contacts:
Solar Integrated Technologies, Inc. Solar Integrated Technologies, Inc.
R. Randall MacEwen John M. Palumbo
President & Chief Executive Officer Chief Financial Officer
Los Angeles, California, USA Los Angeles, California, USA
+1.562.299.0136 +1.562.299.0121
Media Contacts:
Gavin Anderson & Company
Ken Cronin or Deborah Walter
London, UK
+44.20.7554.1400
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