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Solar Integrated Moving Ahead To Complete Tesco USA Project In 2007
London, UK, and Los Angeles, California, April 10, 2007 – Solar Integrated Technologies, Inc. (AIM:SIT.LN), a leading provider of building integrated photovoltaic (BIPV) roofing systems, confirmed today that it continues to expect to complete in 2007 its previously announced $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 (known as Fresh and Easy Neighborhood Markets) distribution center in Riverside, California. The distribution center is under construction despite an ongoing legal challenge by Health First, a previously unknown environmental group. Last week, a U.S. District Court judge denied Health First’s motion for an injunction to halt construction pending a trial on the merits of the case scheduled to begin in late August.
“We are moving ahead to complete this exciting project in 2007,” stated R. Randall MacEwen, President & CEO of Solar Integrated. “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.”
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.
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.
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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