Solar Integrated Strengthens Management Team with
Appointment of Executive Vice President, Corporate Development
Los Angeles, California, September 20, 2005 – Solar
Integrated Technologies, Inc. (AIM: SIT.LN), a leading provider of
building integrated photovoltaic (BIPV) roofing systems, today announced
that R. Randall MacEwen has been appointed Executive Vice President, Corporate
Development, General Counsel and Corporate Secretary of the Company effective
immediately.
“With Solar Integrated entering its next phase of development and
growth, it was fortunate timing that Randy could join us to oversee our
corporate development initiatives,” said Jon W. Slangerup, Chief
Executive Officer of Solar Integrated. “Randy’s previous
successes, including during our tenure together at Stuart Energy, position
him to understand and effectively deal with the pressures, challenges and
changes of growth companies. He has extensive experience in strategic
planning, corporate finance, mergers and acquisitions, joint ventures,
corporate and securities laws, investor relations, corporate governance
and a compelling track record of completing successful deals. I am
very pleased that we were able to attract Randy to our Solar Integrated
team.”
“Joining Solar Integrated was an easy decision for me,” stated
Randall MacEwen. “Solar Integrated is a leader in the most
exciting sector of the emerging alternative energy industry – the
solar sector. The Company is extraordinarily well positioned. It
has the products, partners and management leadership to capture a significant
share of a rapidly expanding global market. I am looking forward
to working with the Solar Integrated team and applying my knowledge and
experience to help the Company meet its goals in both the near and long
term.”
Mr. MacEwen started his career as a corporate lawyer with Torys LLP, a
leading North American business law firm, where he advised on corporate
finance, mergers & acquisitions, and corporate governance matters from
1995 to 2001. Mr. MacEwen joined Stuart Energy Systems Corporation,
an alternative energy company with global market leadership in onsite hydrogen
infrastructure, in October 2001 as Vice President, Corporate Development,
General Counsel and Corporate Secretary. During his tenure with Stuart
Energy, Mr. MacEwen led Stuart Energy’s strategic planning, corporate
finance, mergers & acquisitions, legal, investor relations and human
resources activities. Mr. MacEwen led Stuart Energy’s $120
million initial public offering, its $23 million acquisition of its largest
competitor, based in Belgium, in 2003, its $20 million follow-on public
equity offering in 2004, and its $125 million sale to Hydrogenics Corporation,
a leading fuel cell developer, in January 2005. From January 2005
to July 2005, Mr. MacEwen served as the Vice President, Corporate Development,
General Counsel and Corporate Secretary of Hydrogenics Corporation, co-leading
the integration of Stuart Energy.
About Solar Integrated
Solar Integrated Technologies,
Inc. (AIM: SIT.LN) is a global leader
in the manufacture and development of building integrated photovoltaic
(BIPV) systems for commercial roofing and mobile power applications enabling
the production of reliable, renewable and economic electrical power. Customers
include Coca Cola Enterprises, Frito-Lay, San Diego City Schools and other
municipal and blue chip companies.
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: general global
economic conditions; general industry and market conditions and growth
rates; uncertainty as to whether our strategies and business plans will
yield the expected benefits; increasing competition; availability and
cost of capital; 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; the availability of,
and our ability to retain, key personnel; and the failure of the Company
to effectively integrate acquisitions. 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:
Solar Integrated |
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Jon Slangerup
Chief Executive Officer
Los Angeles, California
+1.323.231.0411 |
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Gavin Anderson & Company |
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Ken Cronin or
Deborah Walter
London
(0)20 7554 1400 |
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