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SOLAR INTEGRATED WINS INITIAL ORDER FOR CARREFOUR GROUP: Continued Penetration in Attractive French Solar Market
London, UK, and Los Angeles, California, July 24, 2007 – Solar Integrated Technologies, Inc. (AIM:SIT.LN), a leading provider of building integrated photovoltaic (BIPV) roofing systems,
announced today that it has won through its French partner Urbasolar a first order for a BIPV roofing system to be installed at a Carrefour Group distribution facility under construction in Nimes, France. The project is being managed by Urbasolar, a turn-key PV engineering company based in Montpellier, France. The project is expected to be completed in 2007.
"With 2006 revenue of about €97 billion, and more than 12,500 stores in 29 countries covering more than 15 million square meters of sales area, Carrefour Group is the second largest retailer in the world and the largest in Europe," stated R. Randall MacEwen, President & CEO of Solar Integrated. "We are particularly interested in Carrefour Group's strong ‘hyper market' position in Europe where they are the leading grocery chain with 218 large ‘hyper market' stores. Carrefour Group's strong French position aligns well with France's premium feed-in tariff of €0.55 per kWh for single layer BIPV systems. With our unique BIPV product and a strong local partner in Urbasolar, we continue to view France as an attractive market, and Carrefour Group as an attractive target customer for repeat business".
The Carrefour Group commented: "The Carrefour Group is committed to environmental respect, including the reduction of greenhouse gases. One of the guiding principles of our environmental policy is to reduce environmental impacts related to construction and operation of stores. With the premium French feed-in tariff for BIPV applications and our ‘hyper market' position, this is a logical ‘sweet spot' for us to consider additional solar projects."
Stephanie Giraud, CEO of Urbasolar stated, "With Solar Integrated's BIPV product, we have been developing an innovative product perfectly designed for BIPV project and for the French market We continue to work closely with Solar Integrated to rapidly sell and deploy BIPV projects across France."
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 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, Tesco, Toyota, U.S. Air Force, U.S. GSA, U.S. Navy, Wal-Mart and Westfield.
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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