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SOLAR INTEGRATED WINS ORDERS FROM OPCIÓNDOS FOR TWO UNIBAIL-RODAMCO SHOPPING CENTERS IN SPAIN
London, UK, and Los Angeles, California, July 26, 2007 – Solar Integrated Technologies, Inc. (AIM:SIT.LN), a leading provider of building integrated photovoltaic (BIPV) roofing systems,
announced today that it has won two orders from OpciónDos Energía Natural, S.L., a Spanish solar integrator, for the sale of BIPV roofing systems to be installed at two shopping centers owned by Rodamco Europe N.V., the largest owner-manager of retail properties in Europe. Solar Integrated will provide BIPV roofing systems for Rodamco Spain’s Equinoccio Shopping Center in Madrid and Los Arcos Shopping Center in Seville. These sales by Solar Integrated aggregate $0.9 million in revenue and will be completed in the second half of 2007.
"Unibail-Rodamco is the leading Pan-European commercial property company, with a property portfolio valued at €21.7 billion," stated R. Randall MacEwen, President & CEO of Solar Integrated. "They have a high quality portfolio in 14 countries including Spain and France, two of our target solar markets. With a commitment to environmental sustainability, Unibail-Rodamco is an attractive end customer for our solar roofing products."
Gregory S. Lukens, co-founder and co-General Manager of OpciónDos Energía Natural, S.L. stated: "We see exciting opportunities for Solar Integrated’s unique BIPV product in the Spanish solar market. These initial Rodamco projects represent the start of our relationship with Solar Integrated, and we look forward to future additional projects with them."
Bart Van Ouytsel, Vice President, European Sales and Marketing, stated: "We continue to see solid growth prospects for our BIPV applications in select European markets, including Spain. We are pleased to have been chosen by OpciónDos for these initial Rodamco projects. We view OpciónDos as one of our strong channels to market in Spain."
Enrique Pérez Abad, Projects, Maintenance & Purchasing Manager of Unibail-Rodamco in Spain, stated: "This new investment in photovoltaic reinforces Unibail-Rodamco’s commitment of working in our sustainability program with respect for the environment. With these two new projects, we now have three shopping centers with planned photovoltaic systems, including at La Vaguada Shopping Center in Madrid. Before the new year, we plan to add solar projects in other shopping centers such as Vallsur (Valladolid), Equinoccio (Madrid), Barnasud (Barcelona), Los Arcos (Sevilla) and Bonaire (Valencia)."
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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