ROCHESTER HILLS, Mich., March 31, 2010 (GLOBE NEWSWIRE) -- Energy Conversion Devices, Inc. (ECD) (Nasdaq:ENER) today announced that its UNI-SOLAR® brand light weight thin film photovoltaic laminates were used on the new Marcegaglia Casalmaggiore photovoltaic (PV) power station. This is one of the largest rooftop solar installations in Italy and has a capacity of 2.1 megawatts, enough energy to power 800 houses with a savings of 1113 tons on CO2 annually.
Mark Morelli, ECD's president and CEO, said, "We were pleased to work with Marcegaglia on this large-scale project and the Brollo Solar product was an excellent fit for the low-pitch industrial rooftop. It integrates UNI-SOLAR laminates into Marcegaglia's corrugated insulated panel and provides the functionality of an insulated roof with a fully integrated solar solution that is installed in one simple step, saving both time and money and providing an excellent cost/revenue ratio for the system owner."
About the Marcegaglia Group
The core business of the Marcegaglia Group, wholly owned by the family of the same name, is steel processing. With 6,500 employees and 50 manufacturing plants in Italy, Europe, the Americas and Asia, it operates in markets around the world. As part of its diversified activities, Marcegaglia Energy is the business unit devoted to generating electricity from renewable resources. It has been operating since 1995 in power generation from biomass and refuse- derived fuel (Euro Energy Group). In 2006 it introduced photovoltaic technologies: with Arendi in the area of thin-film on glass substrates and with Marcegaglia Buildtech for flexible thin-film systems.
About Energy Conversion Devices
Energy Conversion Devices, Inc. is the leader in building integrated and commercial rooftop photovoltaics, one of the fastest growing segments of the solar power industry. The company manufactures and sells thin-film solar laminates that convert sunlight to energy using proprietary technology. ECD's UNI-SOLAR® brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. ECD also pioneers other alternative technologies, including a new type of nonvolatile digital memory technology that is significantly faster, less expensive, and ideal for use in a variety of applications including cell phones, digital cameras and personal computers. For more information, please visit www.energyconversiondevices.com.
This release may contain forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Risks that could cause such results to differ include: our ability to successfully integrate the acquisition of Solar Integrated Technologies; our ability to maintain our customer relationships; the worldwide demand for electricity and the market for solar energy; the supply and price of components and raw materials for our products; and our customers' ability to access the capital needed to finance the purchase of our products. The risk factors identified in the ECD filings with the Securities and Exchange Commission, including the company's most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, could impact any forward-looking statements contained in this release.