ROCHESTER HILLS, Mich., July 28, 2010 (GLOBE NEWSWIRE) -- United Solar, a leading global manufacturer of building-integrated and rooftop photovoltaics under its UNI-SOLAR® brand – and a wholly owned subsidiary of Energy Conversion Devices (Nasdaq:ENER) – announced that its innovative PowerTilt™ solar roof system was recently installed at Hagebaumarkt, a German DIY retail franchise located in Kleve. This project represents another example of United Solar's penetration into the BAPV segment.
"We're committed to providing world-class solutions for the BAPV market that are flexible, cost-effective and easy to install," said Mark Morelli, President and CEO of United Solar's parent company, Energy Conversion Devices. "Advanced technology solutions like PowerTilt™ will help drive our growth in this exciting market segment."
As the lightest rack-mounted solar system currently available in the marketplace, PowerTilt™ offers unique product attributes, including a lightweight, durable structure, ease of installation with no roof penetrations and lower levelized cost of electricity (LCOE). In the case of Hagebaumarkt, UNI-SOLAR's PowerTilt™ solar roof system was directly welded and secured to the roof without penetrations to the roof deck.
About Energy Conversion Devices/United Solar
Energy Conversion Devices (ECD) (Nasdaq:ENER) is a leader in building-integrated and rooftop photovoltaics. The company manufactures, sells and installs 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. Through its Solar Integrated Technologies business, the company also designs, manufactures and installs rooftop photovoltaic systems, which enable customers to transform unused space on the rooftop into a value-generating asset. In addition, ECD's Ovonic Materials Division is the pioneer in NiMH battery technology, and is developing low cost fuel cells, hydrogen production from bioreformation, and hydrogen storage technologies. 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 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 product. 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.