Akeena Solar Licenses New Solar Panel Technology to Suntech

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Akeena Solar Licenses New Solar Panel Technology to Suntech

Akeena Solar, Inc. (NASDQ: AKNS), a leading designer and installer of solar power systems, announced that its state-of-the-art solar panel technology, Andalay, will be distributed in Europe, Japan and Australia under a license agreement with Suntech Power Holdings Co., Ltd. (NYSE: STP) one of the world's leading manufacturers of photovoltaic (PV) cells and modules.

The terms of the Licensing Agreement authorize Suntech to distribute Andalay in Europe, Japan and Australia commencing in January 2008. This Licensing Agreement is in addition to Suntech’s previous agreement to manufacture Andalay solar panels.

Andalay solar-panel technology was envisioned by Akeena’s CEO, Barry Cinnamon, after years of rooftop solar installation experience and customer feedback. “Andalay improves on conventional solar panels by including built-in wiring, grounding and racking designed to provide maximum rooftop performance for consumers while minimizing installation costs for solar system installers. The result is a rooftop solar power system with superior built-in reliability with outstanding aesthetics in an all-black, streamlined appearance,” said Barry Cinnamon. “Moreover, an installed Andalay system uses 70 percent fewer parts and requires 25 percent fewer attachment points than traditional solar systems, meaning better long-term performance.”

Len May, Suntech’s Managing Director of BIPV Products, said: “Akeena’s new Andalay technology will be a valuable addition to our growing portfolio of solar products and will help keep Suntech on the leading edge of solar technology innovation. Andalay is a significant innovation that directly addresses the need to reduce the cost of solar systems, and we are confident that there will be significant demand for this attractive and high performance solar solution in markets outside of the U.S.” Suntech targets sales of over 10MW of the Andalay solar panels to the licensed regions in 2008.

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