AUBURN HILLS, Mich., Dec. 10 /PRNewswire-FirstCall/ -- United Solar
Ovonic LLC, a wholly owned subsidiary of Energy Conversion Devices, Inc.
(Nasdaq: ENER) ("ECD"), announced today that it has entered into a supply
agreement with Sun Edison LLC to supply up to 17 MW of its UNI-SOLAR(R)
solar laminates in calendar year 2008. Under the terms of the agreement,
SunEdison will purchase a minimum of 5 MW and up to an additional 12 MW of
UNI-SOLAR laminates for use on large-scale rooftop installations on
industrial and commercial buildings principally in the U.S.
"We are pleased to be working with SunEdison, one of North America's
leading solar energy service providers," commented Mark Morelli, president
and CEO of ECD. "This is the latest example of the momentum United Solar is
building as customers are won over by the extensive benefits of our proven
laminates, particularly for rooftop applications like those being targeted
by SunEdison."
"The flexibility and lightweight characteristics of United Solar's
laminates enable SunEdison to supply solar services to a broader range of
customers, especially to deploy solar on rooftops which often cannot
support a heavier load," said Thomas (Tom) Rainwater, CEO of SunEdison.
"SunEdison is ideally positioned to leverage United Solar's unique
thin-film products to deliver solar energy to our customers. Our agreements
with United Solar and others help us to meet the needs of our customers to
reduce energy costs and carbon footprint by generating sustainable, clean
solar power."
UNI-SOLAR laminates offer superior cost-effective solutions for roofing
applications because they are lightweight, durable, flexible, can be
integrated directly with building materials, and generate more energy in
real- world conditions. They are, for example, three to five times lighter
than conventional solar modules (which use glass), offering an ideal
solution for low-load bearing roof applications. UNI-SOLAR laminates can be
installed without any structural changes or penetrations to the roof, and
provide superior wind and seismic load performance compared with
conventional solar modules.
About United Solar Ovonic
United Solar Ovonic, building on technology invented and pioneered by
ECD, is the world leader in thin-film amorphous photovoltaics. Because of
characteristics unique to the United Solar Ovonic solar cell technology,
such as lightweight, ruggedness and flexibility, it is ideal as
building-integrated photovoltaic roofing systems. ECD and United Solar
Ovonic hold the basic patents covering the continuous roll-to-roll
manufacturing of thin-film amorphous-silicon alloy multi-junction solar
cells and related products. More information is available at
http://www.uni-solar.com.
About Energy Conversion Devices
Energy Conversion Devices, Inc. (NASDAQ: ENER) manufactures and sells
thin-film solar laminates that convert sunlight to energy. Distributed
globally under the UNI-SOLAR(R) brand, the company's products are based on
proprietary technology and offer superior cost-effective solutions for
roofing applications because they are lightweight, durable, flexible, can
be integrated directly with building materials, and generate more energy in
real- world conditions. ECD pioneers other alternative technologies,
including a new type of nonvolatile digital memory technology that is
significantly faster and less expensive, ideal for use in a variety of
applications, including cell phones, digital cameras and personal
computers. For more information on our company, please visit
http://www.ovonic.com.
About SunEdison
Sun Edison LLC is North America's largest solar energy service
provider. SunEdison provides solar-generated energy at or below current
retail utility rates to a broad and diverse client base of commercial,
municipal and utility customers. For more information about SunEdison,
please visit http://www.sunedison.com. The company headquarters is located in
Baltimore, Md.
This release may contain forward-looking statements within the meaning
of the Safe Harbor Provisions of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements are based on assumptions which
ECD, as of the date of this release, believes to be reasonable and
appropriate. ECD cautions, however, that the actual facts and conditions
that may exist in the future could vary materially from the assumed facts
and conditions upon which such forward-looking statements are based. 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 Form 10-Q, could impact any forward-looking statements contained in
this release.
SOURCE Energy Conversion Devices, Inc.
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Related links:
http://www.ovonic.com
http://www.uni-solar.com http://www.sunedison.com
CONTACT:
Ghazaleh Koefod, Investor Relations of Energy
Conversion Devices, Inc., +1-248-293-0440; or Tracey Rettig,
Corporate Communications Specialist of United Solar Ovonic LLC,
+1-248-364-5781; or Rob Wyse of Media First, +1-212-920-1470, for
Energy Conversion Devices, Inc. and United Solar Ovonic LLC
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