I am assuming that OEGY will have to access the credit mkts to build out the coming expansion so in this instance I believe the current credit fears are influencing the pps to some degree..they could sell equity but that's not so good. Anyway it is all within the uptrend and consolidation. We are going to resume the uptrend sooner or later gl
Open Energy Receives $4.21 Million Order From SolarPro
Monday July 2, 9:00 am ET
Company's SolarSave Tiles Will Be Installed in New Residential Development in Central California
SOLANA BEACH, CA--(MARKET WIRE)--Jul 2, 2007 -- Open Energy Corp. (OTC BB:OEGY.OB - News), a renewable energy company focused on providing solar solutions to its residential and commercial customers, today announced a $4.21 million dollar purchase order for SolarSave® PV Tiles from SolarPro International, a solar integrator based in Sacramento, California. Open Energy's building integrated PV tiles will be installed on approximately 375 new single-family residences in the Placer County development.
Homes will be equipped with 2-kilowatt rooftop systems, representing about half of the total electrical requirements of each property. The remainder of the rooftops will be surfaced with Eagle Roofing's cement tile products. Homes are currently under construction, with build-out of the projects expected to occur over the next thirty-six months.
David Saltman, CEO of Open Energy, announced: "Kevin Boedecker and his team at SolarPro have done a phenomenal job designing this project and convincing the developer that our SolarSave® PV Tiles can help them market properties, as well as generate significant utility savings for their homeowners. We look forward to accelerating our sales through this important channel."
Kevin Boedecker, President of SolarPro, commented, "I have been working in the solar industry since 1980, and there has never been this level of interest in residential and commercial systems. The economic feasibility and environmental benefits of renewable energy are generating a great deal of activity. The big commercial builders recognize the value proposition of going solar and are embracing the technology in a number of their projects. It is an exciting time to be in this business."