Aerojet and Solar Power, Inc. Participate in EPA Event in Los Angeles

SACRAMENTO and ROSEVILLE, Calif., Jan. 12 /PRNewswire-FirstCall/ --  Aerojet, a GenCorp (NYSE: GY) company and Solar Power, Inc. (OTC Bulletin Board: SOPW), announced jointly today that the companies participated in the Environmental Protection Agency (EPA) event to help facilitate streamlining the development process of nearly 15 million acres of EPA tracked land with potential for renewable energy production.  Ronald Samborsky, Aerojet's Vice President of Renewable Energy and Sustainability, and Eric Hafter, Chief Strategy Officer for Solar Power, Inc. served as co-keynote speakers at the event hosted by the EPA in Los Angeles, California today. Mr. Samborsky and Mr. Hafter discussed the Aerojet Photovoltaic system designed and installed by Solar Power, Inc. on Aerojet's Sacramento, California property.  

Aerojet has a 40-acre photovoltaic (PV) solar farm that has been designed and installed by Solar Power, Inc. to provide power to Aerojet's operations, including its extensive water remediation program.  Solar Power, Inc. is a vertically integrated manufacturer, designer and installer of world-class utility-scale PV systems, as well as commercial and residential PV systems.  The Company's products are sold worldwide.

Today's event in Los Angeles was an invitation-only event to serve stakeholders in large-scale renewable energy projects through a structured open dialogue.  Key stakeholders representing landowners, solar developers, electrical utilities and regulatory agencies participated. The objective of the event was to facilitate a more efficient conversion of brownfield sites into renewable energy producers by identifying impediments and streamlining the process to enable shorter development cycles.  

The Aerojet project serves as a model case for how to turn impaired land into an energy producing environmental asset.  The recently commissioned 3.6 megawatt system and the 2.4 megawatt Phase-2 addition under construction will make the 6 megawatt single-axis tracker facility the largest single-site industrial system in California and among the largest in the U.S.  All of the power generated by the system will be utilized by Aerojet operations. "The electricity this solar farm generates provides more than 20% of the power required to operate our extensive groundwater remediation program," said Mr. Samborsky. "We have worked closely with the EPA and Solar Power, Inc. to create an energy producing environmental asset that has reduced our carbon footprint, and transformed this land."

"Our work with Aerojet on this project exemplifies our company's core mission," said Eric Hafter, Chief Strategy Officer for Solar Power, Inc.  "Designing and delivering a system of this scale, while restoring this land to beneficial use continues to be a rewarding experience.  Helping Aerojet achieve key economic, environmental and sustainability objectives demonstrates the social and economic value of our products and services," Mr. Hafter points out.  "We could not be happier with the outcome of this project."

Solar Power, Inc.'s system at Aerojet's Sacramento site features ground-mounted arrays utilizing a single-axis tracking system to follow the sun's course throughout the day and maximize electricity production. The entire six-megawatt system covers more than 40 acres of the Aerojet site, utilizing 22 tracking arrays and 29,344 SPI 205 watt photovoltaic modules.  Based on its performance characteristics, the SPI 205 watt module is currently the number one ranked PV solar module in its class with the California Energy Commission.  

About Aerojet:

Aerojet is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, defense and armaments markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the entitlement, sale, and leasing of the company's excess real estate assets. Additional information about Aerojet and GenCorp can be obtained by visiting the companies' Web sites at http://www.Aerojet.com and http://www.GenCorp.com.

About Solar Power, Inc.:

Founded in 2005, Solar Power, Inc. is a vertically integrated solar energy solution provider offering the North American commercial and public sector building markets a complete solution through a single brand. Throughout Europe, Asia and Australia the Company sells its products direct to distributors and turnkey solutions providers. The Company's Yes!  branded products provides the U.S. and European small- to mid-sized business and residential market segments with turnkey PV solar systems through a growing dealer network.  Solar Power, Inc. operates from its Roseville, California headquarters.  

Safe Harbor Statement:

This release contains certain "forward-looking statements" relating to the business of Solar Power, Inc., its subsidiaries and the solar industry, which can be identified by the use of forward looking terminology such as "believes, expects" or similar expressions. The forward looking statements contained in this press release include statements regarding the Company's ability to execute its growth plan and meet revenue and sales estimates, enter into formal long-term supply agreements, and market acceptance of products and services. These statements involve known and unknown risks and uncertainties, including, but are not limited to, general business conditions, managing growth, and political and other business risk.  All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.

SOURCE GenCorp Inc.