Solar Universe Names Steven L. Yeffa CFO 30-Year Finance Executive Brings Extensive Leasing and Franchising Expertise to Expand Solar Universe's Proven Business Model

LIVERMORE, Calif., March 15, 2011 /PRNewswire/ -- Solar Universe, a solar installation and finance company, today announced it has appointed Steven L. Yeffa chief financial officer.  Yeffa will oversee the company's corporate finance and accounting activities, and help grow its newly launched solar leasing program.  Yeffa is a seasoned finance executive who brings 30 years of experience in financial management and a strong background in arranging lease transactions and facilitating rapid growth for franchises.

"Steve's finance knowledge in both leasing and franchising is the perfect combination to help expand Solar Universe's proven business model into new geographies and product offerings," said Joe Bono, founder and CEO, Solar Universe.  "We're thrilled to have Steve join the Solar Universe team."

Yeffa's career spans a range of sectors, including office automation, financial services and asset management technologies.  Prior to joining Solar Universe, Yeffa served as chief financial officer for Cartridge World where he directed the global financial operations of the 1,600 store franchise operations, and later became the president of the Americas region. Yeffa was also chief financial officer of the Western Region of IKON Office Solutions in Walnut Creek, CA.  Prior to joining IKON, he was executive vice president and chief financial officer of Leasing Solutions, Inc., where he established the company's Western European operations in 10 different countries and managed the company through a successful IPO.

"Approaching solar through a franchising model is the key to enabling widespread solar adoption," said Yeffa.  "Solar Universe has struck a critical balance by providing both financing to homeowners and equipping local installers with essential knowledge and training so they can execute the solar installation process from start to finish in a cost effective way. I'm excited to join the growing Solar Universe team and use my expertise to help expand its network of owner-operator solar businesses."

Yeffa comes to Solar Universe at a pivotal time in the company's growth. In January, Solar Universe announced it had secured $7 million in series B funding and most recently it announced the availability of a residential solar lease program. Solar Universe currently has 21 franchisees across California, Nevada, Arizona, Pennsylvania, Louisiana and New Jersey and is expanding to other states later this year.

About Solar Universe

Founded in 2007, Solar Universe is a solar installation and finance company that is changing the way solar is delivered to residential and commercial property owners. The company is comprised of a multi-state network of owner-operated businesses offering solar power system design, installation, monitoring, and finance throughout the United States. Through its proven team of leaders with start-up, environmental, operations, and solar industry depth, Solar Universe is increasing its service coverage, enhancing customer offerings and accelerating the adoption of distributed renewable energy. Please visit www.solaruniverse.com for additional information. To learn about opening a Solar Universe franchise, visit http://www.solaruniverse.com/franchise_tour_1.

SOURCE Solar Universe



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