ROCHESTER HILLS, Mich., Feb. 3 /PRNewswire-FirstCall/ -- United Solar Ovonics (USO), a wholly owned subsidiary of Energy Conversion Devices, Inc. (ECD) (Nasdaq: ENER), today announced the major contribution for 4MW building integrated photovoltaic (BIPV) system on the roof-tops of the Marcegaglia Group's industrial plant in Taranto. The system will be mostly equipped with UNI-SOLAR® innovative flexible light weight photovoltaic modules. The project, one of the largest innovative technology roof-top systems in Italy, is scheduled to start operating in 2010.
The installation features Marcegaglia's Brollo Solar photovoltaic roofing system. This roofing system is formed by UNI-SOLAR laminates being directly applied to corrugated sheets or insulating panels to form a light weight BIPV roofing solution.
Once fully operational, the complete system – owned 51% by Enel Green Power and 49% by Marcegaglia Group – will be able to produce over 5 million kWh annually, enough to meet the energy needs of approximately 1,900 households, thereby avoiding the atmospheric emission of some 4,000 tons of CO2 per year.
Mark Morelli, ECD's president and CEO, said, "We are pleased to again be working with Marcegaglia on another BIPV project. This installation in Taranto is another excellent example of a successful BIPV application of our UNI-SOLAR laminates. Because UNI-SOLAR laminates are thin, light weight and flexible, they were the ideal choice for this installation which called for the PV system to be fully integrated into the existing architecture. We look forward to developing many more projects of this type in the future."
The core business of the Marcegaglia Group, wholly owned by the family of the same name, is steel processing in which it is a world leader. With 6,500 employees and 50 manufacturing plants in Italy, Europe, the Americas and Asia, it operates in markets around the world. As part of its diversified activities, Marcegaglia Energy is the business unit devoted to generating electricity from renewable resources. It has been operating since 1995 in power generation from biomass and refuse- derived fuel (Euro Energy Group). In 2006 it introduced photovoltaic technologies: with Arendi in the area of thin-film on glass substrates and with Marcegaglia Buildtech for flexible thin-film systems.
About Enel Green Power
Enel Green Power, established in December 2008, is the Enel Group company devoted to the development and management of power generation from renewable resources at the international level, with a presence in Europe and the Americas. It is the European leader in its industry thanks to 17.2 billion kilowatt-hours of electricity generated from water, the sun, wind and the heat of the earth, enough to meet the consumption needs of some 6.5 million households each year and avoid 13 million tons of CO2 emissions. The company's installed capacity totals about 4,700 MW, produced by more than 500 plants in operation around the world, with a generation mix that includes wind, solar, hydro, geothermal and biomass.
About Energy Conversion Devices, Inc.
Energy Conversion Devices, Inc. is the leader in building integrated and commercial rooftop photovoltaics, one of the fastest growing segments of the solar power industry. The company manufactures and sells thin-film solar laminates that convert sunlight to energy using proprietary technology. ECD's UNI-SOLAR® brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. ECD also pioneers other alternative technologies, including a new type of nonvolatile digital memory technology that is significantly faster, less expensive, and ideal for use in a variety of applications including cell phones, digital cameras and personal computers. For more information, please visit www.energyconversiondevices.com.
This release may contain forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Risks that could cause such results to differ include: our ability to successfully integrate the acquisition of Solar Integrated Technologies; our ability to maintain our customer relationships; the worldwide demand for electricity and the market for solar energy; the supply and price of components and raw materials for our products; and our customers' ability to access the capital needed to finance the purchase of our products. 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 most recent Quarterly Report on Form 10-Q, could impact any forward-looking statements contained in this release.
SOURCE Energy Conversion Devices, Inc.