SAN JOSE, Calif., Jan. 29, 2015 /PRNewswire/ -- Andalay Solar (OTCQB: WEST), a leading supplier of integrated solar power systems, has received its largest-ever commercial solar system mounting hardware purchase order. The buyer, one of the five largest commercial solar installation companies in the U.S., has ordered from Hyundai Heavy Industries over 1MW of the upcoming Hyundai TG-Series modules which feature the Andalay Instant Connect® frame, and in turn has ordered from Andalay Solar over 1MW of commercial flat-roof mounting hardware.
"I'm pleased to see early demand for the new Hyundai TG-Series module. It's a great vote of confidence coming from a top installer in the industry to take the first modules manufactured by our new partner, Hyundai Heavy Industries," commented Steven Chan, President and CEO of Andalay Solar. "Customers now have the option to buy our modules manufactured under license by 'Tier One' brands, and to purchase our patented mounting hardware directly from us. I am excited that our new business strategy of partnering with top-tier solar module manufacturers is showing signs of success, and we expect it will optimize use of our working capital and ultimately translate into stronger profits."
Andalay's commercial flat roof system is a ballasted, aluminum pan and fairing solution which takes advantage of the patented Andalay frame design and allows for faster installation with far fewer parts than ordinary, rail-based flat roof systems.
About Andalay Solar: (OTCQB:WEST)
Founded in 2001, the Company is a designer and manufacturer of integrated solar power systems. The Company has been a pioneer in the concept of integrating the racking, wiring and grounding directly into a solar panel. The company's AC solar panel reduces the number of components for a rooftop solar installation by approximately 80% and lowers labor costs by approximately 50%. This AC panel, which won the 2009 Popular Mechanics Breakthrough Award, has become the industry's most widely installed AC solar panel. The Company currently sells its new generation "Instant Connect®" products in both AC-ready and DC format which provide the best combination of safety, performance and reliability. For more information on the Company, visit www.andalaysolar.com.
Forward-Looking and Cautionary Statements - Safe Harbor
Statements made in this release that are not historical in nature, including those related to market acceptance of products, constitute forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "expects," "projects," "plans," "will," "may," "can," "anticipates," believes," "should," "intends," "estimates," and other words of similar meaning. The statements are subject to risks and uncertainties that cannot be predicted or quantified, and our actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks associated with anticipated stronger profits, improved use of working capital, shipments of Andalay enabled modules by Hyundai, the consummation, fulfillment or execution of the over 1MW purchase order and improved installation times. All forward-looking statements included in this release are made as of the date of this press release, and Andalay Solar assumes no obligation to update any such forward-looking statements.
SOURCE Andalay Solar