ROCHESTER HILLS, Mich., Nov. 9 /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. (ECD) (Nasdaq: ENER), a manufacturer of proprietary, thin-film amorphous silicon-based photovoltaic (PV) laminates, along with its wholly owned subsidiary Solar Integrated Technologies, announced today an agreement to install a 365kW building-integrated solar roofing system at East Los Angeles College (ELAC) as part of a contract with Chevron Energy Solutions, energy services provider for the ELAC project.
"This project provides us with a unique opportunity to help East Los Angeles College save money and prepare for a greener future," said Mark Morelli, president and CEO of ECD. "Our recent acquisition of Solar Integrated Technologies more vertically integrates our company and gives us the capabilities we need to install this UNI-SOLAR building-integrated membrane roof for ELAC."
In addition to installing a new, energy-efficient PV roofing system, the energy services contract bundles multiple energy efficiency improvements into a single package that includes upgrading the facilities' lighting, insulation and HVAC systems.
About Energy Conversion Devices
Energy Conversion Devices is a leader in building integrated and rooftop photovoltaics. The company manufactures, sells and installs 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. Through its Solar Integrated Technologies business, the company also designs, manufactures and installs rooftop photovoltaic systems which enable customers to transform unused space on the rooftop into a value-generating asset. 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 sustain profitability; 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.