This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Akeena Solar And Westinghouse Partner To Create Westinghouse Solar

LOS GATOS, Calif., May 17, 2010 (GLOBE NEWSWIRE) -- Marrying one of the most famous consumer brands in the world with the most innovative name in solar power, Akeena Solar (Nasdaq:AKNS), a leading installer and manufacturer of high-performance solar panels, has entered into an exclusive worldwide agreement to manufacture, distribute, market and install its solar panels under the Westinghouse name.

The Westinghouse partnership is a validation of Akeena's award-winning technology that integrates the brains of a solar energy system into the solar panel itself, reducing the parts count by 80 percent and improving performance and reliability. Akeena's alternating-current (AC) systems are safer and produce up to 25 percent more energy than ordinary direct-current (DC) panels.

As solar purchasers move from early adopters to mainstream consumers, a lack of brand recognition derails buyers. This agreement directly addresses that issue, combining a trusted brand name with the reliability, performance and safety that buyers want.

"Partnering with Westinghouse moves us one giant step closer to the goal we've had since I founded Akeena: installing solar panels on every sunny rooftop," said Barry Cinnamon, CEO of Akeena Solar.

Added Cinnamon, "Since the beginning, we've worked consistently to make solar more mainstream. We began as a rooftop installer. We then designed our own easy-to-install solar panels that gave customers superior reliability and aesthetics. We improved our design by manufacturing higher-performance AC panels, and built a dealer network that has grown to more than 25 states and Canada. We then partnered with Lowe's Home Improvement stores for installation services, along with the first do-it-yourself solar panels stocked on retail shelves.

"Now, with the exclusive rights to the Westinghouse Solar brand, we look forward to accelerated growth without large up-front brand investments," concluded Cinnamon.

"Since George Westinghouse founded the Westinghouse Electric Corporation in 1886, the world's electric grid has operated on AC power," said James F. Davis, vice president, Westinghouse Electric Corp. "For more than 100 years, Westinghouse has literally set the standard for reliable electric power and home appliances. We approached Akeena when our research indicated their integrated solar-panel technology could help make solar mainstream. Akeena's safe and reliable AC solar panels are a perfect complement with Westinghouse's heritage. We are pleased to introduce Westinghouse Solar as the newest member of the exclusive Westinghouse family."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $113.29 0.00%
FB $91.01 0.00%
GOOG $630.38 0.00%
TSLA $248.48 0.00%
YHOO $33.14 0.00%

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs