CAMPBELL, Calif., April 22, 2013 /PRNewswire/ -- Westinghouse Solar, Inc. (OTCQB: WEST), a designer and manufacturer of integrated rooftop solar power systems and CBD Energy Limited (ASX: CBD), a diversified renewable energy company, have negotiated a sub-license for use of the Westinghouse Solar brand and technologies in Australia.
As previously announced, Westinghouse Solar and CBD are parties to a pending merger agreement, expected to be completed in the third quarter of calendar year 2013, subject to shareholder approval of both companies.
Westinghouse Solar CEO Margaret Randazzo commented, "This agreement is a continuation of our collaborative efforts with CBD as we move towards our merger. There is tremendous opportunity in the Australian solar power market and the expansion of the Westinghouse Solar brand through our partnership with CBD allows us to further diversify our business."
"As a trusted solar installer, with thousands of satisfied customers world-wide, our mission is to help our customers reduce or eliminate their electric bills with the installation of high quality solar power systems," said Gerry McGowan, Managing Director of CBD. "Westinghouse brings a rich history of innovation, reliability, efficiency and serviceability to a fragmented industry that has many small operators. When you invest in a 20+ year asset, you want a name you can trust."Information on Westinghouse Solar products and services can be found at: http://www.westinghousesolar.com/index.php/products and http://www.westinghousesolar.com.au/index.html About Westinghouse Solar (OTCQB:WEST) Founded in 2001, Westinghouse Solar is a designer and manufacturer of solar power systems. In 2007, Westinghouse Solar pioneered the concept of integrating the racking, wiring and grounding directly into the solar panel. This revolutionary solar panel, originally branded "Andalay", quickly won industry acclaim. In 2009, the company again broke new ground with the first integrated AC solar panel, reducing the number of components for a rooftop solar installation by approximately 80 percent and lowering labor costs by approximately 50 percent. This AC panel which won the 2009 Popular Mechanics Breakthrough Award, has become the industry's most widely installed AC solar panel. A new generation of products named "Instant Connect" was introduced in 2012 and is expected to achieve even greater market acceptance. Award-winning Westinghouse Solar Power Systems provide the best combination of safety, performance and reliability, while backed by the proven quality of the Westinghouse name. For more information on Westinghouse Solar, visit www.westinghousesolar.com. About CBD Energy (ASX:CBD) CBD is Australia's emerging leader in renewable energy, enabling the efficient use of renewable energy for utilities, businesses and households through operations in wind, solar, energy storage and engineering. It has become one of the largest non-utility suppliers and installers of solar energy generation equipment for both large- and domestic-scale operation in Australia. Utilizing its globally-competitive supply chain, CBD is also currently developing and profitably installing solar projects in Europe, the United States and Southeast Asia, both directly and through joint ventures. For more information on CBD, visit http://www.cbdenergy.com.au. Statement Regarding Additional Information That Will Become Available This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. The publication or distribution of this communication may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, CBD, Westinghouse Solar and their respective affiliates disclaim any responsibility or liability for the violation of such restrictions by any person.
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