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."
As part of the Westinghouse transition, Akeena's wholly-owned subsidiary Andalay Solar will be renamed Westinghouse Solar. This Westinghouse Solar subsidiary will manage the design, manufacturing and distribution of Akeena's award-winning AC solar panels. Akeena Solar, the California-based parent company and its authorized dealers, including Lowe's Home Improvement stores, will have the exclusive rights to install Westinghouse Solar panels.Westinghouse-branded solar panels will begin shipping to customers in the U.S. and Canada later this summer. A preview of the company's products and services, including the Westinghouse Solar Dealer Program, is available at www.westinghousesolar.com. For more information, please stop by the Westinghouse Solar booth this week at the ASES National Solar Conference, booth #123. AKNS-G About Akeena Solar, Inc. Founded in 2001, Akeena Solar's philosophy is simple: We believe producing clean electricity directly from the sun is the right thing to do for our environment and economy. Akeena Solar has grown to become one of the nation's leading installers and manufacturers of solar power systems. Akeena Solar's revolutionary Andalay AC solar panels produce safe household AC power and have built-in racking, wiring, grounding and inverters. With 80% fewer parts and 5-25% better performance than ordinary DC panels, Andalay panels are an ideal solution for solar installers, trades workers and do-it-yourselfers. For more information on the company, visit www.akeena.com. Installers can also visit www.andalaysolar.com to learn more about the Andalay panels. The Akeena Solar, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5143 About Westinghouse Solar, Inc. For more than a century, the Westinghouse name has stood for reliability and innovation. It began in 1886, when George Westinghouse introduced the first alternating current (AC) electrical system – which soon powered every American home and business. Westinghouse Solar Power Systems are safer, more powerful and more reliable than any others, while backed by the proven quality of the Westinghouse name. Interested homeowners and dealers can learn more about Westinghouse Solar Power Systems at www.westinghousesolar.com. Safe Harbor Statements made in this release that are not historical in nature, including those related to revenue and profitability and product offerings in future periods, 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," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. These 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 the uncertainty of future financial results, additional financing requirements, development of new products, the effectiveness, profitability, and marketability of such products, the ability to protect proprietary information, the impact of current, pending, or future legislation and regulation on the industry, the impact of competitive products or pricing, technological changes, the ability to identify and successfully acquire, integrate and manage client accounts and locations and deliver our services to customers of businesses and accounts acquired from third parties, and the effect of general economic and business conditions. All forward-looking statements included in this release are made as of the date of this press release, and Akeena Solar assumes no obligation to update any such forward-looking statements.
CONTACT: Akeena Solar, Inc. Jose Tengco (408) 402-9422 firstname.lastname@example.org Antenna Group Public Relations Public Relations Contact: Caitlin Cieslik-Miskimen (415) 977-1922 email@example.com