Solar Integrated : 2 MW Deal Marks First Italian Sale And First Ground-Mount System

Solar Integrated Technologies, Inc., a leading provider of building integrated photovoltaic (BIPV) roofing systems, announced that it has won two contracts in Italy totaling U.S. $10 million to provide 2 MW of solar systems at two sites outside of Rome, Italy. The project includes a ground-mount system and a BIPV system at the Malagrotta Landfill. The project, which is the Company’s largest European contract to date as well as one of the largest announced solar deals in Italy, is expected to be completed in late 2007. In addition to the initial revenue for the project, the Company also expects to receive annual bonus revenue and cash payments based on a revenue sharing arrangement from the power produced by the solar systems.

R. Randall MacEwen, President & CEO of Solar Integrated, said: “Winning this project in Italy is a real mark of our success in expanding our geographic reach. We have already completed over 50 projects in Germany, Spain and France, so this move into the attractive Italian market is the logical next step. In addition, this is our first ground-mount system, demonstrating our ability to continue innovating and expand our target market applications and product offering.”

“The flexible nature of Solar Integrated’s solar solution was very important to securing this project at the in-use Malagrotta Landfill site,” stated Manlio Cerroni, President and owner of Colari Consorzio Laziale Rifiuti and Sorain Cecchini S.p.A. “Their solar product is able to effectively conform to our site layout and unique landfill terrain, including moving ground. In addition, we are now able to transform a previously unutilized hillside into a valuable revenue-generating asset. We are thrilled to have a renewable power generating capability that is expected to produce over 54 million kilowatt hours of power and displace over 45,000 metric tons of carbon dioxide emissions over the next 20 years.”

The project is a significant landmark for Solar Integrated to be entering the Italian market, following its early success in several other key European countries. With recent changes to the Italian feed-in tariff program, BIPV projects are likely to become more attractive in the country, and Solar Integrated plans to pursue this market opportunity.

Prism Solar Technologies (PST) closes $1.15MM in bridge-round financing.

Prism Solar Technologies, Inc. (PST), has closed on a bridge-round of equity financing toward its Series "A" financing. After securing investment of $900,000, PST has received an additional $1,150,000 investment from CounterPoint Ventures, Phoenix-Fire II LLC, Magnesium.com, Inc. and individual investors as part of its equity financing to commercialize its patented holographic PV technology.
Through passive tracking, Prism's Holographic Planar Concentrator (HPC) technology can achieve higher output in the morning and late afternoon while reducing the amount of expensive silicon necessary in a module. Prism PV modules minimize the use of expensive solar cells in our modules but still maintain above average output.
PST continues to make advances on the business front and is in discussions with international PV companies regarding joint ventures and licensing of its holographic film and glass products.
"This funding will allow us to accelerate the development of our second generation of products", said Rick Lewandowski, Prism's President and CEO. "We will also be able to facilitate our R&D effort more extensively."