Open Energy Signs Distribution Agreement with Petersen-Dean Deal includes commitment to install 100 solar homes per month, representing sales of over $20 million in 2008Distribution Agreement |
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OPEN ENERGY CORP | Tri-Valley Wholesale and Petersen-Dean Roofing Systems. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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EXHIBIT 99.1
Open Energy Signs Distribution Agreement with Petersen-Dean
Deal includes commitment to install 100 solar homes per month, representing sales of over $20 million in 2008.
Solana Beach, Calif., November 20, 2007 — (MARKETWIRE) — Open Energy Corp. (OTCBB: OEGY) (“Open Energy” or the “Company”) is pleased to announce that effective November 16, 2007 Open Energy signed a distribution agreement with Tri-Valley Wholesale and Petersen-Dean Roofing Systems, one of the largest residential and commercial roofing contractors in the US, to supply SolarSave® PV Tiles on new homes across the country. The agreement includes a minimum commitment to purchase Open Energy’s SolarSave® products, including tiles and balance of system equipment. Petersen-Dean Roofing joins Eagle Roofing as Open Energy Corporation’s exclusive channel partners for its building-integrated SolarSave® PV Tile products.
Open Energy President and COO David Field said, “This contract with Petersen-Dean is a validation of our superior BIPV products, and our go to market strategy of utilizing building industry professionals as our sales, installation and service channel partners. Petersen-Dean is one of the premier roofing contractors in the country, and we are honored to be working with them to bring safe, secure, renewable energy to homeowners across the country.”
Jim Petersen, CEO of Petersen-Dean, added, “After careful research into the market, we believe that solar electric systems can significantly reduce the energy costs and increase the property values of our clients. We believe that SolarSave® Tiles integrated with standard cement tiles provide an elegant and functional solution for incorporating solar systems into tile roofed homes. We are committed to this business and believe that with Open Energy’s involvement we are positioned for tremendous growth and success.”
Open Energy will support Petersen-Dean’s efforts with inst
