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
