Company Introduces Solar, Energy Efficiency and Storage Technologies, as well as EPC Project Development and Energy Services----- Debuting with Westinghouse Solar at Solar Power International
CAMPBELL, Calif. and SYDNEY, Australia, Sept. 6, 2012
company, today announced its plans to launch its portfolio of renewable
energy businesses in the U.S. market. The company, which recently announced
a proposed merger with Westinghouse Solar, Inc. (WEST), will debut its
technologies and services during the upcoming Solar Power International
conference in Orlando, Florida at booth 3501.
"CBD Energy's pending merger with Westinghouse Solar offers an ideal
platform for the expansion of our renewable energy business into the world's
largest market," said Gerry McGowan, Managing Director and CEO of CBD Energy
Ltd. "In addition to building upon Westinghouse Solar's business in the
U.S., CBD Energy plans for U.S. operations built around its core strengths
in design, engineering, procurement and construction
(EPC) of commercial solar projects; energy efficiency and storage
technologies; and energy services."
"CBD Energy's merger with Westinghouse Solar and the launch of our renewable
energy divisions in the U.S. aligns with our strategy to create a more
highly diversified business and to accelerate our access to growth
opportunities in renewable energy," continued McGowan.
A key focus of the company will be in assisting customers with EPC and
financing of solar projects in the U.S., an area in which CBD Energy has
significant expertise and sees abundant opportunity in the U.S.
market. With energy deregulation, CBD Energy also sees the U.S. market as
primed for growth in the area of energy services, where it plans to offer
utilities and service providers a solar option to add to their service
portfolios. CBD Energy also has a range of energy efficiency, capacitor,
storage and remote area storage technologies that address various energy
management challenges -- an area often noted as "the missing link" in
"CBD Energy sees tremendous opportunity in the solar market in the U.S.,
particularly with their EPC expertise combined with Westinghouse Solar's
success in driving down installed system cost by innovating the design and
ease of installation of solar panels," said Margaret Randazzo, Chief
Executive Officer of Westinghouse Solar, Inc.
"Expanding the CBD Energy portfolio into the U.S. diversifies our combined
business, providing incremental earnings and enabling our continued
innovation and expansion."
Since announcing the merger, CBD Energy and Westinghouse Solar have already
demonstrated significant synergies and collaboration, including partnering
on an EPC contract to build a 1.4 MW solar project in New Jersey; a joint
venture to build 30 MW of EPC commercial projects in Italy; and a joint
agreement to begin distributing 5 MW of Westinghouse Solar Instant
Connect(TM) Solar Power Systems to Harvey Norman's Commercial Division,
Australia's largest electrical and home improvement retailer.
The companies will be jointly attending and presenting at Solar Power
International (Booth # 3501) from September 10 - 13 in Orlando, Florida.
Representatives will be on hand to discuss residential, commercial, and
utility scale technologies and projects. Interested parties are encouraged
to visit the CBD Energy and Westinghouse Solar booth or contact company
representatives to set up a meeting.
About Westinghouse Solar: (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" has just been introduced 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
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 and
Southeast Asia, both directly and through joint ventures. For more
information on CBD, visit www.cbdenergy.com.au.