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
CBD Energy Ltd. (ASX:CBD), a global and diversified renewable
energy 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 renewable technology.
"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™ 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
www.westinghousesolar.com.
The Westinghouse Solar logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7708
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.
Forward-Looking and Cautionary Statements - Safe
Harbor
This press release contains forward-looking statements,
including with respect to future expansion, and diversification
from the implementation and effects of the proposed business
combination between Westinghouse Solar and CBD. Those
statements and statements made in this release that are not
historical in nature, including those related to future earnings,
business diversification, achievement of cashflow and
profitability, 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 based on current plans, estimates and
projections, and, therefore, you should not place undue reliance on
them. These statements are subject to risks and uncertainties that
cannot be predicted or quantified, and CBD and Westinghouse Solar
caution that actual results may differ materially from those
expressed or implied by such forward-looking statements. These
statements are subject to the following risks and uncertainties:
difficulties, delays, unexpected costs or the inability to
consummate the proposed merger between CBD and Westinghouse Solar
and other transactions referred to in this communication and those
described in the documents that Westinghouse Solar files with the
U.S. Securities and Exchange Commission, as well as risks
associated with the inherent uncertainty of future financial
results, additional capital financing requirements, and development
and introduction of new products by CBD, Westinghouse Solar or
their respective competitors, uncertainties in the timing of
availability and manufacturing volumes of products from suppliers,
the effectiveness, profitability, and marketability of new
products, the ability to protect and defend proprietary rights and
information, the impact of current, pending, or future legislation,
regulation and incentive programs on the solar power industry, the
impact of competitive products or pricing, technological changes,
and the effect of general economic and business conditions. All
forward-looking statements included in this communication are made
as of the date of this communication, and neither CBD nor
Westinghouse Solar assumes any obligation to update any such
forward-looking statements, whether as a result of new information,
future events or otherwise.
Statement Regarding Additional Information That Will
Become Available
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of
any vote or approval. The publication or distribution of this
communication may, in some countries, be restricted by law or
regulation. Accordingly, persons who come into possession of this
document should inform themselves of and observe these
restrictions. To the fullest extent permitted by applicable law,
CBD, Westinghouse Solar and their respective affiliates disclaim
any responsibility or liability for the violation of such
restrictions by any person.
This communication is being made in respect of a proposed merger
involving CBD and Westinghouse Solar. In connection with the
proposed merger, CBD and Westinghouse Solar will file with the U.S.
Securities and Exchange Commission (the "SEC") a Registration
Statement on Form F-4 containing a proxy statement/prospectus, and
each of CBD and Westinghouse Solar may file with the SEC other
documents regarding the proposed merger. CBD will provide
disclosure and arrange for solicitation of the votes of its
shareholders in accordance with Australian regulations. Such
documents are not currently available. BEFORE MAKING AN INVESTMENT
OR VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE ADVISED TO
READ THE PROXY STATEMENT/PROSPECTUS AND OTHER FILED DOCUMENTS
CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.
Investors and security holders may obtain a copy of the
Registration Statement on Form F-4 containing a proxy
statement/prospectus (when available) and all other documents filed
with the SEC by CBD and Westinghouse Solar free of charge at the
SEC's website at www.sec.gov. Investors and security holders may
also obtain copies of these documents, free of charge, from
Westinghouse Solar by directing a request to Westinghouse Solar,
Attention: Margaret Randazzo, (408) 402-9400, or by going to
Westinghouse Solar's website at www.westinghousesolar.com.
Additionally, investors may obtain copies of these documents, free
of charge, from CBD by going to CBD's website at
www.cbdenergy.com.au/.
Participants in the Merger Solicitation
Westinghouse Solar and CBD, and their respective directors and
executive officers, may be deemed to be participants in the
solicitation of proxies in respect of the proposed merger and
related matters. Information regarding Westinghouse Solar's
directors and executive officers is contained in Westinghouse
Solar's annual report on Form 10-K, filed with the SEC on March 16,
2012, and amendment on Form 10-K/A, filed with the SEC on March 26,
2012. Information regarding CBD's directors and executive officers
is contained in CBD's statement on Schedule 13D, filed with the SEC
on January 9, 2012 (as amended to date). Additional information
regarding the interests of such potential participants will be
included in the Registration Statement on Form F-4 containing a
proxy statement/prospectus and the other relevant documents filed
with the SEC (when available). Investors can also obtain
free copies of these documents from CBD and Westinghouse Solar
using the contact information above.
CONTACT: FOR WESTINGHOUSE SOLAR:
Investor Relations Contact
Matt Selinger
Genesis Select
(303) 415-0200
mselinger@genesisselect.com
Media Relations Contact:
Gary Mull
Westinghouse Solar
(408) 402-947
pr@westinghousesolar.com
FOR CBD ENERGY:
United States Company Contact:
James Greer
CBD Energy - US Office
(917) 714-4791
james.greer@cbdenergy.com.au
Australia Media and Investor Relations Contact
Ian Westbrook
Westbrook Financial Communications
(61) 407 958 137
Ian@westbrookfin.com.au
Westrock Coffee (NASDAQ:WEST)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025
Westrock Coffee (NASDAQ:WEST)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025
