Date: Tuesday, April 25, 2006
Trading Symbol: OTCBB:OEGY
Open Energy Corp. Announces Collaboration Effort to Develop New Energy Storage and Delivery Solution
Open Energy, Corp. (OTC BB: OEGY), is pleased to announce that it has entered into an alliance with iCeL Systems Corporation, a leading provider of Lithium based energy storage and management systems for the renewable energy market, to develop an innovative system for "dispatchable" renewable energy.
Upon completion, the prototype systems will be available through Open Energy Corp. ("OEC") and its affiliates. They are designed to dispatch on-demand up to 144 kWh of energy to households, commercial buildings or utility companies at any time during the day or night. The integration of iCeL System's Energy Storage and Management solution expands the Company's photovoltaic system abilities and makes solar energy available on a 24/7 basis.
"This new system introduces a paradigm shift for the solar energy market," states Chaz Haba, CEO of iCeL Systems. "The combination of OEC's photovoltaic solutions with our energy storage and management technology significantly increases the efficiency of any solar system."
The iCeL Energy Storage and Management System provided to Open Energy Corporation consists of 144 modular iCeLs. Each module weighs in at 11 pounds each and provides 1 kWh of storage. The system can be configured flexibly to match any photovoltaic system ranging from 12 to 252 Volts.
David Saltman, Open Energy CEO comments, "Our collaboration with iCeL is part of our effort to offer total renewable energy solutions to our customers. This innovative lithium-based storage system expands the capabilities of SolarSave(TM) building-integrated roofing tiles and membranes. We believe it will eventually have a significant positive impact on the electrical utilities as they expand their own distributed generation strategies."
ABOUT THE COMPANY
Open Energy Corp. focuses on the development and commercialization of renewable energy products and technologies for a wide range of applications including solar energy, power production, and water desalination. The Company pursues these objectives through acquisitions, strategic partnerships, technology transfer opportunities, and other business strategies.
Safe Harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Open Energy Corp. has little or no control.
ON BEHALF OF THE BOARD
Open Energy Corp.
David Saltman, President
