Date: Thursday, May 24, 2007
Trading Symbol: OTCBB:OEGY
Open Energy Subsidiary WaterEye Announces License of Monitoring Software to Kobelco Eco-Maintenance Company
Enterprise Class System Will Support Clients Throughout Japan
SOLANA BEACH, CA, May 24, 2007 (MARKET WIRE via COMTEX News Network) -- Open Energy Corp. (OTCBB: OEGY) today announced that its wholly owned subsidiary, WaterEye, has successfully completed the installation of its enterprise class monitoring system for Kobelco, an leading environmental solutions provider in Japan. Under the terms of the agreement Kobelco has licensed WaterEye's software for use throughout Japan. Kobelco, under separate terms, will contract with WaterEye for software support and maintenance services.
Tom Wolfe, SVP of Engineering & Development for Open Energy and founder of WaterEye, stated, "We are extremely pleased to be working with Kobelco Eco-Maintenance and look forward to a long and mutually beneficial association. Under the terms of the license with Kobelco, they will use WaterEye software, localized in the Japanese language, to monitor and display operating parameters at Kobelco's water and wastewater treatment and processing systems throughout Japan. Kobelco's servers will collect and analyze data, generating reports and alarms for Kobelco operators and clients."
David Saltman, CEO of Open Energy, added, "WaterEye is gaining significant traction in the industry and our relationship with Kobelco demonstrates the international opportunities that exist for the system. The secure, real-time monitoring of water and wastewater treatment facilities is of significant importance to industry, to local municipalities and, potentially, to national security. Keeping our drinking water safe should be a national priority, and we believe we can contribute to this initiative."
About Open Energy
Open Energy Corporation (OTCBB: OEGY) is a renewable energy company focused on the development and commercialization of a portfolio of technologies capable of delivering low-risk, cost-competitive electricity, fresh water and related commodities on a global basis. Open Energy offers building-integrated photovoltaic (PV) roofing materials for commercial, industrial, and residential markets. Marketed under the trade name SolarSave(R), the product line includes roofing membranes, roofing tiles, custom architectural PV glass, and balance of systems equipment such as inverters and combiners, and SolarEye(TM) system monitoring equipment. The company's mission is to enhance life by harnessing the power of the sun. For more information on Open Energy Corporation, visit www.openenergycorp.com.
About Kobelco Eco-Maintenance, a subsidiary of Kobelco Eco-Solutions
Kobelco Eco-Maintenance, a subsidiary of Kobelco Eco-Solutions, has been established as a maintenance company of the equipments installed by the parent company. The parent company, Kobelco Eco-Solutions Co., Ltd., was formed in 2003 as an integrated entity for general environmental solutions, consolidating the Environmental Business Division of Kobe Steel, Ltd. and Shinko Pantec Co., Ltd. Kobe's Environmental Business Division has a proven base in sewage systems and municipal waste incineration facilities, while Shinko Pantec is a well established manufacturer of large-scale environmental equipment mainly for use in water treatment facilities. The company provides a full range of water related technologies including water purification, sewage treatment, ultra-pure water production equipment for the IT industry, sludge volume reduction and incineration systems, and water recycling. The parent company, Kobelco Eco-Solutions, was established in 1954, and is currently listed on the Osaka Securities Exchange.
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, customer demand for its products, the Company's ability to scale up manufacturing to meet demand, the Company's competitive position and other factors over which Open Energy Corporation has little or no control.
CONTACT:
Open Energy Corporation
Investor Relations
Boundary Point Investor Relations
Brad Long
P: 866 469 3649
blong@openenergycorp.com
Public Relations
Open Energy Corporation
Songul Atacan
P: 858 794 8800
satacan@openenergycorp.com
SOURCE: Open Energy Corp.
mailto:blong@openenergycorp.com
mailto:satacan@openenergycorp.com
