Date: Tuesday, June 26, 2007
Trading Symbol: OTCBB:OEGY
Mayor of San Diego Announces Creation of New Clean Tech Trade Association
Open Energy's CEO Named to Executive Committee of the Board
SOLANA BEACH, CA, Jun 26, 2007 (MARKET WIRE via COMTEX News Network) -- Open Energy Corp. (OTCBB: OEGY), a renewable energy company focused on solar technologies, wishes to advise that Mayor Jerry Sanders today announced the official formation of CleanTECH San Diego, a non-profit trade association that will foster and build an energy and environmental technology cluster in the greater San Diego region. The organization will be incubated at CONNECT, San Diego's globally recognized technology and business accelerator.
The Mayor said, "CleanTECH San Diego will nurture and accelerate the growth of companies with environmentally friendly technologies and foster sustainable development and green enterprises. That will allow San Diego to reduce our dependence on foreign oil, combat the effects of global warming and create cleaner, safer workplaces and living environments."
Interim Chairman of CleanTECH San Diego, Duane Roth, said, "CONNECT's commitment to creating and sustaining the growth of the region's innovative technology-based businesses makes the founding of this association in San Diego a necessity. CleanTECH San Diego will identify the key challenges facing emerging renewable energy businesses in the San Diego region and pursue effective solutions." Roth is CEO of CONNECT.
David Saltman, CEO of Open Energy, adds, "As a representative of an environmental company headquartered here, I am honored to join the CleanTECH Board of Directors, and to support its agenda. San Diego is one of the most beautiful and biologically diverse regions in the world, with internationally recognized biotech and IT companies, renowned universities and research institutions, and progressive communities that can work together to generate jobs and protect the environment. Clean tech is here to stay, and San Diego can lead the way."
The launch announcement for CleanTECH San Diego will be made at William Lyon Home's "Green Community" in Clairemont Mesa, San Diego on Thursday, June 28. The community was inspired by the city's Sustainable Building Policy Expedite Program and features Open Energy's SolarSave(R) photovoltaic tiles on all 77 units. The tiles convert sunlight directly into electricity and deliver about 50% of the power requirements of the development. Other features include tankless water heaters and more efficient heating and ventilation systems.
About Open Energy (OTCBB: OEGY)
Open Energy Corporation 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, combiners, and accessories. The Company also holds an exclusive, worldwide license to a solar thermal technology called SunCone(TM) CSP (Concentrating Solar Power), which is currently being developed to generate potable water and distributed power. The company's mission is to enhance life by harnessing the power of the sun. For more information on Open Energy Corporation, please visit www.openenergycorp.com.
About CleanTECH San Diego
CleanTECH San Diego is a 501c6 committed to form and foster and energy and environmental technology cluster in the San Diego region. CleanTECH membership consists of City and County governments, research institutions, industry, professional service providers, and capital providers. The purpose of CleanTECH San Diego is to nurture and accelerate the growth of the region's innovations for environmental friendly technologies and sustainable development. The organization will leverage the region's knowledge-base and expertise in life sciences, information technology, materials sciences, and the building trades to expand the cluster. Visit www.connect.org for more information.
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 Open Energy 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 execution of definitive agreements related to the transactions described within this release, the ability of either or both party's to perform under such definitive agreements, either company's ability to scale up manufacturing to meet demand, and other factors over which Open Energy has little or no control. Open Energy undertakes no obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
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
CONTACT:
CleanTECH San Diego
c/o Camille Sobrian, COO
CONNECT
P: 858 249 4996
csobrian@connect.org
SOURCE: Open Energy Corp.
mailto:blong@openenergycorp.com
mailto:satacan@openenergycorp.com
mailto:csobrian@connect.org
