Date: Tuesday, October 10, 2006
Trading Symbol:OTC BB: OEGY
Ponderosa Homes to Offer SolarSave PV Tiles as a Premium Option
At their 240 home Gallery project in Palm Desert, California
Open Energy Corporation, (OTC BB: OEGY), a renewable energy company focused on the development of solar technologies capable of producing renewable energy, fresh water and related resources, has joined with Ponderosa Homes to offer solar photovoltaic systems as an option at their new Southern California community.
This upscale development features a privacy-gated collection of single level homes from 2,300 to 3,500 square feet, and is located in Palm Desert, California. The SolarSave systems would range in size from 1000 watts to 3000 watts, depending upon the particular household requirements.
“Ponderosa is one of the premier home builders in the State and we are pleased to help them meet their green building commitments,” said David Saltman, CEO of Open Energy.
Cindy Douglas, VP of Sales and Marketing for Ponderosa added, “The SolarSave product integrates beautifully with our tile rooflines while providing high density renewable energy to the home owner. We are proud to offer this feature as part of our option package.”
Other environmental features of the project include ComfortWise™ energy efficient systems which exceed California’s energy standards by at least 15%, two separate HVAC zones for more efficient heating and air conditioning, R-38 insulation in the attic areas, low water usage shower heads and toilets, dual-glazed windows and sliding doors with Low-E glass.
The SolarSave Tiles were sold and will be installed by Emerald Roofing through the Eagle Roofing channel, which is the authorized distributor on the project. The development is expected to be ready for sales during the first quarter of calendar 2007.
About Open Energy Corporation
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. The Company’s mission is to harness the power of the sun to meet the growing resource demands of sustainable 21st Century development.
About Ponderosa Homes
Ponderosa Homes is dedicated to creating enduring new home neighborhoods. Since its founding in 1968, the privately held company has built a legacy of successful communities and satisfied homeowners throughout California. Based in Pleasanton, CA since 1985, Ponderosa Homes has earned a reputation for integrity and corporate citizenship. Coupled hand-in-hand with meticulous construction, innovative design and state-of-the-art materials are some of the most stringent inspection standards in today’s home building industry. Ponderosa Homes is committed to achieving the highest level of Customer Satisfaction through building homes of lasting value.
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.
CONTACT:
Integrated Corporate Relations, Inc.
John Mills (Investor Relations)
(310) 395-2215
jmills@icrinc.com
Michael Fox (Media)
(203)682-8230
mfox@icrinc.com
Ponderosa Homes
Cindy Douglas
VP Sales and Marketing
(760) 360-2109
CDouglas@ponderosahomes.com
