Strategic Partnership with Corus for Building Integrated Solar Power Products
PowerFilm, Inc. (“PowerFilm” or the “Company”), the developer and manufacturer of thin, flexible solar panels, today announces that it has entered into a strategic partnership with Corus Group plc (“Corus”) to develop, manufacture, and distribute integrated solar roofing products for the building industry. Corus, the leading international steel and aluminium products and services group with annual revenues of #10 billion, is, through its Distribution & Building Systems Division, one of the largest metal roofing and wall cladding systems manufacturers in the UK and Europe.
PowerFilm and Corus have collaborated for some time and have now formalised their relationship through a signed letter of intent. This strategic partnership brings together the well established presence of Corus’s Kalzip aluminium roof and wall cladding products with the ultra lightweight, thin, flexible nature of PowerFilm solar panels.
The combination of each company’s strengths is aimed at developing and producing market leading products for the integration of solar energy generation capability into building structures. The strategic partnership with Corus represents an important step forward in PowerFilm’s plans to launch building integrated solar power products next year, as outlined in the Company’s 2006 First Half Results announced on 26th September.
Mike Coon, COO and CFO of PowerFilm, said:
“We are pleased to be working together with Corus and its Kalzip roofing products as an important part of our building integrated solar power products strategy. Our relationship leverages the strengths of each of our product lines.”
For further information, please contact:
PowerFilm, Inc. +1 (515) 292 7606 x102
Frank Jeffrey, CEO Mike Coon, COO and CFO
M:Communications 020 7153 1539
Patrick d’Ancona, Eleanor Williamson
PowerFilm, Inc. (AIM:PFLM), founded in 1988, is a developer and manufacturer of thin, flexible solar panels. The Company listed its shares on the AIM market of London Stock Exchange plc in May 2006, raising approx. $18 million to expand production capacity to meet growing product demand. The Company’s principal target markets are portable and remote power, military, and building integrated solar power. PowerFilm has developed a proprietary thin film manufacturing process which consists of roll-to-roll manufacturing of solar cells using an amorphous silicon sunlight absorber layer deposited on a flexible plastic substrate. This proprietary manufacturing process includes an automated low-cost interconnection of individual solar cells within the overall solar panel. The thin plastic substrate on which the Company’s solar panels are manufactured is as thin as 1/1000th of an inch (0.025 mm) thick, making them much thinner and more lightweight, flexible and durable than rigid crystalline panels, which enables easier integration and allows for simple, robust, low cost installations.