Andalay Solar Partners with Highpower for Commercializing Viable Energy Storage Systems
Andalay Solar (OTCQB: WEST), a leading manufacturer of integrated solar power systems, announced a collaboration with Highpower International, Inc. (Nasdaq: HPJ), a developer, manufacturer, and marketer of lithium and nickel-metal hydride (Ni-MH) rechargeable batteries, to launch a pilot project that will provide technologically advanced energy storage systems for Andalay Solar customers and enhance system performance while keeping the cost reasonably affordable and viable.
Given the relatively high cost of the power grid, this energy system is designed to help customers avoid and reduce utility grid fees by going "off-grid" or employing a hybrid system. Highpower's energy storage system has six 2.4KWh lithium-ion battery modules and an output inverter that allows for a powerful energy load capacity and expandability. For the hybrid system, when combined with Andalay's integrated solar system, energy will be generated both by the solar system as well as by the utility grid network. With both energy inputs, the energy output to the home is expected to provide enough power to sustain household and electronic appliances and all power outlets.
Andalay selected Highpower for their strong energy storage R&D capability and their leadership and commitment to clean energy manufacturing, which includes waste recycling processes, environmentally safe disposal, and industry leading design, manufacturing and testing of storage devices.
"Energy storage has become an important focus of the solar industry and will be an essential component of system design and installation," said Steven Chan, CEO of Andalay Solar. "This pilot project in solar energy storage is an example of Andalay's determination to stay at the leading edge of the market to build upon our patented technology, while maintaining a principle focus on our customers' solar energy needs, cost-savings, and return on investment."
"We are excited to collaborate with Andalay Solar," commented Bryan Bai, Vice President of Sales at Highpower International. "Andalay Solar's extensive technical know-how, first-hand experiences and understanding about the demand from end customers in the solar market is ideal for commercializing our advanced storage solution with enhanced functionalities and performance, while keeping costs affordable to a wide range of market needs in North America."
About Highpower International, Inc.: (Nasdaq: HPJ)
Highpower International, Inc., founded in 2001, is a clean energy company focused on the development, manufacturing and marketing of nickel-metal hydride (Ni-MH) and lithium-ion (Li-Ion) rechargeable batteries and related products for both consumer and industrial applications. Headquartered in Shenzhen, China, Highpower has four wholly-owned subsidiaries in the Guangdong Province engaged in the development of Ni-MH batteries, lithium batteries, power supply system manufacturing and design business. By recycling waste batteries and reprocessing raw materials for reuse in battery production, Highpower demonstrates a deep commitment to developing, manufacturing and promoting clean technology products worldwide.
About Andalay Solar: (OTCQB:WEST)
Founded in 2001, the Company is a designer and manufacturer of integrated solar power systems. The Company has been a pioneer in the concept of integrating the racking, wiring and grounding directly into a solar panel. The Company's AC solar panel reduces the number of components for a rooftop solar installation by approximately 80% and lowers labor costs by approximately 50%. This AC panel, which won the 2009 Popular Mechanics Breakthrough Award, has become the industry's most widely installed AC solar panel. The Company currently sells its new generation "Instant Connect®" products in both AC and DC format which provide the best combination of safety, performance and reliability. For more information on the Company, visit www.andalaysolar.com.
Forward-Looking and Cautionary Statements - Safe Harbor
Statements made in this release that are not historical in nature, including those related to market acceptance of products, constitute forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "expects," "projects," "plans," "will," "may," "can," "anticipates," believes," "should," "intends," "estimates," and other words of similar meaning. The statements are subject to risks and uncertainties that cannot be predicted or quantified, and our actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks associated with being able to launch a pilot project and related products, the ability to achieve performance and cost objectives and the ability to reduce or eliminate utility grid costs with the combined Andalay and Highpower solution. All forward-looking statements included in this release are made as of the date of this press release, and Andalay Solar and Highpower assume no obligation to update any such forward-looking statements.