3.1MW of Rooftop Arrays Adds to Announced Newcastle, ON Project
BURNABY, BC, Jan. 7 /CNW/ - Day4 Energy Inc. (TSX: DFE), a leading supplier of high performance, cost-effective solar electric solutions, today announced that it has entered into a supply contract to provide a total of 5.1 megawatts (MW) or 23,000 modules to Ontario's Hybridyne Power Systems Canada Inc., a 47.5 percent owned affiliate of Atlantic Wind and Solar Inc. (OTC: AWSL), which specializes in the design, construction and management of utility-scale renewable energy parks. The 5.1MW suite of projects consists of the 2.0MW Newcastle Solar Energy Park, which was recently announced by AWSL, along with 3.1MW of rooftop arrays for the Toronto area.
Located approximately 80 kilometers east of Toronto, the 2.0MW Newcastle ground mounted energy park will be the largest array from the group of projects and is expected to break ground in Q2 of 2010. The 10-acre Solar Energy Park(C) will combine approximately 8,900 highly efficient Day4 60MC-I Guardian solar modules with eight of Hybridyne's HPE Hyperwatt 250 XLS Professional Series PV inverters to efficiently capture and deliver enough clean energy to power more than 360 homes each year. It will be one of Canada's larger photovoltaic (PV) installations upon its completion in late 2010.
The additional 3.1MW of Day4 modules to be supplied above and beyond the initial 2.0MW Newcastle announcement will be utilized by Atlantic Wind and Solar on a variety of industrial and commercial flat roof arrays in the Toronto area.
"We are excited about working together with Hybridyne, one of our long standing channel partners in Canada, towards providing Ontario customers with industry leading PV energy generation solutions," said George Rubin, president of Day4 Energy. "This supply agreement is a result of our growing emphasis on the Canadian as well as overall North American market. It is also an indicator of the increasing volume of business opportunities that are emerging in this market."
"Quite simply, we intend to build one of the most efficient Solar Energy Parks(C) in the world," said Thomas Cleland, president of Hybridyne Power Systems Canada Inc. and chief technical officer of Atlantic Wind and Solar. "By working exclusively with Day4 Energy's unique panels and using our own high performance Hyperwatt XL PV inverter technology, the entire system is designed to garner much more usable electricity from the sun, allowing us to best utilize our allotted real estate and regional solar resource."
The Day4 solar module is based on the company's proprietary Day4 Electrode technology, an innovative approach to module construction that directly replaces decades-old soldering methods. The result is a high-quality Day4 solar electric product with higher performance, longer life, improved aesthetics and lower cost.
Hybridyne's advanced inverter technology is specifically designed to work with the Day4 Energy modules to convert direct current (DC) energy from the sun into usable alternating current (AC) electricity for the Ontario utility grid. Based on Hybridyne's data this advanced inverter technology provides up to 30 percent more kilowatt hours of clean, renewable electricity when compared with conventional inverter technology. Thorough internal testing for the past few months in Ontario has confirmed outstanding performance of the Day4 modules and the inverter technology.
About Day4 Energy Inc.:
Day4 Energy Inc. is a Canadian company dedicated to providing high performance photovoltaic (PV) solutions for residential, commercial and utility scale installations. By fundamentally improving on the design and assembly of solar cells and modules, the Company produces unique PV panels of high power density, increased lifetime and uncompromised aesthetic appearance. Day4 Energy partners with international technology leaders to develop and deliver IEC- and UL-certified solar products to customers around the world. Day4 Energy is listed on the Toronto Stock Exchange under the symbol "DFE".
For more information, please visit www.day4energy.com.
About Atlantic Wind and Solar Inc.:
Through focused management, strong R&D, state-of-the-art proprietary technology, exclusive licenses, and joint ventures, Atlantic Wind & Solar Inc. is poised for rapid growth at the forefront of the massive global shift towards environmentally friendly, economical renewable energy. The Company is positioned to achieve significant inroads into key sectors of the annual $200 billion renewable energy boom that is accelerating across North America and around the world.
Since AWSL's June 2009 acquisition of Hybridyne Power Systems Canada, the Company has been actively pursuing a number of exciting renewable energy projects that portend a successful 2010 with the achievement of several corporate milestones. The Hybridyne acquisition, followed by the revolutionary Green Energy Act introduced by Canada's most populous province, Ontario, has led to a strong focus by Atlantic Wind and Solar Inc. on the exciting potential for growth in the rooftop solar business across Ontario, and has quickened the pace of its province-wide marketing efforts in that regard.
For more information please visit: www.atlanticwindandsolar.com.
Forward Looking Statements
This news release contains forward-looking information. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
SOURCE Day4 Energy Inc.
For further information: For further information: Therese Hayes, Head, Corporate Development, Day4 Energy Inc., (604) 296-0434, firstname.lastname@example.org; Agnieszka Pozniak, Media Contact, Day4 Energy Inc., (604) 296-0415, email@example.com