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Technology Stocks : Astropower (APWR) -- Ignore unavailable to you. Want to Upgrade?

To: Yogizuna who wrote (94)	8/31/2000 8:10:46 AM
From: Art Baeckel	Read Replies (2) \| Respond to of 214

AstroPower Powers Up Large California Convention Centers PR Newswire - August 29, 2000 11:20 Jump to first matched term Solar Power Systems to Provide Valuable Peak Electricity Amidst California Power Crunch NEWARK, Del., Aug. 29 /PRNewswire/ -- The Los Angeles Convention Center is now generating its own electricity with solar panels supplied by AstroPower, Inc. (Nasdaq: APWR). The Anaheim Convention Center will soon be doing the same, with the installation of a similar system this fall. These two micro-generation plants are designed to produce power on-site during peak demand periods when the electricity supply is most scarce and, consequently, most expensive. The solar power panels were purchased separately by the Cities of Los Angeles and Anaheim via their own municipal utilities, the Los Angeles Department of Water and Power and Anaheim Public Utilities. "Rising power bills and threats of blackouts in California have been front page news all summer," said AstroPower President Dr. Allen M. Barnett. "Clearly, more power generation is needed, and solar power is an ideal solution. Solar electric power is clean, renewable, non-polluting, and it provides electricity during hot summer days when utility power is in shortest supply." The first phase of the LA Convention Center project, a 120 kW system, was installed in time to provide power for the Democratic National Convention. The system has over 2,000 solar panels, and is designed to blend in with the Convention Center architecture. Panels are mounted on a highly visible curving wall overlooking the busy Harbor Freeway in downtown Los Angeles. The Los Angeles Department of Water and Power designed the support structure and installed the power system as part of a 1.8 MW contract with AstroPower valued at $6 million. When the next phase is completed this fall, the LA Convention Center will be the largest solar-powered facility in North America. The Anaheim Convention Center project will use over 900 AstroPower panels, and will be rated at 100 kW. These larger panels are being integrated into PowerGuard roofing tiles manufactured by PowerLight Corporation of Berkeley, CA. These roofing tiles generate on-site electricity, and add roof insulation. They also lower building cooling and heating needs and extend the roof's life. "Our solar electric power systems are also available for homes and businesses," said AstroPower Director of North American Business Howard J. Wenger. "They're simply mini versions of the large Convention Center projects. We're starting to see some growth in sales to consumers who want to make their own clean electricity, reduce the impact of utility rate hikes, and have back-up power in the event of blackouts." About AstroPower Headquartered in Newark, Delaware, AstroPower is the largest U.S.-owned manufacturer of solar electric power products, and one of the world's fastest growing solar electric power companies. AstroPower develops, manufactures, markets and sells photovoltaic (PV) solar cells, modules, panels and systems for generating solar electric power. Solar electric power systems provide a clean, renewable source of electricity in both off-grid and on-grid applications. In Nov. 1999, AstroPower was selected by Industry Week magazine as one of the 25 most successful small manufacturers in the U.S. For more information, please visit www.AstroPower.com. This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, as described in the Company's registration statement and periodic reports filed with the Securities and Exchange Commission. As a result, there can be no assurance that the Company's future results will not be materially different from those projected. The projections contained herein speak only of the Company's expectations as of the date of this press release. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which such statement is based. SOURCE AstroPower, Inc. /CONTACT: Michael Wright, Director, Marketing Communications of AstroPower, 302-366-0400, Ext. 195/ /Web site: astropower.com / (APWR)