FAIRFIELD, Calif., Mar. 21, 2007 /PRNewswire/ -- Meyer Corp. today dedicated the largest solar-electric power system in Solano County, Calif. This 580kW system, mounted on the roof of Meyer's headquarters, was designed, developed and deployed by PowerLight Corp., a subsidiary of SunPower Corporation (NASDAQ: SPWR). The solar power system will reduce Meyer's utility power consumption by more than 60 percent.
"It's terrific that Meyer, the largest cookware company in the U.S., has taken this smart approach to powering its operations," said Harry Price, mayor of Fairfield, Calif. "It makes good sense to harness the region's abundant sunshine by deploying solar."
"The positive impact that our new solar energy system will have on the environment is truly remarkable," said Stanley Cheng, chairman and CEO of Meyer Corp. "We're delighted to have achieved this new level of our corporate culture of adapting eco-friendly practices in the workplace. We will continue to look for ways to reduce our carbon footprint."
"Meyer Corporation's solar investment will immediately and directly benefit its bottom line," said Rick Whisman, director of West Project Sales at PowerLight. "Meyer joins a growing number of businesses harvesting the energy landing on their rooftops each and every day."
Meyer Corporation's onsite solar power system covers 51,000 square feet of rooftop. Over the next 30 years, Meyer's use of solar power will reduce emissions of carbon dioxide by more than 7,000 tons, the equivalent to planting nearly 2,000 acres of trees, or not driving 17 million miles on California's roadways.
About Meyer Corp.
Meyer Corporation, U.S., is based in Vallejo, California, and is one of the fastest growing cookware companies in the U.S. throughout the 90's. Meyer has become the largest distributor of range-top cookware in the U.S. There are many Meyer affiliates around the world. Meyer specializes in the distribution of metal cookware and other kitchen products. Our cookware is made by our own affiliate factories throughout the world, including Italy, Thailand, and China. We focus on developing high quality, top performing cookware, utilizing cutting edge technology and designs. We offer cookware made from stainless steel, hard-anodized aluminum, and nonstick aluminum. Offering different brands enable us to distribute different levels of cookware.
PowerLight is a leading global provider of large-scale solar power systems, delivering more than a decade of experience and financial value to commercial, utility, public sector and residential customers worldwide. PowerLight designs, deploys and operates the largest solar power systems in the world through market-leading innovation and exceptional customer service. For more information, please visit http://www.powerlight.com/. PowerLight is a subsidiary of SunPower Corp.
SunPower Corp. (NASDAQ: SPWR) designs, manufactures and markets high- performance solar electric technology worldwide. SunPower's high-efficiency solar cells and panels generate up to 50 percent more power per unit area than conventional solar technologies and have a uniquely attractive, all-black appearance. SunPower's PowerLight subsidiary is a leading global provider of large-scale solar power systems, with over 100 megawatts installed. For more information on SunPower please visit the SunPower website at http://www.sunpowercorp.com/. SunPower is a majority-owned subsidiary of Cypress Semiconductor Corp. (NYSE: CY).
Forward Looking Statement
This press release contains forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward looking statements are statements that do not represent historical facts. We use words such as "believes," "plans" and "expects" and similar expressions to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements related to the planned construction of homes by Lennar, the expected energy savings enjoyed by homeowners, and the benefits of the recently completed transaction between SunPower and PowerLight. These forward-looking statements are based on information available to us as of the date of this release and current expectations, forecasts and assumptions and involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. Such risks and uncertainties include a variety of factors, some of which are beyond our control. In particular, risks and uncertainties that could cause actual results to differ include construction difficulties or potential slowdowns in the residential construction or real estate markets; potential for competition from other providers of conventional or alternative energy systems to the residential market; difficulties encountered in integrating the merged businesses; the possibility that expected synergies and cost savings will not be obtained; the uncertainty of business and economic conditions and growth trends in the solar power industry; our ability to obtain adequate supply of polysilicon and silicon ingots to manufacture our products and the price we pay for such material, our ability to ramp new production lines, our ability to realize expected manufacturing efficiencies, the possibility of production difficulties, the risk of continuation of supply of products and components from suppliers to PowerLight, including competitors of SunPower, and the continuation of existing large-scale PowerLight customer projects. These and other risk factors are contained in documents that the company files with the SEC, including the Form 10-K for fiscal 2005 and its recent 10-Qs, as well as filings we make with regard to the PowerLight transaction and PowerLight. These forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we are under no obligation to, and expressly disclaim any responsibility to, update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
SunPower is a registered trademark of SunPower Corp. PowerLight is a registered trademark of PowerLight Corp. Cypress is a registered trademark of Cypress Semiconductor Corp. All other trademarks are the property of their respective owners.
First Call Analyst:
SOURCE: SunPower Corporation
CONTACT: Julie Blunden, +1-408-240-5577, or Susan DeVico,
+1-510-339-1527, both of SunPower Corp.