EAST WINDSOR, N.J., Oct. 23, 2007 /PRNewswire/ -- Shiseido America Inc. and SunPower Corporation (NASDAQ: SPWR), a manufacturer of high-efficiency solar cells, solar panels and solar systems, are today dedicating a 699-kilowatt solar-electric power system installed by SunPower on the roof of Shiseido's East Windsor, N.J. facility. The project is one of the largest single-roof solar power installations in New Jersey.
In addition to the solar-power system, SunPower also assisted Shiseido in implementing energy-efficient lighting upgrades at the facility. Shiseido estimates that by combining improved energy efficiency with solar power, the company will reduce its electric utility costs by greater than 40 percent, or more than $100,000 per year.
"As a company that promotes environmentally conscious practices across all aspects of our business, we were very interested in using solar energy to power our operations. But we needed to know that the economics of solar would also make sense," said Ed Houlihan, vice president of Shiseido America Inc. "SunPower worked with us to ensure the technological and financial success of the project. The payback period is expected to be less than six years -- a solid return on investment for equipment that will last more than 25 years."
SunPower also assisted Shiseido in the sale of solar renewable energy credits to New Jersey's load serving utilities (LSEs), helping the LSEs meet renewable portfolio standards required by the State.
The Shiseido installation utilizes the SunPower® T10 Solar Roof Tile, which is a non-penetrating, lightweight system that tilts at a 10-degree angle to increase energy capture.
"Shiseido's decision to maximize the size and efficiency of its solar system underscores the company's commitment to sound business practices and preserving the environment," said Tom Leyden, managing director of SunPower Corporation Systems' East Coast operations. "We are very pleased that Shiseido is now generating its own clean, renewable power, and enjoying the financial benefits of that decision."
SunPower Corporation (NASDAQ: SPWR) designs, manufactures and delivers high-performance solar-electric systems worldwide for residential, commercial and utility-scale power plant customers. SunPower high-efficiency solar cells and solar panels generate up to 50 percent more power than conventional solar technologies and have a uniquely attractive, all-black appearance. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe and Asia. For more information, visit http://www.sunpowercorp.com/. SunPower is a majority-owned subsidiary of Cypress Semiconductor Corp. (NYSE: CY).
Shiseido America Inc., a subsidiary of the Japanese cosmetics corporation Shiseido Company LTD, established its corporate operations in East Windsor, NJ in 1998. Shiseido, Japan's largest cosmetics maker, manufactures makeup and skin care products for men and women. It also makes toiletries, sun care products, fragrances, professional salon hair care products, pharmaceuticals, and fine chemicals. Upscale brands include, Shiseido and Cle de Peau Beaute. Mid- and mass-market brands include, Ayura and Aquair. Other interests include specialty fragrance, hair, and skin care salons. Shiseido manufactures and distributes their products for the global market. Their business practices statement, titled the Shiseido Way, summarizes the corporations' global commitment:
-- To respect and comply with all laws in regions in which they do business, -- To the safety and preservation of the natural environment, -- To the cooperation with local communities and harmony with international society. 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 "expect," estimate," and "will" and similar expressions to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, the company's plans and expectations regarding reducing electricity costs by more than 40 percent, estimated savings of $100,000 per year, and expected payback period being less than six years. 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 risks associated with the system owner's actual energy consumption rate, unexpected changes in utility service rates, and other risks described in our Quarterly Report on Form 10-Q for the quarter ended July 1, 2007, and other filings with the Securities and Exchange Commission. 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. 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: Chantelle Karl of Bite Communications,
Chantelle.Karl@bitepr.com, +1-212-857-9382, for SunPower Corporation; or
Ingrid Ekstrom of SunPower Corporation, +1-415-531-2250,
Web site: http://www.sunpowercorp.com/