October 23, 2008
Solyndra, Inc. Signs Sales Contract With GeckoLogic for Approximately $250 Million
Solyndra, Inc., a manufacturer of proprietary photovoltaic (PV) systems designed to optimize solar electricity production on commercial rooftops, announced it has signed a new long-term sales contract with solar integrator GeckoLogic GmbH, based in Wetzlar, Germany. The Euro-based contract value equates to approximately $250 million and extends through 2012. The GeckoLogic contract is part of Solyndra's previously-announced total contractual backlog of approximately $1.2 billion. The solar panels for these contracts will be manufactured at Solyndra's facilities in Fremont and Milpitas, California.
"We are very pleased to announce this relationship with GeckoLogic. Their European expertise and emerging North American capabilities should enable exceptional growth in the fastest growing markets for commercial scale solar," said Solyndra founder and CEO Chris Gronet. "We expect that the Solyndra system's ease and speed of installation can enable GeckoLogic crews to annually outfit significantly more commercial rooftops with solar."
Solyndra's thin film PV system is designed to generate significantly more solar electricity on an annual basis from typical low-slope commercial rooftops while uniquely providing much lower installation costs than conventional PV flat panel technologies.
"Solyndra's light system weight and low wind loading enables our firm to install solar on a large number of rooftops that otherwise could not support traditional PV systems," said Steve Gyoerffy, CEO and co-founder of GeckoLogic. "Additionally, the non-penetrating mounting system gives my customers piece of mind that the roof will never leak."
GeckoLogic is a solar system design and engineering firm dedicated to designing and installing the highest-performing solar photovoltaic (PV) systems for homes, businesses, government facilities and larger commercial buildings. With over 1,400 PV systems installed, GeckoLogic's certified engineers are highly experienced in designing PV systems with the highest energy efficiency. The GeckoLogic engineers develop reliable energy production systems with the highest return on investment for their customers. Learn more at www.geckologic-usa.com.
Solyndra designs and manufactures photovoltaic systems, comprised of panels and mounting hardware, for the commercial rooftop market. Solyndra employs high volume manufacturing based on proven technologies and processes to meet the needs of the global solar market. Using proprietary cylindrical modules and thin-film technology, Solyndra systems are designed to provide the lowest installed cost per system and the highest solar electrical energy output for typical low slope commercial rooftops. Headquartered in Fremont, California, Solyndra operates a state-of-the-art 300,000 square foot fully-automated manufacturing complex. Learn more at www.solyndra.com.