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Astropower's Building-Integrated Photovoltaics To Power Nation's First Environmentally Sustainable Residential High-Rise Building
Astropower's Building-Integrated Photovoltaics To Power Nation's First Environmentally Sustainable Residential High-Rise Building
Published 06-01-01
Submitted by AstroPower, Inc.
AstroPower, Inc. (NASDAQ: APWR) announced today that it has been chosen to provide a building-integrated solar electric power system for a residential high-rise building in New York City's Battery Park. The 30-kilowatt system will consist of AstroPower's advanced solar cells and modules. This innovative system, which is expected to produce up to five percent of the building's electricity, will also incorporate AstroPower's custom-made Building-Integrated Photovoltaic (BIPV) modules.
"BIPV is a value-added opportunity," said Jörn Jürgens, AstroPower's BIPV Product Manager. "In addition to generating electricity, the BIPV modules actually replace conventional building materials. In this case, the modules will become the façade of the building. This illustrates how AstroPower is able to adapt our technologies to meet the needs of award-winning architects and developers."
The Battery Park high-rise will also feature a roof-mounted 20-kilowatt array, consisting of AstroPower modules. In addition, a custom-made fully functional canopy of translucent glass-on-glass modules at the building's entrance will welcome both residents and guests.
Located along the Hudson River, this environmentally sustainable building project meets the clearly defined residential environmental guidelines of the Hugh L. Carey Battery Park City Authority. "Among these guidelines," said Timothy Carey, President and CEO at the Battery Park City Authority, "is a requirement to provide on-site, non-polluting, renewable energy technologies to reduce the environmental impacts associated with energy generation and consumption." Carey added that the goal of the program is to ultimately generate 100% of the electricity on site.
Scheduled for completion in the fall of 2002, the project received funding from the US Department of Energy and the New York State Energy Research and Development Authority (NYSERDA). In addition, the building's owner, Albanese Development Corporation, is eligible to apply for tax credits under the New York State Building Tax Credit program.
"We are proud to participate in such an innovative project," said Dr. Allen Barnett AstroPower's President and CEO. "As the nation's first environmentally sustainable residential high-rise, the building serves as a benchmark for developers, builders, and entire communities."
Our BIPV products - and our ability to customize to meet the needs of our customers - exemplifies AstroPower's dedication to continuous product innovation," Barnett said. "By integrating our solar cells and modules into a customized, building-integrated façade in our nation's largest city, we further the growth of the solar electric power industry as a whole. BIPV is an important opportunity for building owners."
The project, developed by Albanese Development Corporation, a privately held real estate development company, and Northwestern Mutual Life Insurance Company, is designed by Cesar Pelli & Associates, an award-winning full-service architectural firm, with Schuman Lichtenstein Claman Efron, Architects as architect. Leading U.S. builder Turner Construction Company is serving as construction manager, while New York-based Alternative Power is the solar contracting firm assigned to the project.
The groundbreaking ceremony for the high-rise building occurred Friday afternoon, June 1, 2001.
About AstroPower
Headquartered in Newark, Delaware, AstroPower is the world's largest independent manufacturer of solar electric power products, and one of the world's fastest growing solar electric power companies. AstroPower develops, manufactures, markets and sells 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 December 2000 AstroPower was added to the S&P SmallCap 600. In February 2001, AstroPower was ranked 39th on Business Week's Top 50 S&P Small Cap Company list for one- and three-year performance. For more information, read the AstroPower Story.
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.
