Akeena Solar Expands Operations to Palm Springs.Site Marks Fifth New Office This Year LOS GATOS Los Gatos (lôs gä`tōs, lŏs, găt`əs), city (1990 pop. 27,357), Santa Clara co., W Calif.; inc. 1887. It is an affluent residential community and health resort. , Calif. -- Akeena Solar, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AKNS), a leading designer and installer of solar power systems, announced it has begun operations in Palm Springs, California Palm Springs is a famed Riverside County, California desert resort city, approximately 110 miles (177 km) east of Los Angeles and 140 miles (225 km) northeast of San Diego. As of the 2000 census, the city population was 42,807. . The new Palm Springs location marks the fifth new office Akeena has opened this year to accommodate the rapidly growing demand for solar power from both residential and commercial customers. Akeena now has seven locations serving California and one in the Northeast. Earlier this year, Akeena acquired Alternative Energy Inc., a solar company in California's Wine Country. In addition, in the past six months the company has opened new offices in Orange County, Bakersfield and Manteca. "The 'climate' for our solar business is outstanding in Palm Springs," said Akeena CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Barry Cinnamon. "Not only is it sunny almost all year round, but electric rates are among the highest in the state and the demographics match our customer profile. Even before this announcement, we've signed up customers in Palm Springs." The new office is located at 3700 Tachevah Drive, in downtown Palm Springs. Cinnamon continued, "Located across from the airport, this new office gives us a great retail presence. In addition, we are pleased with the ramp-up of our other new offices, and are confident the sales and marketing efforts that have helped launch those locations will be as successful in Palm Springs. We will continue to seek out similar opportunities to expand our footprint in 2007 and beyond." The California Solar Initiative The California Solar Initiative program pays incentives to solar photovoltaic (PV) projects in the three California Investor-Owned Utilities service territories. The program was authorized by the California Public Utilities Commission (CPUC) and by the Senate Bill 1 (SB 1): "It makes more economic sense for customers to buy 30 years worth of clean energy up front than to rent energy from a utility company for the next 30 years. Historical data has shown consistent and persistent rate hikes over the past 25 years - and with continued shortages of fossil fuels it is inevitable that electric rates will continue to increase," Cinnamon said. About Akeena Solar, Inc Founded in 2001, Akeena Solar's (OTCBB:AKNS) philosophy is simple: We believe producing clean electricity directly from the sun is the right thing to do for our environment and economy. Akeena Solar has grown to become one of the largest national installers of residential and small commercial solar power systems in the United States, serving customers directly in California, New Jersey, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Connecticut and Pennsylvania. For more information, visit Akeena Solar's website at www.akeena.net. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statements made in this release that are not historical in nature constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements can be identified by the use of words such as "expects," "plans," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, the effectiveness, profitability, and marketability of such products, the ability to protect proprietary information, the impact of current, pending, or future legislation and regulation on the industry, the impact of competitive products or pricing, technological changes, the effect of general economic and business conditions. All forward-looking statements included in this release are made as of the date of this press release, and Akeena Solar assumes no obligation to update any such forward-looking statements. |
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