Akeena Solar, Inc. (NASDQ: AKNS) has announced that its solar panel technology called Andalay will be distributed in Europe, Japan and Australia under a license agreement with Suntech Power Holdings Co., Ltd. (NYSE: STP). The terms of the licensing agreement authorize Suntech to distribute Andalay in Europe, Japan and Australia as of January 2008 and is in addition to Suntech’s previous agreement to manufacture Andalay solar panels.
Akeena says this uses 70% fewer parts and requires 25% fewer attachment points than traditional solar systems. Suntech is apparently targeting sales of over 10MW of the Andalay solar panels to the licensed regions in 2008.
Shares in pre-market activity are up some 45% around $11.65 on over 200,000 pre-open shares. The 52-week trading range is $2.97 to $10.05. What is interesting about this is that this is stated as being "in addition to Suntech’s previous agreement." It seems that with a 45% gain that solar investors are starting out 2008 with even more fervor than at the start of 2007.
Jon C. Ogg
January 2, 2008
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
