Akeena Surges on Suntech Additional Licensing (AKNS, STP)

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By Douglas A. McIntyre Published

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

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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