SOURCE: Kender Energy Inc.

May 24, 2010 08:00 ET

Kender Energy Signs New California Distribution Agreement

GENEVA--(Marketwire - May 24, 2010) -  Kender Energy Inc. (PINKSHEETS: KNDR) today announced that it has signed a Distribution Agreement with North-Bay Heat Transfer Equipment Company for distributing the Kender Solar Engine in the North Bay area.

Kender Energy, with its distributor North-Bay Heat Transfer, is looking to take advantage of the Million Solar Roofs Bill (SB1) signed into law in 2007. The SB 1 complements the well publicized California Solar Initiative established by the Public Utilities Commission and puts California on track toward building a million solar roofs in the next ten years. Among the details of the SB law, one is about increasing the cap on net metering, a program that allows solar customers to get a credit on their electric bill for excess power generated by their solar system. SB 1 increases the cap from 0.5% of a utility's total load to 2.5% enabling close to 1,000,000 new solar system owners into the net metering program. A total of 2,350 hours of sunlight per year in the North Bay area and a rebate on the infrastructure cost of US$ 1.10 per installed Watt are additional incentives to be captured to reach those goals.

North-Bay Heat Transfer (http://www.northbay-solar.com/) is an established solar and green energy products distributor, located in Santa Rosa, California. "With an abundance of sunlight and proven clean energy laws, we are introducing the Kender Energy technology into the Californian market, where the need for clean energy and the political will to achieve it are the strongest," expressed Sean Kelly President and CEO of Kender Energy Inc. 

About Kender Energy Inc.:
Kender Energy Inc. is a development phase company active in the field of solar energy. Its present prototypes of solar panels are being developed into a full-scale solar energy production system. The particularity of the Kender solar panel system and technology is to allow, via a closed circuit of gas (usually helium), to create a heat exchange with the sunlight and the air from the environment. The exchange generates the spinning of the helium gas in the closed circuit, propelling a turbine, which produces electricity in a 100% clean and renewable process. The system's main advantages are that it is efficient, cheap in production, and modular. The company is based near Geneva, Switzerland. Its Website is www.kendersolar.com.

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