SOURCE: Open Energy Corp.

June 11, 2007 09:00 ET

Open Energy Strengthens Management Team

Hires New CFO and Reorganizes Senior Executives to Address Strategic Focus on Solar Solutions Business

SOLANA BEACH, CA--(Marketwire - June 11, 2007) - Open Energy Corp. (OTCBB: OEGY), a renewable energy company focused on solar technologies, today announced the appointment of Aidan H. Shields as Chief Financial Officer, replacing Jeffrey B. Stein, who resigned on June 4, 2007. In addition, David Field was promoted to Chief Operating Officer, and Tom Wolfe became Chief Technology Officer. Cheryl Bostater has been named Vice President of Business Development.

David Saltman, CEO of Open Energy, explained the management realignment: "Our strategy is to leverage our proprietary building-integrated photovoltaic products in order to drive our solutions business. We need a senior leadership team capable of managing dramatic growth within a rapidly evolving business environment. Aidan Shields is the former CFO of the Outlet Division of Gap, Inc., and was senior director of financial planning and controller of the seven billion dollar Old Navy division. He has a deep understanding of financial planning and analysis, business development, corporate governance and SEC compliance, and we are thrilled that he is joining our senior management team." Mr. Shields began his professional career with KPMG and is a qualified Chartered Accountant.

At the same time, David Field was promoted to Chief Operating Officer, commenting, "David has spent the majority of his career building distributed generation power and water companies. He has a deep understanding the organizational issues involved in marketing and financing systems though power purchase agreements, and has the management experience to keep the Company focused and aligned as we ramp up production and sales." Prior to joining Open Energy, Field was founder and President of Clarus Energy Partners, which was sold to Hunt Oil. He was also a Senior Vice President at Poseidon Resources, and a Vice President at Citicorp. Tom Wolfe was promoted to Chief Technology Officer, replacing Ron Gangemi, who will continue on as a consultant to the Company.

About Open Energy (OTCBB: OEGY)

Open Energy Corporation is a renewable energy company focused on the development and commercialization of a portfolio of technologies capable of delivering low-risk, cost-competitive electricity, fresh water and related commodities on a global basis. Open Energy offers building-integrated photovoltaic (PV) roofing materials for commercial, industrial, and residential markets. Marketed under the trade name SolarSave®, the product line includes roofing membranes, roofing tiles, custom architectural PV glass, and balance of systems equipment such as inverters, combiners, and accessories. The Company also holds an exclusive, worldwide license to a solar thermal technology called SunCone™ CSP (Concentrating Solar Power), which is currently being developed to generate potable water and distributed power. The company's mission is to enhance life by harnessing the power of the sun. For more information on Open Energy Corporation, please visit

Safe Harbor for Forward-Looking Statements

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Open Energy to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, customer demand for its products, the execution of definitive agreements related to the transactions described within this release, the ability of either or both parties to perform under such definitive agreements, either company's ability to scale up manufacturing to meet demand, and other factors over which Open Energy has little or no control. Open Energy undertakes no obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

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