SOURCE: Solar Energy Initiatives

Solar Energy Initiatives

March 04, 2010 08:30 ET

Solar Energy Initiatives, Inc. Enters New Supply Agreement With U.S. Solar Thermal Manufacturer

SNRY Adds 20 New Dealers, Distribution Network Now Over 100

PONTE VEDRA BEACH, FL--(Marketwire - March 4, 2010) -  Solar Energy Initiatives, Inc. (OTCBB: SNRY), with businesses in solar project development, distribution and workforce training, today made an announcement that it has entered into a strategic supply agreement with AET (Alternate Energy Technologies, LLC), a U.S. manufacturer of residential and commercial solar water heating systems.

Through its operating group SNRY Solar, Solar Energy Initiatives, will begin distributing AET's Eagle Sun™ and Morningstar™ product lines. Established in 1975, AET is one of the top manufacturers of flat plate solar thermal collectors in the U.S. With over 30 collectors and 120 systems fully tested and approved, AET continues to pioneer in the fast-growing solar water heating sector.

"Solar Energy Initiatives is excited to establish a strategic relationship with AET. Complementing our photovoltaic (PV) business model, we see solar water heating as an explosive growth segment in the commercial and residential marketplace," said David Fann, Chief Executive Officer. "AET's strong reputation and long-standing success manufacturing high quality thermal collectors and water heating systems is a natural fit for our distribution division and dealer network."

According to the U.S. Department of Energy (DOE), heating water is commonly the third-largest expense in households after space heating and air-conditioning. Solar water heating systems serve as energy and cost saving vehicles for homeowners and commercial building owners in any climate. Many states are adopting policies to drive the adoption of solar water heating. Hawaii has started to require solar water heaters in new construction and many cold climate states like Colorado and New York lead the way for annual installations.

AET President, Billy Byrom, commented on the new relationship with Solar Energy Initiatives, "We are extremely excited to have SNRY Solar as a supply chain partner. The value they bring to solar contractors through their expanded offering of training, marketing, technical support and service is exactly what we are looking for in a distribution partner. Their management team has a strong vision to expand the demand for solar water heating and their business model fills a critical need in the marketplace."

The first phase of the AET supply partnership includes a wholesale distribution agreement, as well as the transition of 20 new dealers to be serviced by SNRY Solar. For more information on AET, please visit www.aetsolar.com.

About Solar Energy Initiatives, Inc.
Solar Energy Initiatives, Inc. (OTCBB: SNRY), d-b-a SNRY Solar, is a diversified provider of solar solutions with three principal operating groups focused on large-scale projects, solar education and distribution of solar products. The Project Services Group (PSG) is a developer and manager of municipal and commercial scale solar projects. The SolarEos Group is dedicated to the education and continuous improvement of solar energy trade professionals. The Integrated Supply Group (ISG) is a wholesale distributor of branded photovoltaic and thermal (water heating) systems selling via a network of dealers throughout the United States and the Caribbean. 

Solar Energy Initiatives also owns SolarEnergy.com, one of the most visited solar websites on the internet and a digital property committed to driving consumer traffic, while serving as a platform for awareness of the benefits of solar and a source of business lead generation to SNRY Solar's channel partners. 

Through its diversified portfolio of solar businesses, SNRY Solar is committed to restoring the nation's economy through a grassroots campaign called 'Renew the Nation.' Renew the Nation brings together a broad alliance of public and private sector interests focused on workforce development, job creation and economic growth through solar energy. For more information please visit www.solarenergy.com.

Contact Information

  • Contact:
    Solar Energy Initiatives, Inc.
    David Fann
    Chief Executive Officer
    904-644-6090
    Email Contact

    or

    Alliance Advisors, LLC
    Chris Camarra or Bryan Kobel
    212-398-3487
    Email Contact