Westinghouse Solar (WEST), CBD Energy Get 5-MW Purchase Commitment from Harvey Norman
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Westinghouse Solar, Inc. (Nasdaq: WEST), a designer and manufacturer of integrated rooftop solar power systems, and CBD Energy Ltd. jointly announced an agreement to begin distributing Westinghouse Solar Instant Connect Solar Power Systems to Harvey Norman Commercial Division.
Westinghouse Solar CEO Margaret Randazzo commented, "We are excited to see such early and significant results of the collaborative efforts of CBD in marketing our products. To put this agreement in perspective, this order results in an increase that more than doubles our volume of shipments from the preceding year. Additionally, this demonstrates how we can leverage the global model and international market access that CBD offers, and gives us the opportunity to grow revenue outside the US market without punitive tariffs."
This five megawatt purchase commitment is expected to be delivered over approximately six months following certification, and is subject to the system being certified in Australia. The certification process is currently underway and is expected to take approximately three months to complete. Once certifications are achieved, the company expects to begin shipping product in the fourth calendar quarter of this year. The Harvey Norman brand name is a retail icon throughout Australia with 185 franchised complexes throughout the local market.
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Westinghouse Solar CEO Margaret Randazzo commented, "We are excited to see such early and significant results of the collaborative efforts of CBD in marketing our products. To put this agreement in perspective, this order results in an increase that more than doubles our volume of shipments from the preceding year. Additionally, this demonstrates how we can leverage the global model and international market access that CBD offers, and gives us the opportunity to grow revenue outside the US market without punitive tariffs."
This five megawatt purchase commitment is expected to be delivered over approximately six months following certification, and is subject to the system being certified in Australia. The certification process is currently underway and is expected to take approximately three months to complete. Once certifications are achieved, the company expects to begin shipping product in the fourth calendar quarter of this year. The Harvey Norman brand name is a retail icon throughout Australia with 185 franchised complexes throughout the local market.
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