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Akeena Solar Expands Board of Directors
Adds New Board Committees
LOS GATOS, Calif.--(BUSINESS WIRE)--July 19, 2007--Akeena Solar, Inc. (OTC BB:
AKNS), a leading designer and installer of solar power systems, announced the
expansion of its Board of Directors and appointed two new members. Mr. George
Lauro and Mr. Jon Witkin will be joining existing board members Ed Roffman and
Barry Cinnamon. Akeena Solar also established an Audit Committee, a Compensation
Committee, and a Corporate Governance and Nominating Committee, as well as
adopted a Code of Ethics and Business Conduct, in preparation for submitting its
listing application to NASDAQ.
George L. Lauro has joined Akeena Solar as a director. He is Founding Partner of
Alteon Capital Partners, a Silicon Valley Venture Capital and Advisory Firm that
provides direct venture investment and advisory services to private companies in
the semiconductors, MEMS, electronics and cleantech sectors. Previously, he was
Managing Director at two venture capital firms, Techfarm Ventures and
Wasserstein Venture Capital. Lauro was also Director of Rapid Commercialization
at IBM Headquarters. He is currently a Director on the Boards of ChipX and
Pinyon Technologies. Lauro completed a Bachelors degree in Electrical
Engineering from Brown University and a Master of Business Administration from
Wharton Business School at the University of Pennsylvania.
Jon M. Witkin has joined Akeena Solar as a director. He is co-founder and
co-owner of Western States Glass, the largest independent flat glass distributor
in Northern California. Western States Glass works extensively throughout the
construction industry supplying materials to job sites and working on large and
small construction projects throughout the Western U.S. Witkin has also had
extensive experience purchasing and operating private carriers, importing
building material products from various foreign countries, and working with
various building subcontractors completing the supply chain to a finished
property. Prior to founding Western States Glass in 1991, Witkin was a Partner
at Bay Mirror and an Area Sales Manager at ACI Glass Distribution ("ACI"), as
well as serving in various sales and management roles at the Havlin Witkin
Corporation which was sold to ACI. Witkin earned a Bachelors of Science degree
from the University of Utah.
Barry Cinnamon, CEO of Akeena Solar, stated, "The expertise of these new
directors brings an added dimension to Akeena. George Lauro will be a tremendous
asset because of his extensive experience in high growth technology companies.
And Jon Witkin's in-depth knowledge of running a company with subcontractors and
logistics that are very similar to a solar company's will help the growth of our
operations and expansion into new territories."
About Akeena Solar, Inc.
Founded in 2001, Akeena Solar's (OTC BB: AKNS) philosophy is simple: We believe
producing clean electricity directly from the sun is the right thing to do for
our environment and economy. Akeena Solar has grown to become one of the largest
national integrators of residential and small commercial solar power systems in
the United States, serving customers directly in California, New Jersey, New
York, Connecticut and Pennsylvania. For more information, visit Akeena Solar's
website at www.akeena.net.
Safe Harbor
Statements made in this release that are not historical in nature constitute
forward-looking statements within the meaning of the Safe Harbor Provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements
can be identified by the use of words such as "expects," "plans" "will," "may,"
"anticipates," believes," "should," "intends," "estimates," and other words of
similar meaning. These statements are subject to risks and uncertainties that
cannot be predicted or quantified and consequently, actual results may differ
materially from those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, without limitation, risks associated with
the uncertainty of future financial results, additional financing requirements,
development of new products, the effectiveness, profitability, and marketability
of such products, the ability to protect proprietary information, the impact of
current, pending, or future legislation and regulation on the industry, the
impact of competitive products or pricing, technological changes, the effect of
general economic and business conditions. All forward-looking statements
included in this release are made as of the date of this press release, and
Akeena Solar assumes no obligation to update any such forward-looking
statements.
CONTACT: Akeena Solar, Inc.
Barry Cinnamon, 888-253-3628
bcinnamon@akeena.net
or
Lippert/Heilshorn & Associates
Mary Magnani, 415-433-3777
mmagnani@lhai.com
SOURCE: Akeena Solar, Inc.
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