Flex forward PE drops to 7
if(window.yzq_d==null)window.yzq_d=new Object(); window.yzq_d['kOyi2WKImoM-']='&U=12bs0u723%2fN%3dkOyi2WKImoM-%2fC%3d-1%2fD%3dNT1%2fB%3d-1%2fV%3d0'; Petra Solar Enters into Supplier Agreement with Flextronics to Facilitate Expansion into Global Markets Press Release Source: Petra Solar and Flextronics On Monday June 21, 2010, 9:35 am
SOUTH PLAINFIELD, N.J. & SINGAPORE--(BUSINESS WIRE)--Petra Solar, the clean tech company that links Smart Grid and solar and that pioneered grid-tied, pole-mounted, distributed solar generation systems for utilities, and Flextronics (NASDAQ: FLEX - News), a leading global electronics manufacturing services provider, today announced Flextronics will build Petra Solar’s SunWave™ smart energy modules for deployment around the world.
The partnership will enhance Petra Solar’s ability to supply its SunWave pole-mounted solar energy systems to international customers, giving the company the flexibility and scalability to quickly meet the growing demands for its SunWave product and expand into new global markets. This is in keeping with its commitment to create jobs local to its customers, through the manufacturing services provided by Flextronics.
“We are happy to partner with Petra Solar to help them meet the expanding market for intelligent solar energy,” said E.C. Sykes, President of Flextronics Industrial. “As the leading clean tech manufacturing solutions provider, we believe the partnership is a natural fit and applaud the leadership and innovation in developing the SunWave, which combines distributed solar generation and smart-grid technology.”
"As Petra Solar continues to expand locally and around the world, it is important to partner with leaders in the industry to further enable us to continue developing our products with the highest levels of quality and reliability,” said Dr. Shihab Kuran, Founder, President and CEO of Petra Solar. "Flextronics’ global reach and well-deserved reputation for market leading clean tech manufacturing solutions that provide compelling value and scale reaffirm our decision that the Flextronics-Petra Solar collaboration will contribute to the rapid deployment of our products globally and in the United States, and that the collaboration will lead to the creation of many green jobs."
Petra Solar’s SunWave is a distributed solar power generation and management system. Utilities that deploy SunWave on their poles generate solar power cost effectively and benefit from a smart grid communications system and grid reliability enhancement tools that are unique to the SunWave system. The SunWave smart grid communications system provides three main functions. First, it monitors and reports on the operation and health of the SunWave units. This function consists of recording how much energy is generated and sending maintenance and repair alerts to the utility control center. Second, the communications system provides a tool for remote command and control of the SunWave units. A remote command can, for instance, enable the generation of reactive power, a feature that increases power efficiency and helps stabilize voltage levels on the power lines. Third, the communications system provides a cost effective backbone for other smart grid initiatives such as Advanced Metering Infrastructure (AMI) and load management or demand response programs. The SunWave technology also provides utilities with grid reliability tools. The systems constantly monitor and provide real time status updates on critical operating parameters such as voltage and frequency thereby enabling automatic power outage detection and faster response time.
About Petra Solar:
Petra Solar, founded in 2006 by CEO and President, Dr. Kuran, is the pioneer of the SunWave grid-tied, pole-mounted, distributed solar generation system. The SunWave system combines solar energy with smart-grid communications and electric grid enhancement functions to create a comprehensive utility grade solution for utilities. Petra Solar's success is the culmination of more than 16 years of research and development. For more information about Petra Solar visit www.petrasolar.com.
Headquartered in Singapore, Flextronics is a leading electronics manufacturing services (EMS) provider focused on delivering complete design, engineering and manufacturing services to automotive, computing, consumer digital, industrial, infrastructure, medical and mobile OEMs. Flextronics helps customers design, build, ship, and service electronics products through a network of facilities in 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market. For more information about Flextronics visit www.flextronics.com.