Akeena Solar to distribute solar panel technology through Suntech Power
Shares of Akeena Solar, Inc. (Nasdaq: AKNS) are rocketing in pre-market after the designer and installer of solar power systems said this morning that it will distribute its solar panel technology through a licensing agreement with Suntech Power Holdings Co., Ltd. (NYSE: STP) in Europe, Japan and Australia.
Andalay, as the technology is called, improves on conventional solar panels by including built-in wiring, grounding and racking designed to provide better rooftop performance for consumers.
This licensing agreement, which is effective this month, is in addition to Suntech’s previous agreement to manufacture Andalay solar panels.
Shares of Akeena (AKNS) rocketed 43.84%, or $3.49, to $11.45 in pre-market trading. Solar Shares of Akeena Solar have been trading in the range of $2.97 to $10.05 for the past 52 weeks.
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