Message #12 From:
Stock News Bot Date: October 31, 2005 10:32:00 AM
SWTX News Southwall Technologies' Heat Mirror(R) Receives Repeated Department of Energy and Model Energy Code Recognition; Energy Trends Accelerating Demand for High-Performance Product
PALO ALTO, Calif.--(BUSINESS WIRE)--Oct. 31, 2005--Southwall Technologies Inc. (OTCBB:SWTX) announced today that its Heat Mirror(R) sustainable energy window product was recognized for its continued superior performance in separate projects sponsored by U.S. and Canadian energy efficiency agencies. In the U.S., Heat Mirror was the winning window solution for the second consecutive time in the 2005 Solar Decathlon, a solar-powered home competition primarily sponsored by the U.S. Department of Energy's (DOE) National Renewable Energy Laboratory. Durham College in Toronto also utilized Heat Mirror to achieve performance 43% above the Canadian Model Energy Code, earning it an award from Natural Resources Canada's Office of Energy Efficiency.
Heat Mirror was the window of choice by the Solar Decathlon event winner for the second consecutive time. The University of Colorado beat out 17 college teams from the US, Canada, Puerto Rico and Spain to win this year's competition. Each team built solar-powered homes of their original design on the National Mall in Washington, DC, which were judged on performance in ten areas, including energy sustainability. Additional cutting-edge technologies such as rooftop and awning photovoltaic systems complemented the winning design. In addition to the DOE, competition sponsors included the American Institute of Architects and the National Association of Home Builders. Heat Mirror was also incorporated in the winning design at the previous Solar Decathlon in 2002, the inaugural event of the competition.
After extensive analysis of window glazing options, Durham College incorporated Heat Mirror sustainable energy glass as part of its efficient envelope building design. The Canadian government monitored the initial project for one year after completion to determine its performance level, and due to its superior results, Heat Mirror is now the standard glass specification at Durham. Five additional buildings have been built using Heat Mirror since the original project. Provincial Premiere Dalton McGinty presented the award.
"We are extremely proud to be affiliated with both of these innovative projects," said Thomas G. Hood, CEO and President of Southwall Technologies Inc. "The technologies used in these projects represent very practical solutions to energy design issues that face most builders today. In a time of unprecedented and rapidly escalating energy demand worldwide," Hood noted, "such projects continue to demonstrate how responsible energy practices are increasingly cost-effective and desirable."
Heat Mirror sustainable energy windows deliver the highest level of total performance for thermal and sound insulation, solar control, and UV protection. Installed in commercial and residential buildings worldwide, the proven superior performance of Heat Mirror is helping encourage broader adoption of sustainable design. A list of representative projects using Heat Mirror sustainable energy windows can be viewed at http://www.southwall.com/products/product-pdf/ HR-InformationBinder.pdf (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.).
Southwall Technologies is a member of the US Green Building Council and is dedicated to the advancement of Leadership in Energy & Environmental Design (LEED(R)).
Heat Mirror licensee Alpen, Inc., of Boulder, Colorado, made the windows for the Solar Decathlon project. Licensee Sunlite Insulating Glass of Mississauga, Ontario, supplies the Heat Mirror glass for Durham College.
About Southwall Technologies Inc.
Southwall Technologies Inc. designs and produces thin film coatings that selectively absorb, reflect or transmit light. Southwall products are used in a number of architectural glass, automotive, and electronic display products to reduce energy costs, enhance optical and thermal performance characteristics, and improve user comfort. Southwall is an ISO 9001:2000-certified manufacturer and exports advanced thin film coatings to over 25 countries around the world. Southwall's corporate customers include Audi, BMW, DaimlerChrysler, Hewlett-Packard, Mitsubishi Electric, Mitsui Chemicals, Peugeot-Citroen, Pilkington, Renault, Saint-Gobain SEKURIT, and Volvo.
This press release may contain forward-looking statements, including, without limitation, statements regarding the Company's expectations, beliefs, intentions, or strategies regarding the future. All forward-looking statements in this press release are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those presented. These risks include the possibility that the Company's expected future results will be materially worse than estimated, that the Company may not continue to be profitable in future quarters or may not be able to achieve future long-term growth, that there will be a decline in one or more portions of our business in 2005 or thereafter, that the Company will suffer a decline in manufacturing or financial effectiveness, and that the Company will not be able to secure additional financing if required, as well as risks associated with its failure to meet potential covenant requirements under future credit facilities. Further risks are detailed in the Company's filings with the Securities and Exchange Commission, including those set forth in the Company's most recent Annual Report on Form 10-K for the year ended December 31, 2004, filed on March 30, 2005 and its Quarterly Report on Form 10-Q for the quarter ended July 3, 2005, filed on August 5, 2005.
