PanelClaw Announces European Strategic Partnership

North Andover, MA and Düsseldorf, Germany, June 3, 2011 - PanelClaw, a leader in solar PV mounting systems, and WASI, the world-wide market leader in the supply of stainless steel fasteners and mounting materials, announced a strategic partnership today that brings PanelClaw’s innovative ballasted mounting systems to the European market. WASI Solar, (WASI’s mounting systems business unit), will officially introduce PanelClaw’s solar racking to the European market at the upcoming Intersolar Europe tradeshow in Munich.

WASI Solar will begin marketing PanelClaw’s solar mounting solutions in Germany, with product available for shipment in the third quarter. To meet European demand, PanelClaw plans on opening manufacturing facilities for its Grizzly Bear® FR and Polar Bear® FR ballasted flat roof solar mounting solutions in Europe.

“PanelClaw products represent the next generation of simple solar mounting solutions,” said Thomas Fischer, Head of WASI Solar. “We are excited to offer our European customers PanelClaw’s innovative ballasted PV racking systems that will deliver lower total project costs.”

To help facilitate PanelClaw’s European market entry, Axel Schaffrath, formerly the head of international solar strategy for WASI has joined PanelClaw’s experienced management team as Vice President and General Manager of Europe. Axel Schaffrath will be based out of PanelClaw’s European headquarters in Düsseldorf, Germany.

“Continued growth in the European market is predicated on the solar industry’s ability to bring down the installed cost of PV,” said Schaffrath. “The simplicity of PanelClaw’s solar mounting systems represents a significant improvement over traditional racking options and will help developers realize lower life-cycle costs.”

The strategic partnership with WASI Solar is part of PanelClaw’s plans to expand its global footprint, which currently includes offices in Massachusetts and California, as well as manufacturing across the U.S. and Canada.

“PanelClaw’s partnership with WASI Solar is a testament to the quality of our products and the value they deliver to our customers,” said Costa Nicolaou, PanelClaw President. “We are proud to partner with a proven leader in the European solar market and look forward to building upon the tremendous success PanelClaw has experienced in North America.”

About PanelClaw

PanelClaw is a leader in ballasted PV racking, offering simple, innovative mounting solutions for flat roof and ground mount applications that deliver the lowest life-cycle costs on every project. PanelClaw racking solutions are available in the U.S., Canada, and the European Union. For additional information please visit www.panelclaw.com.