Facility will House Executive and Manufacturing Operations

North East, MD (October 1, 2004) – Blue Square Energy (BSE) today announced it has signed a seven-year lease on a 24,000 square foot headquarters at the Peninsula Industrial Park in North East, Maryland.  The developer and manufacturer of high-performance silicon solar cells will use the facility for both its executive offices and its manufacturing operations.

BSE’s new headquarters is minutes from Interstate 95, providing its management team with easy access to the financial center of New York City and the government center of Washington, D.C.  The East Coast location also provides accessibility to solar industry clusters in Europe, specifically Germany.  

Maryland was also chosen as the location for BSE’s headquarters due, in part, to the state’s dedication to alternative energy.  The Solar Energy Grant Program, signed by Governor Robert Erlich, Jr. earlier this year, is a demonstration of Maryland’s supportive environment for solar energy.  This legislation will provide a portion of the funding necessary for installing solar energy systems, 20 percent of which will go to non-residential installations.

“We had many options for where to locate our global headquarters – on the East Coast, the West Coast and Europe,” said Jeffrey Barnett, president and CEO of BSE.  “The East Coast and Maryland, in particular, were a good fit for our company because of our partners in Washington, New York and Europe.  The manufacturing facility we found here suits our immediate needs, but also provides significant room for growth.”

Initially, BSE will focus on developing a manufacturing line for recycling used silicon into solar cells.  Those cells will be used in a variety of household appliances, including garden and accent lights. 

BSE will also dedicate significant resources towards developing the next scientific breakthrough for the solar industry.  It plans to add a number of scientists and engineers in the near future to join the R&D team.  It is also developing partnerships with the U.S. government and universities to achieve its research goals.