$1.1 Million Cypress and SunPower Donation Provides 322-Kilowatt Solar Power System at Second Harvest Food Bank
SAN JOSE, Calif., Aug 25, 2010 (BUSINESS WIRE) -- Cypress Semiconductor Corp. (NASDAQ:CY) and SunPower Corporation (NASDAQ: SPWRA, SPWRB) today announced a joint donation to the Second Harvest Food Bank of Santa Clara and San Mateo Counties valued at $1.1 million for the purchase of a SunPower rooftop solar system. The 322-kilowatt (kW) system will be installed at the non-profit organization's headquarters, located on Curtner Ave. in San Jose, Calif. It is expected to save the food bank nearly $3 million over the 25-year life of the system--translating into approximately six million meals for the local community.
"We are distributing more than 20 percent more food than last year at this time," said Second Harvest Food Bank CEO Kathy Jackson, whose organization serves an average of 231,000 individuals each month in Santa Clara and San Mateo Counties. "The rooftop solar system so generously donated by Cypress and SunPower will help us to continue meeting the needs of our community, even if this trend should continue."
"Second Harvest Food Bank is one of the most efficient non-profit organizations in the country, giving $0.95 out of every dollar it receives back to the community," said T.J. Rodgers, president and CEO of Cypress. "Cypress is pleased to help reduce the organization's operating expenses so that it can focus on what it does best--feeding the community."
"SunPower is pleased to support the Second Harvest Food Bank with its efforts to help end hunger in our community," said Tom Werner, CEO of SunPower Corp. "We hope this unique solar gift will shine a light on hunger, and encourage other businesses to support this worthy cause."
The 322-kW system on the 1.4 acre roof at Second Harvest Food Bank is comprised of the SunPower T10 Solar Roof Tile and the SunPower T5 Solar Roof Tile. Both solar roof tile products use SunPower's high-efficiency solar panels that are tilted at 10-degrees and 5-degrees respectively to increase energy capture. The T5 Solar Roof Tile integrates a solar panel, frame and roof mounting system into a single unit, reducing installation time and costs. The system will generate enough electricity to meet more than half of the organization's electrical needs. System installation is expected to be completed in September.
Money earmarked for this project includes more than $700,000 that was raised by Cypress and its employees through fundraisers and corporate giving initiatives during the holiday food drive this past Fall. Since 1989, Cypress has donated nearly $5 million in cash and more than one half-million pounds of food to Second Harvest Food Bank, driving 19 consecutive victories for Cypress in the Food Bank's Corporate Food Bowl Challenge.
Cypress delivers high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and exceptional system value. Cypress offerings include the flagship PSoC(R) programmable system-on-chip families and derivatives such as PowerPSoC(R) solutions for high-voltage and LED lighting applications, CapSense(R) touch sensing and TrueTouch(TM) solutions for touchscreens. Cypress is the world leader in USB controllers, including the high-performance West Bridge(R) solution that enhances connectivity and performance in multimedia handsets. Cypress is also a leader in high-performance memories and programmable timing devices. Cypress serves numerous markets including consumer, mobile handsets, computation, data communications, automotive, industrial and military. Cypress trades on the NASDAQ Global Select Market under the ticker symbol CY. Visit Cypress online at www.cypress.com.
Founded in 1985, SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia, and Asia. For more information, visit www.sunpowercorp.com.
About Second Harvest Food Bank
Second Harvest Food Bank of Santa Clara and San Mateo Counties has been providing services to the community since 1974. It is the single largest nonprofit provider of food to low-income households in Santa Clara and San Mateo Counties and the fifth largest food bank in the country, providing food to an average of 231,000 individuals each month. Second Harvest Food Bank is a certified member of Feeding America (formerly known as America's Second Harvest), a network of food banks and food distribution programs in the United States. For more information, visit www.shfb.org.
Cypress, the Cypress logo, CapSense, PSoC, PowerPSoC and West Bridge are registered trademarks and SmartSense, CapSense Plus, PSoC Designer and TrueTouch are trademarks of Cypress Semiconductor Corp. All other trademarks are property of their owners.
SOURCE: Cypress Semiconductor Corp.
Ed Rebello, 408-545-7665
Helen Kendrick, 408-240-5585
Second Harvest Food Bank
Poppy Pembroke, 408-266-8866 ext. 279
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