Konica Minolta Partners with Nautilus Solar to Install Solar Panels at Its Headquarters

RAMSEY, NJ—October 4, 2012—Nautilus Solar Energy and Konica Minolta Business Solutions U.S.A. announced the formal plans to install solar panels at Konica Minolta headquarters. The goal of the joint venture is to provide an alternative energy source to the Konica Minolta offices and promote corporate sustainability efforts.

Nautilus Solar will be the owner and provider of the 839.5-kilowatt photovoltaic system being installed as part of “Project Sunway,” and will sell the generated electricity to Konica Minolta at a discount to its current utility rate. Based on standards set by the U.S. Environmental Protection Agency, this project will offset the CO² emissions from 132 passenger vehicles, or the electricity used by 84 homes.

Project Sunway is part of the long-term environmental vision from parent company Konica Minolta Holdings—Eco Vision 2050. This vision is guided by three main goals for the year 2050:

• reduce CO2 emissions throughout the product life cycle by 80 percent compared to 2005 levels;
• promote recycling and effective use of Earth’s limited resources; and
• work to promote restoration and preservation of biodiversity.

As part of this vision, Konica Minolta Business has a management strategy focused on Corporate Social Responsibility (CSR) and the Nautilus Solar project is part of sustainability initiatives within this strategy.

“We are excited about this partnership with Konica Minolta that will allow the company to continue its leadership in environmental sustainability, while giving us the opportunity to demonstrate our commitment and successful execution to the New Jersey solar market,” said James M. Rice, CEO, Nautilus Solar.

The Nautilus Solar system being installed in the parking lots at the Konica Minolta offices will consist of carport canopies supporting approximately 3,498 240W solar panels. Project Sunway will generate approximately 967,000 kWh of solar energy annually, replacing up to 20 percent of the Konica Minolta offices’ typical energy consumption. Following a groundbreaking ceremony on October 24, 2012, construction of the carport canopies will begin with expected completion in May of 2013.

“We continue to grow and evolve our sustainability initiatives to incorporate not only our product and solution technologies, but also our own corporate practices and partnering with Nautilus Solar is just another example of our continued commitment to the environment,” said Ned Umehara, president and chairman of the Board of Trustees, Konica Minolta Colorful Tomorrow Foundation. “Project Sunway will help reduce our overall electricity usage and demonstrate how customers can count on Konica Minolta to be an environmentally-friendly document management solutions provider.”

About Konica Minolta
Konica Minolta Business Solutions U.S.A. is a leader in advanced document management technologies and Managed IT Services for the desktop to the print shop. For the fifth consecutive year, Konica Minolta was recognized as the #1 Brand for Customer Loyalty in the MFP Office Copier Market by Brand Keys. BLI has named Konica Minolta 2012 “Document Imaging Solutions Line of the Year” and “A3 MFP Line of the Year” award winner for the company’s solution portfolio and award-winning line of bizhub Multifunctional Products.

About Nautilus
Founded in 2006, Nautilus Solar is a leading independent solar power producer headquartered in Summit, New Jersey. Nautilus Solar develops, constructs, finances, owns and operates distributed generation and utility-scale solar electric systems. The company sells its generated electricity through long-term power purchase agreements. Nautilus Solar is majority-owned by an investment affiliate of Starwood Energy Group Global, LLC.

Source: Konica Minolta.