Panasonic and Renewable Social Benefit Funds Team To Bring Solar Power Capability to Conrad N. Hilton Foundation's New Campus

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Feb 28, 2012, 11:15 ET

SECAUCUS, N.J., Feb. 28, 2012 /PRNewswire/ -- Panasonic Enterprise Solutions Company today announced that, working with Renewable Social Benefit Funds (RSB Funds), it will create a 115 Kilowatt solar power generation installation on the corporate campus of the Conrad N. Hilton Foundation in Agoura Hills, CA. Based in Denver, CO, RSB Funds is an alternative energy company focused exclusively on bringing solar power to hospitals, schools, low-income housing projects, water districts, universities, airports, municipalities and other governmental and tax-exempt entities.

The renewable energy installation will be sited on a newly erected carport structure on the Foundation's campus. The array is one component of the new Hilton Foundation campus strategy to be more energy efficient and environmentally responsible. "We are pleased to be working with Renewable Social Benefit Funds and Panasonic Enterprise Solutions Company on this solar project, as this is part of our entire campus strategy to lower our carbon footprint," said Patrick J. Modugno, Vice President, Administration and Chief Financial Officer, Conrad N. Hilton Foundation. "Renewable Social Benefit Funds' financing will allow us to allocate assets to other charitable purposes, a double win for the Foundation."

The Hilton Foundation project is the first collaboration between RSB Funds and Panasonic Enterprise Solutions Company as they team up in this area. "As a company that aims to create a sustainable future, Panasonic is delighted to be working with RSB Funds to make this project possible for the Conrad N. Hilton Foundation," said Jim Doyle, president of Panasonic Enterprise Solutions Company. "They have a great record of achievement in making the benefits of solar power available to non-profits and other similar organizations."

"Renewable Social Benefit Funds (RSB Funds) is pleased to be working with Panasonic Enterprise Solutions Company in partnering with the Conrad N. Hilton Foundation on this leading renewable energy project," said Jonathan Jaffrey, president of RSB Funds. "The Hilton Foundation's leadership in the nonprofit community in this area will help to demonstrate the benefits of clean energy to the community and the benefits it will provide."

Conrad N. Hilton Foundation
The Conrad N. Hilton Foundation was created in 1944 by international business pioneer Conrad N. Hilton, who founded Hilton Hotels and left his fortune to help the world's disadvantaged and vulnerable people. The Foundation currently conducts strategic initiatives in five priority areas: providing safe water, ending chronic homelessness, preventing substance abuse, caring for vulnerable children, and extending Conrad Hilton's support for the work of Catholic Sisters. Following selection by an independent international jury, the Foundation annually awards the $1.5 million Conrad N. Hilton Humanitarian Prize to a nonprofit organization doing extraordinary work to reduce human suffering. From its inception, the Foundation has awarded more than $1 billion in grants, distributing $82 million in the U.S. and around the world in 2011. The Foundation's current assets are approximately $2 billion. For more information, please visit www.hiltonfoundation.org.

About Panasonic Enterprise Solutions Company
Panasonic Enterprise Solutions Company is a unit of Panasonic Corporation of North America, the principal North American subsidiary of Panasonic Corporation (NYSE: PC). The company develops and provides customized and integrated technology-based systems solutions for enterprise customers in the sports and entertainment industries as well as in the education sector. To learn more about the company or read case studies about solutions created for other customers, visit http://www.panasonic.com/business/enterprise/enterprise-solutions-company.asp

Panasonic is pledged to practice prudent, sustainable use of the earth's natural resources and protect our environment through the company's Eco Ideas programs. Panasonic was the only Consumer Electronics company to be listed in the top ten brands on the Interbrand Best Global Green Brands 2011 ranking. Follow Panasonic on Twitter @panasonicdirect, and additional company information for media is available at www.panasonic.com/pressroom.

Renewable Social Benefit Funds, L3C
Renewable Social Benefit Funds (RSB Funds) is an alternative energy company focused exclusively on bringing solar power to hospitals, schools, low-income housing projects and other governmental and tax-exempt entities. RSB Funds develops solar projects for its clients that require no initial investment, provide the best-in-breed operation and maintenance, and always reduce energy costs so that savings can be used to support mission-critical programs. RSB Funds is an L3C (Low-profit, Limited Liability Company). An L3C is run like a regular business and is profitable, yet unlike a standard LLC, the L3C has primarily civic-focused goals. Through its sister company, Sol Haven Development Partners, RSB Funds and its partners bring solar projects to market for corporation and other not traditional nonprofit. Whether externally financed or self-financed Sol Haven Development Partners assists its clients with designing and installing the best possible solar system for their needs. For more information on RSB Funds and its programs, visit www.rsbfunds.com.

SOURCE Panasonic