Wednesday, December 23, 2009

Solar Energy Initiatives, Inc. Announces Strategic Photovoltaic Collaboration with the Industrial Technologies Research Institute (ITRI) Taiwan

POINT VERDA BEACH, Fla.--(BUSINESS WIRE)--Solar Energy Initiatives, Inc. (OTCBB: SNRY) and the Industrial Technology Research Institute (ITRI) Taiwan announced a broad business and technical collaboration agreement to build, integrate, test and commercialize a series of new solar products and solutions.

Worldwide, the solar PV market is expected to reach $34 billion by 2013. The United States economic stimulus bill, signed into law in February 2009, is providing billions of dollars through the U.S. Department of Energy (DoE) for renewable energy investment in U.S. companies, including those engaged in solar energy development and manufacturing. ITRI is established as a clear leader in offering independent technology development services to the Solar Industry, operating state-of-the-art facilities in Hsinchu, Taiwan. In collaboration with Solar Energy Initiatives, ITRI will integrate the technologies into world class products in such solar solutions as LED Lighting, Silicon Solar Cell Products, Si Thin Film Solar Cell, Module Encapsulation, Dye-Sensitized Solar Cell and Printable CIGS.

“The collaboration agreement signals the intent of both companies to establish an accelerated growth platform for the industrialization of ITRI’s patented solar technology into the North American Market,” said, Mr. Robert Pimentel, Business Development Director of ITRI. “SNRY will be instrumental in the sales and distribution of our award winning patented technologies that will have the ability to generate significant revenues for SNRY. It is ITRI’s mission to develop advanced solar photovoltaic technologies and to commercialize them in a timely manner and to enhance the competitiveness of Taiwan’s solar industry."

“Our extensive strategic agreement with ITRI includes the building of a world-class Solar Energy Website, the development of a Solar Energy University ELearning Certification Platform and providing cutting-edge solar products and solutions in North America,” commented, Mr. David Fann, CEO of Solar Energy Initiatives. “SNRY and ITRI will jointly pursue global Tender and RFQ projects together. Under this agreement ITRI will supply Engineering and Technology Support and SNRY will manage all sales and integration services. Our agreement with ITRI has the ability to significantly impact both our bottom and top line growth throughout the remainder of our 2010 fiscal year and beyond."

1 comment:

  1. It's high time all got together to find solutions to the pressing problem of developing alternative energy technologies that is economical enough for all. In that, solar energy figures prominently but due to limitations --and expenses involved-- the utility value has not been realised. So much free energy but so much to spend to harvest that! That's the challenge.