News Article
Solarpower Restoration Systems Sends Letter Of Intent
The company announces letter of intent for a three year supply of modules with SBM Solar.
SolarPower Restoration Systems, a developer of building and roofing integrated photovoltaic application technologies, announced that it has signed a non binding letter of intent for a three year supply agreement with SBM Solar.
Under the letter of intent, SolarPower Restoration Systems plans to purchase from SBM Solar a minimum of 10 MW of PV modules per annum from 2009 through 2011. The SBM modules shall be delivered according to SolarPower Restoration Systems specifications for a new polymer surfaced composite panel crystalline module design by SBM Solar for SolarPower's SolarSeal Technologies licensed partners rapidly growing system requirements.
This supply agreement is an outgrowth of the strategic alliance formed earlier this year by both companies to develop and manufacture new photovoltaic systems for the commercial roofing and wall industries. Both companies plan to expand their co-operation to further speed the development and deployment of highly efficient and low cost non glass, polymer surfaced crystalline PV solar modules for roofing and building solar integrated systems.
Michael Gumm, CEO of SolarPower Restoration Systems stated, “We are very pleased to expand our relationship with SBM Solar, which supports our growing needs for the rapidly expanding activities of SRS, in this case primarily the deployment of the SolarSeal Fan-Fold System for commercial roof applications. We plan to combine our SolarSeal Technologies with SBM Solar's flexible and high quality manufacturing base for polymer surfaced crystalline solar modules to create new high efficiency and cost effective BIPV application solutions. We believe the close cooperation between the two parties expands our opportunities to grow and compete effectively in the growing field of building integrated photovoltaic systems.”
Dr. Osbert Cheung, founder of SBM Solar commented, “We believe this expanded relationship is beneficial to both parties and provides a path for new areas of product development. We are pleased that SolarPower Restoration Systems intends to choose us as a major module supplier. We are looking forward to new supply opportunities with SolarPower's partner companies who are licensing SolarSeal Technologies from SolarPower. This new contract allows us to scale up our manufacturing processes and expand our corporate structure. We look forward to exploring new areas of co-operation with SolarPower by sharing processes, product and application technologies that benefit both parties.”
Under the letter of intent, SolarPower Restoration Systems plans to purchase from SBM Solar a minimum of 10 MW of PV modules per annum from 2009 through 2011. The SBM modules shall be delivered according to SolarPower Restoration Systems specifications for a new polymer surfaced composite panel crystalline module design by SBM Solar for SolarPower's SolarSeal Technologies licensed partners rapidly growing system requirements.
This supply agreement is an outgrowth of the strategic alliance formed earlier this year by both companies to develop and manufacture new photovoltaic systems for the commercial roofing and wall industries. Both companies plan to expand their co-operation to further speed the development and deployment of highly efficient and low cost non glass, polymer surfaced crystalline PV solar modules for roofing and building solar integrated systems.
Michael Gumm, CEO of SolarPower Restoration Systems stated, “We are very pleased to expand our relationship with SBM Solar, which supports our growing needs for the rapidly expanding activities of SRS, in this case primarily the deployment of the SolarSeal Fan-Fold System for commercial roof applications. We plan to combine our SolarSeal Technologies with SBM Solar's flexible and high quality manufacturing base for polymer surfaced crystalline solar modules to create new high efficiency and cost effective BIPV application solutions. We believe the close cooperation between the two parties expands our opportunities to grow and compete effectively in the growing field of building integrated photovoltaic systems.”
Dr. Osbert Cheung, founder of SBM Solar commented, “We believe this expanded relationship is beneficial to both parties and provides a path for new areas of product development. We are pleased that SolarPower Restoration Systems intends to choose us as a major module supplier. We are looking forward to new supply opportunities with SolarPower's partner companies who are licensing SolarSeal Technologies from SolarPower. This new contract allows us to scale up our manufacturing processes and expand our corporate structure. We look forward to exploring new areas of co-operation with SolarPower by sharing processes, product and application technologies that benefit both parties.”
