Company signs global manufacturing agreement to produce solar technology that promises to provide power and heat
By James Murray – Business Green
UK solar startup Naked Energy has this week inked an agreement with US-based manufacturing giant Jabil to scale up the production of its hybrid solar technology, Virtu.
Naked Energy’s Virtu technology combines photovoltaic cells and a heat exchanger to produce power and heat, which it claims boosts financial returns and carbon savings for buildings deploying the technology.
Under the terms of the deal announced on Monday, Jabil agreed to support Naked Energy to make Virtu available to a global market as well as providing expertise in the integration of Virtu in buildings and related systems.
Naked Energy claims its combination of photovoltaic cells in an evacuated tube collector results in higher electrical output and exceptional thermal performance.
The companies said manufacturing for customers in the UK, Europe and North America had already started and the installation of commercial pilot projects is planned for early 2016, with a full commercial launch later in the year.
Naked Energy, which has in the past been supported by the Climate KIC group, added that it was now strengthening its balance sheet through additional equity investment to support the commercial launch.
“Jabil has been hugely impressed by the innovation and commercial benefits of Virtu, and is keen to support its commercialisation,” said David Kipling, vice president of corporate investment at Jabil.
“With renewables forming an ever more important part of our energy supply, Virtu is an enabling technology that needs scale to unlock its potential. Jabil can support Naked Energy to achieve that scale through dedicated manufacturing facilities and our supply chain expertise.”