Swedish solar technology to be the supplier as part of a projected multi-million dollar project in the U.S.

2013-09-25

Pennsylvania LOI with US Ambassador Mark Brzezinski — LOI signed in the presents of US Ambassador Mark Brzezinski

Joakim Bystrom, President of Absolicon Solar Collector AB from Harnosand, Sweden has signed a letter of intent to supply its innovative concentrated solar technology as a component of a renewable energy power development and sustainability project being undertaken in Hazle Township, Pennsylvania. The project anticipates the installation of 40Mw of solar power generation equipment in the first phase of the project, with the potential for further phase developments which could increase the project size to as much as 180Mw.

Sweden has a leading role in renewable energy innovation and that was one of the focus areas that was highlighted during President Obama’s recent September 2013 visit to Sweden and was one main subject of discussions held during the visit with the Swedish Prime Minister Fredrik Reinfeldt.

“The strong efforts being made to expand and facilitate the mutually beneficial cooperative arrangements being made between Sweden’s technologists, United States manufacturers and developers, within SAGA (Sweden America Green Alliance) is gratifying” says Jay Gartlan, President and CEO of Ensources LLC.

The letter of intent between Absolicon and Ensources provides for the establishment of a manufacturing facility in the United States to fabricate energy generation equipment as embodied in Absolicon’s patented technology as well as for the establishment of collaborative partnerships between US and Swedish academic research and development institutions for the continued development of innovative solar energy solutions.

Stefan Jonsson, CEO of Glofin Advisory, AB / Ecotech Export Financial Advisors states: “As specialists in financing cleantech solutions, Glofin is excited about the prospects of delivering Swedish technologies to the US and that we are able to be instrumental in delivering a long-term and profitable project for all parties involved. We look forward to working closely with Mr. Gartlan and his team.”

The deal was facilitated by Lars Ling, CEO of Sundsvall based CleanTech Region and Les Neumann, CEO of New York based iCAN–Global LLC. Ling and Neumann have established a bridge for Swedish cleantech and environmental technology companies to establish themselves in the United States.