October 9, 2013 - Suncore Photovoltaic Technology Company Ltd. today acquired all of the assets of Israel-based ZenithSolar Ltd., including intellectual property, inventory, and equipment, through its US subsidiary Suncore Photovoltaics Inc. Over the past 6 years, ZenithSolar has developed an innovative combined heat and power (CHP) product based on CPV technology, and demonstrated more than 70% combined solar energy conversion efficiency. The system provides electrical output from a photovoltaic array and concurrently generates hot water at a temperature suitable for domestic andindustrial applications. Suncore plans to set up a production line and start mass production of the CHP product in its Huainan, China facility in 2014.
"The potential of this technology to provide a low-cost source of renewable energy is significant", said Dr. Charlie Wang, Vice Chairman of Suncore and CEO of SPI, "The CHP technology developed by ZenithSolar is an excellent complement to Suncore's CPV product portfolio. In addition to our existing high-efficiency CPV products targeted for mid to large scale utility or distributed solar power plants, we are now able to provide solar generated electrical and thermal power to customers ranging from industrial and commercial, to residential and agricultural."