An Irish firm which earlier this year claimed it had developed the world’s most efficient solar hot water panel has agreed a €20 million deal to have the product distributed throughout the Republic of Ireland. Surface Power Solar, a developer and manufacturer of solar power products based in Mayo, says it has agreed to supply The Moritz Group with its SP501 Solar Hot Water Collector over a five-year period. The Moritz Group, a leading Irish-based distributor to the construction industry, employs more than 180 people in Ireland and a further 100 people indirectly through its various interests Commenting on the link-up with The Moritz Group, Surface Power founder John Quinn said: “This agreement provides us with a solid distribution channel in Ireland enabling us to completely focus on our expansion efforts. “Surface Power Solar has already achieved product approval in over 25 countries and expects to add the USA, Canada and Australia over the coming months”, added Mr. Quinn. Moritz Trading Director Dennis O’Connor said that the product helps guarantee the best Building Energy Ratings (BER) on buildings. “We are in the unique situation where we are being approached by foreign government departments to ensure that we will be distributing this technology in their country,” Solar Power’s Marketing Director Caroline McAndrew said. The world market for the solar collector was worth in excess of 10 billion dollars in 2008 and has grown by 300% since 1998. “We expect the international home renovation market to be very strong during the next three years, as our collector is the only pre-packaged vacuum collector on the world market. This leads to quicker, simpler and cheaper installations,” she added. Surface Power estimates that the SP501 product, which has undergone six years of development and testing, has the potential to reduce domestic and commercial hot water bills by up to 70% if insulation standards meet new building regulations. The company says independent certification has shown that when compared to other leading solar hot water collectors the collector was up to 131% more efficient in morning and evening time and 76% more efficient at midday. Steven Allen, Sales Director noted that the SP501 had been compared to 52 other collectors, which hold the prestigious Solar Keymark certification, and the results of the comparative testing were excellent. “The biggest difference that was achieved in comparison results was that against flat plate collectors. It is great to see the end of a product development cycle and a huge spike in enquiries from the renovation market in Europe and USA, we have several more products in development and plan to release one per year,” he said. |
