Alternative Energy - Wednesday, May 30, 2007
WorldWater & Solar Technologies Pays $18.3M For Entech.
Founded in 1983 as a spinoff of E-Systems, Entech, has enjoyed $40M in R&D grants to develop solar concentrating technology for NASA, the Department of Energy, and the Department of Defense. The result are photovoltaic concentrators, that have been used as lightweight source of power for space probes. Entech says these concentrators require an eighth of the area needed by conventional solar cells.
Today WorldWater & Solar Technologies said it would pay $18.3M in cash and stock to buy Entech. Keller, TX-based Entech will now commercialize its concentrators for large solar power plants.
The solar concentrator business is getting competitive and has won the hearts of VC investors who have invested in companies like SolFocus, Energy Innovations, Solaria and Concentrix Solar.
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