SolarEdge Technologies Ltd. has announced two collaborations, one with BP Solar Ltd., and the other with Schott Solar AG. The joint agreements come six months after SolarEdge raised $23 million.
BP Global plc (LSE: BP) unit BP Solar and SolarEdge will explore commercialization of a photovoltaic module-integrated power harvesting system embedded directly into BP Solar modules. SolarEdge has developed processors and software that improves the efficiency of the conversion of solar energy into electricity. Current solar panels convert 10-15% of solar energy into electricity, and the conversion can fall further because of shadows or technical problems.
SolarEdge says that its processor monitors and controls the flow of electricity and improves the solar panel's output by 15-20% compared with current panels on the market. The company's technology also sends alerts about breakdowns and the waste of energy.
Last year, BP Alternative Energy business unit leader for venturing Justin Adams told "Globes", "We want to invest in clean energy in Israel and in joint ventures with venture capital funds."
In a separate development, SolarEdge and Germany's Schott Solar have signed a joint design partnership agreement to develop and test a novel photovoltaic panel-integrated power harvesting system embedded directly into Schott Solar’s modules, with the goal of maximizing power generation throughout the solar lifecycle while dramatically reducing complexities and costs.
Published by Globes [online], Israel business news - www.globes-online.com - on June 1, 2009
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