Jan 24 2011
EGPI Firecreek contracted a binding Letter of Intent (LOI) to buy Arctic Solar Engineering (ASE), a St. Louis, Mo- based privately owned provider and installer of absorption units and solar thermal systems.
ASE incorporates a 30 year old solar thermal energy technology registered by Daimler Aerospace in Germany and the technology is currently used all over Germany, Middle East, Asia and Europe. ASE’s competitive edge lies in its product knowledge and its familiarity about the working of water-based energy systems and their productive implementation to lessen the energy intake of a normal building by nearly 70%.
The Solar Thermal Energy (STE) systems supplied by ASE allow the capturing and storing of solar energy cost-effectively. The solar thermal collectors collects and stores the solar energy in a cost-effective storage medium such as water and use it for producing hot water or for heating or cooling a place. The STE system offered by the company does not suffer from local competition and there are only a limited number of companies manufacturing such systems at the national level, while the demand for such systems is increasing at a rapid rate. Also the payback period of the STE systems is comparatively lesser than that of other type of solar systems. According to a release from the US Department of Energy, solar thermal systems accounts for nearly 70% of the total solar systems utilized by residential and business users in USA.
EGPI Firecreek is looking forward to mix its engineering and energy background with that of the Artic Solar’s exposure and expertise to offer turnkey type of total solar solutions for commercial constructions to offer nearly 60% savings on energy.