ProGreen Properties Signs LOI with SolTech Energy for New Solar Technology

ProGreen Properties has declared that it has signed a Letter of Intent (LOI) with SolTech Energy Sweden  for commencing an in-depth analysis and evaluation with regard to the introduction of the solar technology and products developed by SolTech for the housing market in the US.

SolTech’s solar energy technology is highly unique as it represents an aesthetically appealing solar system with the southern part of the roof or wall cladding and solar collector becoming one big thermal solar panel, which is kept under glass roof tiles. The huge size would lead to generation of equally large amounts of energy, which in turn would reduce the heating costs and the cost of hot water. SolTech could now be used as an add on feature and create a system for electricity production from the same source of thermal solar energy when excess energy is produced. This dual use of the sun as an energy source being highly efficient would result in higher financial returns and improvement of the environment.

Jan Telander, ProGreen’s CEO states that they were thrilled to utilize this new opportunity, as it would mean that the company would be implementing a new solar application in  the future real estate projects and this may also lead to the creation of an independent solar section in ProGreen after the concept has been validated on their properties. ProGreen is a Birmingham-based company in Michigan and is engaged in the acquisition, remodeling and upgrading of residential property and converting them into energy efficient and highly comfortable living areas.