The company has said it believes both the PV and solar thermal markets – particularly for residential and commercial use are high growth sectors that promise to become a significant and vital energy option.
The announcement comes on the back of a report published by the NPD Group which stated: "The Solar Energy industry will return to high growth in 2010 and also over the next 5 years. Even in the slowest growth scenario, the global market will be 2.5 times its current size by 2014. Under the Production Led scenario, the fastest growing forecast, annual industry revenues approach $100 billion by 2014."
In addition to the Technology Transfer portion of the Agreement, the income producing Joint Development portion of the Agreement affords KS-IPH an option to acquire Development and Distribution Rights to certain technologies. Now that the initial patent technologies have been selected, the company has said it will shortly be in a position to announce specific terms of this income-generating Product Development and Distribution Agreement.
This transaction, says Hybrid Energy, is the first in a series of anticipated acquisitions planned as a result of the Joint Development acquisition under its recently announced Solar Energy Acquisition and Development Project; the first official project of the Company's portfolio diversification strategy. ?The company concluded by saying it is assessing the acquisition of several new assets, operations and technologies and encourages further technology submittals and developmental joint ventures.
