Global Warming Solutions and Vega Energy to Form Italian Solar Panel JV
Posted on: Thursday, 19 June 2008, 09:00 CDT
Global Warming Solutions, a developer of technologies aimed at mitigating the effects of global warming, has signed a letter of intent with Vega Energy, an alternative energy company, to form an Italian joint venture to produce solar panels based on the Light Electric Thermal Generator technology.
The JV will be called Alpha Energy, and will be equally owned by Global Warming Solutions and Vega. The agreement calls for Vega to provide complete funding and operational support for the JV, and for Global Warming Solutions to provide the licensing of the Light Electric Thermal Generator (LETG) technology.
Settimio Gallo, CEO of Vega Energy, said: "We are excited to be participating in this JV with Global Warming Solutions and we hope to establish a production plant that will produce high-efficiency solar panels based on the LETG technology."
Source: Datamonitor
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