Solar Thin Films, Inc announces agreement-in-principle for $10 million project in Uganda
Tuesday, Aug 06, 2013
Solar Thin Films, Inc (OTC Markets: SLTZ) (the “Company”), an environmentally conscious company working to bring new products to market with a strong focus on Fiber Reinforced Plastics technology (FRP), as well as waste to energy and solar energy, announced today an agreement-in-principle to design, supply and construct a modular school and clinic in Uganda, Africa.
The project calls for the design, supply and construction of a 36,000 square foot school and an 8,000 square foot clinic, along with well-water supply and area lighting. The Company’s portion of the $15 million project is approximately $10 million. The Company’s design and prototype drawings have been accepted in principle, subject to finalization of the design and budget. It is expected that final agreements will be signed later this month.
The design calls for a modular structure using the Company’s GREEN technology products, including the Vulcan FRP panel. The Vulcan panels will be manufactured in the USA by the Company and shipped to Uganda for installation. The school and clinic’s power will be supplied by the Company’s photo-voltaic (PV) solar panels and battery storage. Indoor lighting will utilize the Company’s LED lighting products. Outdoor lighting for the grounds and well-water supply will also utilize solar energy.
Excess power output will be purchased by the municipal power authority.
The Company expects to begin manufacturing the modular Vulcan panels and PV solar panels in the fourth quarter of 2013, with delivery to Uganda completed in the second quarter of 2014. Installation should be completed by the end of 2014.
James Solano, Chief Executive Officer of the Company stated, “This is the first of many international projects we intend to announce over the next few months and years. These projects will further demonstrate the Company’s ability to be a worldwide leader in innovative technology and alternative energy. We wish to thank HELP International for assisting us in presenting our prototype design and budget to the Ugandan authorities. We will provide public updates as this project proceeds through to completion.”
Source: Business Wire