Published: October 27, 2009
Aide Solar Parent Company The Panjit Group Expands Energy Storage Market Portfolio with Acquisition of LiFeTech
ANAHEIM, Calif. - (BUSINESS WIRE) - The
Panjit Group, a broad-based manufacturer of leading-edge
technologies headquartered in Taiwan, today announced the acquisition of
LiFeTech, (Lifebatt Production Inc. Taiwan) a supplier of specialty
lithium ion rechargeable battery modules which use iron phosphate
(LiFePO4) as a cathode material. The strategic move bolsters the
position of the company in the energy storage market and allows it to
offer customers the ability to capture and store energy for later use in
renewable energy applications such as solar, wind, electric vehicles,
and uninterrupted power supplies. The ability to supply LiFeTech
batteries also allows The Panjit Group's subsidiary Aide
Solar, a large-scale producer of photovoltaic modules with U.S.
headquarters in Tempe, Arizona, to rapidly expand its market reach in
the solar industry.
Applications that require energy storage are ubiquitous and Li-ion is
quickly becoming the battery of choice. Benefits of LiFeTech iron
phosphate battery technology include longer life cycles, compact size,
lighter weight, stronger peak power and superior charging efficiency.
Improved economics is leading electric vehicle manufacturers and the
utility sector to ramp adoption.
"Energy storage is especially important in compensating for the
intermittent nature of wind and solar energy sources, which is often out
of synch with the peaks and valleys of customers' electricity demand,"
said David Link, Senior Analyst, Pike
Research. "We expect that Lithium Ion batteries will be the fastest
growing category for utility-scale applications, growing to a $1.1
billion worldwide business by 2018."
The addition of LiFeTech's batteries to its portfolio complements The
Panjit Group's existing technologies such as photovoltaic modules from
Aide Solar and LED lighting from Panjit Lighting. The synergy of these
technologies allows the company to offer an integrated solar-powered
outdoor lighting solution that is easy-to-install and capable of
producing the maximum brightness at lower temperatures with superior
energy efficiency. The integrated LED lighting solution will be on
display in the Aide Solar booth #1455, October 27-29 at Solar
Power International, the most diverse international
business-to-business trade show in the United States for the global
solar industry.
"The Panjit Group's strength lies in the combined technical expertise
and product innovation of its subsidiaries and their ability to leverage
those technologies in response to the market's needs," said Eddy Fang,
Director of Strategy, Aide Solar. "This acquisition, combined with the
recent opening of our Aide Solar U.S. office, ideally positions us to
better serve the alternative energy and energy storage markets by
quickly providing systems integrators and installers with
high-efficiency, eco-friendly solutions."
About Aide Solar
Aide Solar is a large-scale producer of photovoltaic modules with U.S.
headquarters in Tempe, Arizona. Based in Xuzhou City, China, Aide Solar
was established in 2003 and became a subsidiary of the Taiwan-based
Panjit Group in 2007. Ranked as one of China's leading solar panel
manufacturing companies with customers worldwide, Aide Solar is
committed to technology innovation and providing the best customer
experience in the industry. To learn more about Aide Solar, please visit http://aidesolar.com
or call 480-388-3226.
LVA Communications
Linda Capcara, 480-229-7090
linda@lva.com
or
Aide
Solar - U.S.A
Raymond C. Wiley, 480-388-3226
raymond.wiley@aidesolarus.com
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