Arctic Solar Engineering integrates solar thermal energy technology patented by Germany’s Daimler Aerospace, which is being used throughout Germany and other parts of Europe, Asia and the Middle East.
ASE stated its solar thermal energy systems can reduce an average building’s energy consumption by up to 70%.
The solar thermal energy systems consist of 110 solar thermal arrays and an 8,000 gallon thermal mass energy storage tank, with a capacity of 82 kilowatts and an estimated annual production of 110 megawatt hours.
W2 Energy president and CEO Mike McLaren said by taking a majority interest in ASE, the acquisition will enable the company to expand business base, while increasing presence in the alternative energy market.
W2 Energy develops renewable energy technologies and applies it to new generation power systems.
