Dorchester, ON – The EnerWorks Board of Directors today announced that it has signed an Agreement-in-Principle to sell 100% of EnerWorks shares to Proterra Solar, based in Woodstock Ontario. Finalizing the deal is subject to due diligence and other typical closing matters. Proterra Solar is part of a group of companies which includes Trigon, a construction management firm that has expertise in the solar field and Uvalux Tanning & Support which is a leader in the distribution of indoor tanning supplies.
Proterra Solar has already established itself in the solar thermal industry as a distributor and consultant for evacuated tube solar thermal systems, including Canada’s largest solar cooling project at Oxford Gardens.
The bringing together of North America’s top rated flat plate technology with Proterra Solar’s high quality evacuated tube solar thermal products will result in the ability to offer the best product for each application. The new company will be a strong force in the marketplace. “Our customers and channel partners will love this”, says Phil Whiting, President & CEO of EnerWorks. “Enerworks will emerge stronger and better able to meet the needs of the market”.
“We are excited to keep a strong Canadian-made solar thermal technology at home here in Canada.” says Nik Van Haeren, President of Proterra Solar. “We will soon be manufacturing our own Evacuated Tube collectors with our German made NARVA tube, so the addition of the EnerWorks product line will provide excellent synergies to our existing offerings.”
The deal is targeted to close on or before March 31, 2011. The new company will operate under the EnerWorks name, and will be based in Woodstock, Ontario, Canada.
