(Toronto, ON), a start-up company developing what it calls concentrated photovoltaic panels, said to be much more efficient than current solar energy collection panels. Nypro also will mold and assemble components used by Morgan. Also investing in Morgan were Spain’s Iberdrola Renovables ($2.5 million), a major renewable energy company, and Turnstone Capital Management LLP (New York), which kicked in $1.2 million. Commercial products from Morgan are expected to be market-ready in 2010.
Morgan Solar Inc. has developed a solar Concentrated Solar Photovoltaic (CPV) panel called the Sun Simba HCPV, which is said to be low cost but highly efficient.
This is the first investment for Nypro’s wholly owned subsidiary, New Ventures Group LLP. According to Michael Fallon, vice president and general manager of Nypro's New Ventures Group, “Nypro is actively looking to invest in innovative technologies that have the potential to change an industry, particularly “green” technology that will enhance Nypro’s Sustainability growth plans. ” —[email protected]