Aug. 21, 2013 - Solar Thin Films, Inc. announced today the completion of the first installation of its Smart Solar Tracking System at a golf course, Manhattan Woods, in Pearl River, New York.
The Company previously announced its agreement, subject to final documentation, to acquire the assets and business of KLC Green Energy Corp. The feature of the Tracker is that the solar panel changes position in response to the movement of the sun in relation to the earth; in essence, following the sun's path. This feature allows for a 50% increase in the amount of energy produced by the panel and has many applications, including outdoor lighting for walkways, property lighting, etc. and can be used in both stand-alone and networked lighting applications.
James Solano, Chief Executive Officer of the Company stated, "The installation of the Tracker at Manhattan Woods is exciting for a couple of reasons. First, because we believe that this will lead quickly to 10-15 such installations at Manhattan Woods, as well as positioning us to install our solar golf charger systems. Second, we are in prime position to capture most, if not all, of the solar installations at the many PGA-authorized golf courses around the country. Thirdly, the spin-offs to other opportunities for the Tracker throughout the world, is huge, given our recent announcement of the acceptance of the Tracker system in our school and clinic project in Uganda, Africa. The acquisition of KLC is about to pay off handsomely, as the market opportunity for the Tracker is in excess of $100,000 at each of the 50-plus PGA-authorized golf courses in the USA over the next 2-3 years, plus the thousands of other application possibilities here and abroad."
The previously announced acquisition of KLC is on-track to close within the next 3-4 weeks.