Photon Energy has acquired a minority stake in RayGen Resources to develop global renewable energy projects. Companies have also entered into a strategic partnership to develop global projects in the field of renewable energy, using the unique RayGen Resources technology.
Photon Energy will be the developer and contractor of projects in the EPC model and a capital investor.
The RayGen solution combines PV Ultra technology with the Thermal Hydro electrothermal solution for efficient and cheap energy storage. As part of joint projects, it is planned to use the unique knowledge and experience of the Australian company in the field of PV technology and energy storage.
“The investment in RayGen is the first step towards the production of components for the photovoltaic industry. Thanks to the partnership, we will be able to offer a wide range of connected PV solutions to the distribution network, as well as in remote locations, out of network coverage, e.g. on islands. Working with the RayGen team gives the chance to push current boundaries in the solar industry in the coming years,” Georg Hotar, CEO of Photon Energy, said.