SkyFuel acquired by Sunshine Kaidi New Energy Group of Wuhan, China

SkyFuel acquired by Sunshine Kaidi New Energy Group of Wuhan, China

SkyFuel Inc. announced that it has been acquired by Sunshine Kaidi New Energy Group (“Kaidi”) of Wuhan, China, through their US subsidiary Harvest International New Energy, Inc.

Kaidi is a leader in renewable energy in China and Southeast Asia, and provides a strong strategic partner for the continued growth and global deployment of SkyFuel’s advanced parabolic trough technology.

SkyFuel, Inc. will remain a US company, and will continue to develop leading-edge solar technology with the existing US based engineering team.    Manufacturing of selected components of the SkyTrough collector will be transferred to China for scale-up of manufacturing and additional cost reduction, under strict US quality standards.

With SkyFuel’s concentrator technology, Kaidi plans to pursue concentrated solar power (CSP) markets for hybrid power generation, water desalination and industrial process heat through the delivery of SkyTrough systems to domestic and international markets.

Sunshine Kaidi New Energy Group Co., Ltd. operates as a hi-tech investment company in the field of green energy. It focuses on environment protection, energy saving, cleaning combustion, technical system integration, new product R&D, EPC construction, commercial operation, asset management, diversified investment, etc. The company provides safe drinking water, sewage treatment, flue gas desulfurization, dust control, energy saving and consumption reduction, clean combustion, biomass power generation, green energy services, etc. It also provides technical services for power plants; core technology of energy-saving products in oil-free ignition, and replacing oil with coal powder; and owns an integrated investment and service platform in energy-saving environmental protection and green energy industry.