May 17, 2020

GoSolarUSA: Acquire new solar heating technology rights

2 min
GoSolarUSA Inc
GoSolarUSA Inc (GSLO) has entered into an agreement for the acquisition of exclusive global rights to a new, patent pending solar heating technology...

GoSolarUSA Inc (GSLO) has entered into an agreement for the acquisition of exclusive global rights to a new, patent pending solar heating technology. The Company sees this innovative technology as a revolutionary move for the solar industry, as it will deliver a practical method of supplying homes in cold climates with forced air heat by way of solar energy.

Currently, forced air heating systems are being used within 35 million U.S homes, and are the most common method of heating homes in the U.S. However, forced air furnaces typically run on fossil fuels, such as fuel oil, natural gas and propane.

The new Solar Forced Air Furnace by GSLO will be designed for easy adaption into existing systems in already in homes. The system will reduce heating costs and provide a green energy source for replacing oil and gas.

“We are excited to have acquired this new, revolutionary U.S technology that has the potential to reduce energy costs and replace oil and gas in millions of homes across America,” stated GSLO President Thomas Massey. “This is a huge, untapped market that spends thousands of dollars every year on heating costs. We believe millions of Americans will welcome a technology that will reduce their energy costs and give them a green energy alternative to oil & gas heating.”

GoSolarUSA is focused on acquiring, developing and marketing the most promising and potentially profitable American technology. The GoSolarUSA mission is to: “manifest cutting edge American solar technology and manufacturing advances to successfully compete in a global marketplace, which includes Trina Solar, JA Solar and Canadian Solar Inc.”

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Apr 23, 2021

Drax advances biomass strategy with Pinnacle acquisition

Dominic Ellis
2 min
Drax is advancing biomass following Pinnacle acquisition it reported in a trading update

Drax' recently completed acquisition of Pinnacle more than doubles its sustainable biomass production capacity and significantly reduces its cost of production, it reported in a trading update.

The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.

The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).

Drax CEO Will Gardiner said its Q1 performance had been "robust", supported by the sale of Drax Generation Enterprise, which holds four CCGT power stations, to VPI Generation.

This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.

In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.

The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.

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