Canadian Solar acquires 10% equity interest in eNow

Canadian Solar announced that it has acquired 10% equity interest in eNow solar-based energy management system for the commercial transportation.

The investment will accelerate the expansion and growth of photovoltaic (PV) based mobile energy solutions-utilizing Canadian Solar’s PV development and production expertise-and expand eNow’s global reach. The partnership brings to market Canadian Solar’s leading module technology interfacing with the unique power management system designed by eNow. The solar-based energy management system for commercial vehicles will help to reduce the energy consumption and CO2 emission during engine idling, and also can power vehicles’ auxiliary systems.

Canadian Solar Chairman and CEO, Dr. Shawn Qu said that while they have become one of the world leading solar energy solution providers with close to 20 GW module deployment since 2001, he still remember they started very small in 2001 when they provided a 3 W solar power battery trickle charging system for cars. eNow’s power management for the commercial transportation industry is a big step forward from Canadian Solar’s first product. They see a great potential for the transportation industry. It will reduce transportation fuel costs while making a significant impact in cutting vehicle emissions.

eNow Founder & CEO,  Jeff Flathsaid that they are honored to have received funding from Canadian Solar. Their tremendous expertise, technology innovation and global credibility in the solar industry could not be matched. They see this investment and partnership as more proof of the viability of Energy-as-a-Service and the increasing demand for sustainable solutions in the commercial transportation industry.

Image Source: eNow Energy