As part of the deal, ELM Solar of ELM Companies has invested $3 million into a new factory and equipment in Dallas, Texas, to manufacture Naked Energy’s Virtu product range.
Naked Energy is expecting manufacturing for all North American projects to be handled entirely in the US by 2025, minimising reliance on foreign supply chains for its customer base in the US.
The partnership aims to manufacture 150,000 Virtu tubes by 2028.
The move deepens the successful partnership between the two companies, with ELM Solar already handling the North American distribution of Naked Energy’s VirtuPVT and VirtuHOT collectors.
As a result, Naked Energy has seen substantial success in the country, with their first US installation at Creighton University launching in late 2023.
Boom driven by Inflation Reduction Act
It comes at a time when investment into solar energy is booming across the United States, driven predominantly by the Inflation Reduction Act (IRA).
The act has already led to manufacturing almost doubling just one year in, and has seen $50 billion invested into clean energy technologies so far. The IRA also adds 10% in tax credits to the end customer for products manufactured in the USA.
Christophe Williams, CEO and co-founder of Naked Energy, said: “Our partnership with ELM has already paid huge dividends for both of us, and I’m very proud that we can deepen our relationship further with this manufacturing agreement. The United States is a key market for us, and we look forward to further decarbonising the United States’ heating systems.
“It reflects the success and popularity of the business’ products on the other side of the pond, and we’re looking for more manufacturers across the world who share our desire to decarbonise heat on a global scale.”
Virtu is the name given to Naked Energy’s range of solar heat collectors. VirtuHOT is TÜV-certified and converts the sun’s energy into heat up to 120°C while its revolutionary solar PVT collector, VirtuPVT, simultaneously generates both PV electricity and solar heat up to 75°C.
The business has also developed a complementary platform, Clarity247, to monitor the performance of Virtu, as well as integrated technologies like PV panels, in real time.
‘Creating sustainable job opportunities’
Both Virtu technologies, recognised as the highest energy density collectors for flat roofs, have shown to be very well suited for the decarbonisation of heat in sectors with a year-long heat demand, such as hotels, leisure centres, universities, multi-dwelling properties and applications covering the lower range of industrial process heat.
Lee C Graves, chairman and founder of ELM, said: “By bringing Naked Energy’s cutting-edge solar thermal technology to our manufacturing facility in Texas, we are not only bolstering our renewable energy portfolio but also creating sustainable job opportunities and contributing to the growth of the clean energy sector.
“This collaboration underscores our shared vision for a greener future and reinforces our position as leaders in the transition to clean, efficient energy systems.”
Image credit: Naked Energy.