Merger combines two Tarrant County energy companies

by PegNews wire

SkyDrill Power Systems, LLC (www.skydrill.net) announced today that it has entered into a formal partnership with ZT Solar (www.ztsolar.com) to commercialize disruptive and universal surface structuring technologies for all types of solar cells.

The partnership will begin with a joint submission for grant money from the federal government through the Small Business Innovative Research (SBIR) program. The U.S. Small Business Administration (SBA) Office of Technology administers the SBIR Program along with the National Science Foundation. If successful, it would be the second round of SBIR funding for ZT Solar, setting the stage for the additional research required for successful commercialization of the innovative technology.

SkyDrill President and CEO Barry Sterling said, “ZT Solar has developed a very innovative technology and we feel SkyDrill’s strong management team can provide the necessary launching pad into the marketplace. The addition of ZT Solar to the SkyDrill business model further proves our commitment to a diversified group of innovative solutions to meet our customer needs.”

SkyDrill Power Systems LLC, a Texas company, was founded in September 2007 to realize the vision of building and integrating better renewable energy systems for the urban, commercial/industrial and government marketplaces. ZT Solar’s mission is to commercialize innovative technologies for cost effective optical designs in solar cells. ZT Solar is well positioned to develop disruptive and universal surface structuring technologies for all types of solar cells, including polycrystalline silicon solar cells and thin film solar cells. Its core technology (patent pending) was developed at the University of Texas at Arlington.

The partnership is the culmination of a relationship that began after SkyDrill and ZT Solar were brought together through the Fort Worth-based non-profit business incubator, TECH Fort Worth, where ZT Solar remains a client.

ZT Solar founder, Vice President and Chief Technology Officer Dr. Meng Tao said: “This is a win-win partnership. SkyDrill’s involvement will speed up the commercialization process of ZT Solar’s original and innovative technology. SkyDrill is committed to incorporating different renewable energy technologies and ZT Solar’s goal has been to find a successful business partner to help bring its technologies to the market.”

Source: SkyDrill Power Systems