Surface Power & Moritz Group Sign €20M Solar Thermal Distribution Deal

An Irish firm who earlier this year launched what it claims to be the world’s most efficient solar hot water panel has agreed a €20 million deal to have the product distributed throughout the Republic of Ireland. Surface Power Solar says it has agreed to supply The Moritz Group with its SP501 Solar Hot Water Collector over a five-year period.

Surface Power estimates that the SP501 product, which has undergone six years of development and testing, has the potential to reduce domestic and commercial hot water bills by up to 70% if insulation standards meet new building regulations.  According to the company, independent certification has shown that when compared to other leading solar hot water collectors the collector was up to 131% more efficient in morning and evening time and 76% more efficient at midday.
 
The Moritz Group, an Irish-based distributor to the construction industry, employs more than 180 people in Ireland and a further 100 people indirectly through its various interests.
 
“The Moritz Group was determined to secure distribution rights to what we believe is the most effective solar hot water product in the market.  We recognise that solar technology is constantly evolving, and innovative and high performance solutions like the SP501 Solar Hot Water Collector system are necessary for us to stay competitive in this industry.  The extensive certification, ground breaking performance and R&D that went into the solar hot water collector designed for the Irish climate give us confidence to distribute the product to our customers,” said Dennis O’Connor, Moritz Trading’s director.

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