Swedish innovation company Suncool AB has created the world's first solar collector that can produce both heating and cooling. Aiming at the largest market in the world, Suncool together with Hong Kong-listed ZFZ are forming a joint company. The ambition is to take 5 percent of the market in five years.
The Suncool concept is built around the patented SaltX technology and was first tested last year. The results were 2 times better than previously measured state-of-the-art. This gave birth to the newly formed company between Suncool and ZFZ. This deal will accelerate the rollout of this unique solution not only in China but globally. At the same time a large number of people can now choose a green, more sustainable alternative for Air conditioning, says Karl Bohman, CEO of Suncool.
The Chinese market for thermal solar collectors represents over 80 percent of the global market, estimated to US$7.2 Billion. The new company anticipates capturing at least 5 percent of this market within five years. "I am proud that my idea finally can be introduced to the world's largest solar collector market. Low-cost production is critical to Suncool's competitiveness" says Göran Bolin, founder and CTO of Suncool.