MOUNTAIN VIEW, Calif., U.S.A, Gazoldo and Treviso, Italy
– October 24, 2011 –
Cogenra Solar®, a provider of distributed solar cogeneration systems and renewable energy service solutions, and Vismunda srl, Cogenra representative office in Europe, announced today a contract to build solar cogeneration arrays at Marcegaglia's IMAT manufacturing facility in Fontanafredda, Italy. This installation will help Marcegaglia in achieving its triple bottom-line mission of people, planet and profit.
"The potential of solar cogeneration to maximize the energy capture from the sun at 75% efficiency while generating both electricity and hot water at costs below utility rates, is immense.
And, we are pleased to be working with an innovative company like Cogenra Solar to not only install their system in our facility but also to enable the entry of such innovative solutions in to Italy,"
said Dr. Antonio Marcegaglia, CEO of Marcegaglia.
Installation of Cogenra's system will provide cleaner, more affordable electricity and hot water
to the plant's facilities which includes a diversified range of products for the refrigeration industry.
"We're thrilled to announce our first contract in Italy and more importantly to be working with Marcegaglia's facility to prove the potential for Solar Cogeneration," said Cogenra CEO Dr. Gilad Almogy. "With solar cogeneration, PV waste heat is harvested to provide commercial hot water needs, displacing valuable natural gas while cooling the PV cells for optimal performance.
This win-win enables a greater environmental contribution and faster payback than any other solar solution."
Cogenra Solar's fully certified solar cogeneration solution is eligible for both solar electric
feed-in-tariff and solar hot water tax credit incentives in Italy. Facilities like this will experience a payback period nearly half that of standard PV installations.
Cogenra Solar is a distributed solar cogeneration company that combines photovoltaic electricity production and heat collection to deliver low cost electricity and hot water for commercial, industrial and institutional facilities. Cogenra's solution enables clean, renewable energy below utility rates while reducing natural gas and grid-fed electricity consumption.
Cogenra is located in Mountain View, California. Please visit www.cogenra.com for more information.
About Vismunda srl
Vismunda srl is a young company in the Italian scenario of the renewable energies. Its target is to help renewable energy system companies in entering the Italian market and becoming an important part of Italian green power revolution. Vismunda is located in Treviso, Italy.
Marcegaglia is the leading industrial group worldwide in the steel processing sector; fully owned by the Marcegaglia family, it operates worldwide with 7,500 employees and 50 manufacturing plants in Italy, Europe, the Americas and Asia, operating on markets all over the world.
Marcegaglia is also active in solar energy system solutions, though the subsidiaries of MARCEGAGLIA BUILDTECH, MARCEGAGLIA ENERGY and IMAT.
Antenna Group for Cogenra Solar
415.977.1930 or 510.918.2406 (cell)
+39 0376 685 430 or +39 335 5995 233
+39 0422 590729