Pioneering technology company Natural Technology Developments (NTD) has signed a three year manufacturing deal with Romag, a leading UK PV manufacturer based in County Durham, for its groundbreaking Solar Angel product.
The news follows the announcement that Solar Angel will receive its full MCS and Solar Keymark certification by the end of the year to produce the first UK designed and manufactured solar PV-T (photo-voltaic and thermal) panel.
The deal puts Solar Angel on track to achieve its global forecast sales figures of £8 million by the end of 2016 and create hundreds of jobs across the UK.
The new technology offers a more cost effective alternative to existing PV and solar thermal products, by using one slim line dual generation panel to generate both electricity and hot water from the sun’s rays, helped by a unique cooling system that generates more electricity than PV on its own.
Paul Laidler, managing director of NTD, commented: “It is very important to us that this future generation of solar technology be manufactured here in the UK and we are delighted to formalise our relationship with Romag. The team has been very supportive of us during the development of Solar Angel and are equally excited by the commercial opportunities it will offer.
“Interest in our new product has been considerable and we are now well on our way to convert this into significant sales and job creation once the product is available early next year”.
Phil Murray, Deputy Chief Executive Officer of Romag added: “Romag is delighted to have agreed a manufacturing contract with NTD. Solar Angel is an innovative new product which fits well with our product range and we look forward to working together to deliver the product to market in the coming months and years.
“As a UK manufacturer, Romag is well placed to support local products and this manufacturing deal demonstrates our commitment to building a quality, competitive supply chain for the solar market.”
Romag will manufacture NTD’s hybrid panel Solar Angel at their premises in Consett in County Durham.
Northumberland-based NTD is about to embark on second stage investment fund raising in order to grow the business further and market the product to the rest of the world with its official launch at the EcoBuild exhibition in London next March.