The board of directors at EnerWorks, a solar thermal technology provider, has agreed to sell 100% of EnerWorks' shares to Proterra Solar, a solar thermal firm based in Woodstock, Ontario.
Finalizing the deal is subject to due diligence and other typical closing matters. Proterra Solar is part of a group of companies that includes Trigon, a construction management firm that has expertise in the solar field.
Proterra Solar has already established itself in the solar thermal industry as a distributor and consultant for evacuated-tube solar thermal systems, including Canada's largest solar cooling project at Oxford Gardens, the companies note. The bringing together of EnerWorks' flat-plate technology with Proterra Solar's evacuated-tube solar thermal products is intended to allow the companies to offer the best product for each application.Â
The deal is targeted to close on or before March 31. The new company will operate under the EnerWorks name and will be based in Woodstock, Ontario.