Nexii Building Solutions Inc. has entered a non-binding letter of intent (LOI) to purchase Solar Earth Technologies Ltd., a manufacturer of hardened solar power panels that transform sidewalks, parking lots and other elements of everyday infrastructure into a new source of solar energy.
Nexii believes that the proposed acquisition of Solar Earth by Nexii, if completed, would accelerate the integration of solar technology in Nexii’s low-carbon buildings and products, supporting Nexii’s 2025 target of net zero operational carbon buildings.
Solar Earth has more than a dozen live projects globally, with installations at Thompson Rivers University in Kamloops, Stellenbosch University in South Africa, Daxing Green Village in Beijing, China, and the City of Tampa in Florida generating clean electricity from Solar Earth’s power-generating sidewalks. The company has more than 50 projects in development and is seeing increased market demand to transform existing infrastructure into a clean-energy source.
“With our shared vision to create a net zero future and by combining our technologies, we believe we have the opportunity to make net positive energy buildings a reality,” says Stephen Sidwell, CEO and co-founder of Nexii. “We look forward to working with Solar Earth to rapidly scale, and meet the market demand for smart pavement technology.”
“Delivering renewable energy infrastructure solutions to a global market is what we strive for, and we could not think of a better partner than Nexii,” states Douglas Matthews, CEO and director of Solar Earth. “Our mission is to help create a net zero future for our cities and communities, and fight climate change by transforming everyday infrastructure into a source of solar energy to replace fossil fuels.”