Hong Kong solar company sells 25% to US player

Date: 
February 01, 2012

Hong Kong company, Optimum Solar, has executed a memorandum of understanding agreement (MOU) and sold 25 percent to US-company Onyx Service and Solutions.

According to Onyx, the financial terms of the acquisition will be detailed after due diligence of Optimum's operations and valuations, although it is expected to be done quickly.

Optimum Solar, although listed as domiciled in Hong Kong produces a complete line of solar products and solutions industrial in mainland China with a headquarters in Shanghai.

Omyx's president Malcolm Burleson released a statement saying, “We are confident that the acquisition of this substantial stake in Optimum will allow us access to some of the best engineering and manufacturing expertise available in the solar industry. The combined resources of ONYX and Optimum will allow for the acceleration of the commercialization of our co-developed 'Plug-N-Play' all in one solar panel system.”