Solar testing/simulation startup Eternal Sun today announced the acquisition of Spire Solar, the solar simulation division of the listed US company Spire Corporation.
According to a press release, the transaction is an asset deal. A second capital injection from Eternal Sun‘s current investor, the Belgian family fund Vermec NV, made the acquisition possible.
Spire Solar started in 1982, is considered a market leader in solar testing systems. The company is based in Boston and it will keep operate from there. An Asia office in Taiwan is also part of the acquisition. It’s parent company was delisted from Nasdaq in 2013. From then on it was listed on the OTCQB marketplace.
Eternal Sun worldwide
Eternal Sun, based in The Hague, was founded in 2011 by Chokri Mousaoui (CEO) and Stefan Roest (CTO) and is part of incubator YES!Delft. The startup develops simulation systems which imitate sunlight with an 98 percent accuracy. In a world where the demand for solar panels keeps growing, this is a necessity.
“With the acquisition we’ve become one of the biggest players worldwide”, said Mousaoui in the release. The takeover also means Eternal Sun now has access to production markets in Asia.
We reached out to the company for comments.
Image: Eternal Sun