Morgan Solar appoints CEO

(ADPnews) - Oct 14, 2010 - Canadian solar power start-up Morgan Solar Inc has named Asif Ansari chief executive officer.

Prior to the appointment, Ansari held the CEO position at US eSolar Inc. He has founded a number of successful solar companies and has worked for the development and sales of more than 20 products in the aerospace and clean technology markets, Toronto not-for-profit corporation MaRS Discovery District, which is closely collaborating with the start-up, said in a statement yesterday.

In his new role, Ansari will work on the commercialisation of Morgan Star's first product -- Sun Simba concentrating solar panel -- which, according to the company, is a low-cost, high-efficient solar panel suitable for utility-scale solar plants. Manufactured at Morgan Solar's facility in Toronto, the panels are scheduled for initial deliveries by the end of the year. The volume will ramp up in 2011.

Morgan Solar, founded in 2007, has already secured series A funding of USD 8.2 million (EUR 5.8m) and USD 5 million in public financing to support the launch of Sun Simba. Among its investors are Spanish power utility Iberdrola (MCE:IBE) and US precision injection moulding company Nypro.

(USD 1.0 = EUR 0.710)

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