Shunfeng PV to expand in seawater power generation

Aug 26, 2014 - China-based Shunfeng Photovoltaic International Ltd (HKG:1165) yesterday entered into a licence agreement to use Taiwan Carbon Nanotube Technology Corp’s seawater power generation technology over the next three years.

Shunfeng PV revealed plans to become a fully-integrated solar energy enterprise and to also expand to other alternative energy sectors in June. Yesterday it said it plans to immediately begin testing the new seawater power technology by proceeding with site selection, government approval and power plant construction.

The technology deal was signed between the company’s wholly-owned subsidiary Shunfeng Photovoltaic Holdings Ltd, Gold Coin Global Ltd and Taiwan Nanotube. It gives Shunfeng PV the right to use the patented technology in China and worldwide, except for Japan and Taiwan, until August 2017 in exchange of 30% of the profits before tax from the use of the power system.

Taiwan Nanotube is active in nano carbon materials research, development and production. Its seawater power generation battery uses carbon nanotubes and graphene as its negative electrode material. The system's output is significantly greater than the output of current graphene technology and it could continuously generate power for 40 years, Shunfeng noted.

Gold Coin is 30% owned by Taiwan Nanotube, while the other 70% are in control of a Shunfeng shareholder. The company hold the rights over the new technology in China, including Hong Kong and Macau.

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